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. You cay, of course, have supplier invoices or supplier credit notes, for products or services you buy.

Elorus gives you two options to register those expenses. One, is to tell the system that the amount you are charged is paid "Expenses-> Add". An entry created in expenses will appear in both expenses reporting as well as your organization cash flow.

An expense example can be found below:

The other option is to use "...More-> Bills" and add one or more item lines. The bill works similarly to the invoice-it does not affect cash flow and appears as unpaid until a payment sent is associated with the entry. It is also preferred if you wish to automate stock management.

Both require that you select an expense category and give you a common report. 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.

To trace your expenses and purchases more easily in the system, you can add values to fields such as a reference number. Upload the original receipt and see it appear next to your registration. Last but not least, expenses and bills can be associated with projects so you know how much you have spent for project related purchases. These amounts can be billed to your client when you invoice the project.


Related articles:

Did this answer your question?