Help Topic: Expenses
Q. What Are Expense Groups?
When you record an expense, you can assign it to an expense group. Expense are displayed by their group within your Income Statement. Expenses that are not assigned to a group fall within the Other category of the Income Statement. Expense groups help you organize your expenses.
Q. What Are Recurring Expenses?
Recurring expenses are expenses that are added to your accounts payable automatically based on their payment interval or frequency.
The software will add a recurring expense based on the Expense Date and the expense frequency.
For example:
- Expense Date: 2017-01-15
- Frequency: monthly
- # of Recurrences: 11
- Current Date: 2017-01-15
Following this example, the first expense is tracked. One month later, on 2017-02-15 the second expense will be added to your expenses. This process will be duplicated 11 times in total until a year has past and you have 12 such expense payments in total.
Q. How To Create An Expense Report?
An expense report can be generated as an itemized list of expenses. Additionally, we provide a bar chart that outlines the expense categories, their amounts, and the total expenses for the specified date range. Once the expense report is created, you can choose to download the itemized report in various formats: PRINT, COPY, CSV, EXCEL, and PDF.
To generate an expense report, follow these steps:
- Click on ACCOUNTING from the main menu
- Click on ACCOUNT METHODS from the main menu
- Click on BALANCES from the main menu
- The report will default to the current month. If you wish to select a different date range, you can do so
- If you would like to select a different date range you may do so
- Once the new date range is selected, the report will be generated
- The total for all expense categories will be displayed at the top of the report
- Each expense category is represented by a different colored bar. Hover over a bar to view the corresponding expense amount
- Download the resulting table of itemized expenses
