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Add New Expense

Learn how to add a New Expense in the income statement

Expenses are costs incurred in the ordinary course of your business. Just like with revenues, proper expenses management and successful expenses tracking is invaluable when it comes for successful company expansion. Peekaboox offers excellent support when it comes to editing expenses and mainting proper suppliers database.

Here's a guide on how to add a new Expense on your Peekaboox.

  • Ensure that a service has already been defined in order to determine where the expense will be allocated
  • Go to 'Revenues/Expense' in your 'Accounting' tab
  • Select 'Expense'
  • Click 'Add' to add new expense

add expense button

  • In the Document Date field, enter the date to when the data was added, then add a Document Number according to your company format
  • Ensure that a Supplier has already been added
  • To do so, navigate to Accounting > Supplier, then add the supplier details. If the supplier is not in the list, you can go to the Suppliers section and add the supplier manually.
  • In the Account field, choose to which accounts the expense will be carried forward to
  • Then enter the type of Activity in which the expense will fall into
  • Then mark the payment and statement dates respectively
  • Set the applicable VAT rate
  • Enter the amount with VAT included

add expense window

Remember to click 'Save' in order to update the data.

When an expense is added, it reflects on the the balance sheet, the monthly cash flow report and the dashboard overview and they are updated accordingly. The payment date is used to evaluate when the expense is accounted.

Who has access to this resource

  • Manager
  • Accountant