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Knowledgebase : Expenses
Once a month you will want to enter your ProPay fees as an Expense. First you will need to create an expense category specifically for this type of expense. To do this: 1. Click on the Categories menu.2. Select Expense.3. Enter the name of the new expe...
A Discount or Credit entered on the Sales screen effectively reduces the amount of revenue you realize on that sale, thereby reducing your taxable income. This effectively gives you a business "deduction" for the amount of the Discount or Cred...
Materials you purchase to help promote or operate your business are considered Business Items. Unless you're in the business of buying and reselling these materials for profit, it's easier to simply treat them as expense items, rather than inventoried p...
There are no hard and fast rules for categories that we know of. We generally recommend that you create categories only for those types of Expenses that you want to be able to summarize separately at the end of the year (e.g. postage), but your accounta...


 


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