An "expense item" is a pre-defined expense that you set up once and use again and again to record:
- an expense that you wish to charge to a client
- an item that you sell to clients
For example, you may charge mileage for home visits and your standard rate might be 40p/mile.
If this is the case you would set up an expense item called something like "Mileage" or "Fuel". To do this you can either set up the item in advance by going into Settings->Expense and clicking on "Create New Expense Item" as below:
Alternatively, if you choose not to set up an expense item in advance you can save one when you create an expense via Create->Expense. All you need to do is type the name of the expense, enter the cost of the expense and check "Save This As A Template". See below:
Note: When you are entering the value of the expense you can either specify the ex. VAT price if you know that and we will calculate the VAT for you OR you can specify the Inc. VAT price and we will calculate the ex VAT price for you.
Guide to Invoicing Expenses
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