How to Record Expenses as Products: Setting the Correct Account Without Affecting Inventory

Clarification on how to add an expense within products

Here are the steps to add an expense as a product within the system.

1. Go to the “Products and Costs” page.

2. Click on the “Create Products and Costs” option.

3. Select “Product Type” as “Expense“.

4. The following points should be considered when adding the expense:

   • Expense is not stored: Expense is not an inventory product.

   • Expense is not sold: Expense is not sold as a product.

   • Setting the purchase price: Set the purchase price for the expense.

   • Setting the account: Choose the account that the costs will be charged to, whether it is an expense or a fixed asset

Additional notes:

• Make sure to select the appropriate accounts for the expense when adding it.

• A liability account (such as accrued expenses) cannot be selected as an expense account in product data. The system requires that the selected account be of type Expense or Asset only. If the customer complains that a liability account is not appearing, you should direct them to select an account from the Expenses or Assets category in the chart of accounts.

• The expense is not added to inventory or sold as a product.

• You can watch the training course that explains to you how to add an expense.

  https://www.youtube.com/watch?v=0__p9bMi–Q&list=PLFxruNicnasPRuNEdfXU1417xKNxZt9GI