Expenses
Here you will learn how to use the Expenses input table.
Expenses Walkthrough
Understanding Expenses
The Expenses tab is where all costs must be recorded. This section should be managed by the accountant or the person responsible for tracking expenses. Completing this sheet accurately is crucial for maintaining accurate financial records. It enables a clear comparison between income and expenses, allowing for a comprehensive view of the business's financial picture.
The expenses dashboard can be seen below:
Remember that every term has its detailed definition and can be found in the Glossary of Variables
Glossary of VariablesHow it works
Each row represents a single expense transaction. Be sure to complete every highlighted column (Client Name, ID, Date, Amount, Fees, Type, Counterparty, Invoice Link, and COGS (if applicable)) to ensure the system records the expense accurately and your financial reports remain reliable.
These fields capture the essential details of each payment—who the expense is related to, when it was made, the total amount, any applicable fees, the expense type, the recipient of the payment, the invoice link for tracking, and whether it should be classified as COGS (Cost of Goods Sold).
The only column that should not be edited is 🧪ID, as it is automatically generated by the system.
Remember, the entered data will later be used for financial analysis, and any missing or incorrect information could impact the ability to assess profitability, calculate margins, or manage budgets effectively.
To help you fully understand how it works, let’s look at two examples—one correctly filled and one with errors.
Here is a visual example of how a row should be filled out correctly to ensure all data is processed without issues:
If any key data is missing or incorrect, the system will highlight the affected cells in red, like this:
Remember that recording expenses is simple but essential. It provides us with a clear and accurate picture of the business’s financial health, supporting smarter, data-driven decisions for long-term success.
To wrap up, here’s a view of a fully completed Expenses Input Table:
Thanks for reading!
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