Expense Accounts

This feature allows business to record and track all business expenses such as rent payment, office equipments, etc.

Expense transactions are only used when generating a bank report.

Adding an Account

Follow the next steps to add an account:

• Click the Setup menu
• Click Expense Accounts menu
• Click Add Account
• The add account window appears
• Search enter a keyword and a list of all matches will be displayed, select the required account from the search result

When you select an account from the search result, account configuration such as Tax codes will be automatically configured.

• Account enter the account name
• Tax Code select an appropriate tax code for the new account
• Cap (Life) Years enter the number of years of the account life cycle for depreciation purpose only

The Cap years option is not currently in use!

• Click Save

Updating an Account

Click the Edit button under the Action column next to the account that you would like to update

System accounts can not be updated or deleted.

Deleting an Account

Click the Delete button under the Action column next to the account that you would like to remove

Accounts linked to expense transactions can not be deleted and protected by the system for data integrity purpose.