To track and manage business expenses that have already been paid, follow these steps to record the details in Envoici:
- Go to Expenses > Record Expenses from the navigation bar after logging into your Envoici account.
- Click on the + New Expense, and select ‘Yes’ for where it says ‘Cash Expense?’.
Steps to Record a Cash Expense:
- Paid From Account: Select the bank or cash account from the dropdown. If no accounts exist, click + New Account to create a new account.
- Expense Date: Enter the date the actual expense was incurred.
- Project (Optional): If you want to associate the expense with a specific project, enter the project name in the Select Project field.
- Type of Expense: Choose the type of expense from the dropdown. You can add new expense accounts by clicking + New Expense Type.
- Expense Details: Enter the description, tax, and amount details. If you need to apply more than one tax, you can do so. Click + New Expense to add more records if necessary.
- Attach Receipts: You can upload a scanned copy of the bill or receipt by clicking the Choose File button. This is helpful, especially during audits.
- Narration: Add any additional information for the transaction in the Expense Notes field.
- Click Save to record the expense.
