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Making expenses is an integral part of your business and it is best to document all your expenses accurately for analysis and analytics.
There are two types of expenses on StoreApp and they have different means of posting them:
- Petty/Quick expenses that are funded from daily incomes with the cashiers. When this type of expense is posted, it will be recorded in the evacuation/end of day report against the cashier whose account was used to post the expense. So it is best to post this type of expense with the account of the cashier from whom the fund will be collected.
- Expenses that are made from other accounts, either the company’s operating account, cash book, imprest account or any other account created on the system CLICK HERE to see how to create an account.
Note: Before you begin posting expenses on StoreApp, you need to first create expenses categories into which each expenses can be sorted. Examples of expenses categories are Fuel, Transportation, Telephone, Levies etc. CLICK HERE to see how to create expenses categories.
How to post petty/quick expenses
Step 1: Click on Shop and select Quick Expense
Step 2: Fill the fields with the correct information and click on Submit when done. After clicking on Submit, you will be required to authorize the transaction.
How to post expenses from an account.
Step 1: Click on Accounting > Accounts and select Expenses
Step 2: Click on Add Expenses. Fill the form correctly and press Submit when done.
Note that there are three payment method for the expense.
- Cash: fund will be deducted from the cash account
- Cheque: fund will be deducted from one of the company’s bank account
- Pay from an Account: fund will be deducted from any specified account such as imprest account or a bank account.
When any other payment type is selected apart from Cash, you will get an additional dialogue box as shown below. Complete it and press Submit when done.
There you have it, Your expense has been added to the expense report and any account selected will be credited.