Track Expenses

Watch this tutorial to learn how to: Track Expenses.

Steps in this tutorial

1. Your reports already know what your products cost you. They do not know your rent. Let us fix that.
2. Open Modules to find the expenses screen.
3. Expenses is where everything your shop spends to keep running is recorded.
4. Open the expenses list.
5. Nothing here yet. Every payment you record will show up in this list, and in your profit.
6. Let us record this month's rent.
7. One rule first: never record stock you bought for resale here. It is already counted as a cost when the product sells, so entering it again would subtract the same money twice.
8. Choose what the money was for. Ten categories are ready, and you can add your own right here.
9. The day the money actually left, not the day you are typing it. This is what decides which month it counts in.
10. How much was paid.
11. Who received it, in your own words. A landlord does not need to exist anywhere else in the system.
12. Save it.
13. Recorded. The amount column totals itself, so filter to a month or a category and read the total straight off the screen.
14. Rent comes round every month. Duplicate copies this one and dates it today, so you check the amount instead of retyping it.
15. Now open the Financial report and see what changed.
16. Gross Profit is what you made on your products. Take your expenses off it and you get Net Profit: what you actually kept this month.
17. These three are shown but never subtracted. Stock you bought becomes a cost when it sells, and delivery you charged is already counted in your sales.