Every business comes with costs, operational or material. These costs might be your rent, payroll, advertising, various commission services, even traveling and mileage you provide to your staff.
You simply select a date, an expense category and then just type in the amount you spent to save your expense in Elorus.
- Of course, you are free to include a reference number and/or a supplier. You can also further describe the product and add taxes. Attaching your receipt is also possible, visible next to your expense registration form or simply as an accompanying document.
It is a rather flexible function, as you can edit or delete it with no restriction. See below how a simple expense registration will look like.
The moment you add an expense in Elorus, it is considered a completed transaction, indicating both the purchase and the payment made for it. This is reflected in reports: the cash flow report in the system showcases both your sent payments and your expenses (sneak peek of the report including the expenses).
Each type of expense can be grouped as you see fit. You can use the categories created by the system or simply add a few of your own. This enhances the effectiveness of your reporting. It will help you gain a clear image of the amounts you spend so you can detect room for improvement and increase your earnings.