How can I add my expenses in Elorus?

The two functions allow you to keep track of the money spent by your business.

The main difference is that Expenses are regarded completed payments. By selecting Expenses-> Add(guide) you can register your purchase and at the same time the payment made for it. This is reflected in reports (expenses and purchases detail, cash flow/payment reports). Selecting a supplier is optional in Expenses - there are only three mandatory fields so you can quickly enter your business's expenses.

On the other hand, all of the invoices you have received from your supplier are considered 'Bills' - their payment will take place after they have been registered in the application. The function is also connected to the inventory (items list), allowing you to manage stock automatically for these items.

In other words, the cases where it is proposed to add a bill instead of an expense are the following:

• Keep track of your items inventory

• Unpaid invoices and bills

Note: The 'expenses categories' apply to both functions, so you get a report on where all the amounts you've spent have gone, regardless of which function you chose to enter these amounts.

> Example no 1:

A utilities bill, such as 'gas', that will expire in an 'x' number of days and has not been paid yet, can be entered as 'Bill'. This action will enable automated reminders that will help you pay off the bill on time.

If, however, you have just paid a utilities bill for your office and you simply mean to register the amount in the application, the easiest way would be to go to "Expenses". In both cases you can select "Office expenses" or create a custom expense category.

On the "Expenses by category" report, the two records will appear on the same line.

> Example no 2

You have just received an order of products to re-sell, for which you manage stock through elorus's interface. The order has been pre-paid. Still, it is mandatory that your supplier's name is used and the stock change is recorded correctly.

The Bills function offers all of the above, making it the proper choice for this registration. In this case, you will again be able to apply an expenses category so the entry appears on the report.