Here is an explanation of how to add an expense to a specific project in the system.
Answer:
To record project-specific expenses in Qoyod, add an expense account in the chart of accounts under expenses, then you can choose one of the following methods:
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Record an expense using manual journal entries:
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Go to the Accounting menu.
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Click the + button next to the “Manual Journal Entries” option.
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Enter the journal entry details (debit account, credit account, and amount).
- Then you can allocate the entry to a specific project through the “Additional Information” tab below the manual entry
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Then click “Save”.
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Record an expense through a purchase invoice:
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Add the expense within Products and Costs.
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Then create a purchase invoice and enter the expense details.
- Then you can allocate the entry to a specific project through the “Additional Information” tab
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Save the invoice.
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3. Record an expense through simple invoices
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From the Purchases dropdown menu, select Simple Invoices.
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Fill in the invoice details
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Write the description and select the expense account associated with the invoice.
- Then you can allocate the entry to a specific project through the “Additional Information” tab
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Save the invoice.
Additional notes:
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Use the method that best suits your accounting activity.
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You can review the attached video for more clarification on adding expenses through purchase invoices:
Watch the video
