Every business comes with costs, operational or material. These costs might be your rent, advertising, various commission services, even traveling and mileage you provide to your staff.
To register your expense inside the app (Expenses-> Add), simply select a date, an expense category and then type in the amount you spent.
Of course, you are free to include other details, such as a reference number or a supplier. Attaching your receipt is an available option- make it visible by uploading next to your expense registration. Last but not least, expenses can be associated with projects so you know how much you have spent for project related purchases. On top of that, those could be billed to your client along with your work.
An expense example can be found below:
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 record can be grouped as you see fit. You can use the expense 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.