This article explains the difference between a service and an expense in Qoyod in terms of storage and sale, and how to add each one.
Path in Qoyod
Products and Costs › Add Service or Expense
Unit of Measure
Select the unit of measure from the list, or add a new unit by clicking the (+) icon.
Tax
- Zero-rated tax 0%: the merchant pays tax on raw products and the consumer does not bear it.
- Tax-exempt 0%: neither the merchant nor the consumer bears any tax.
- VAT 15%: applied to all products and services purchased and sold by businesses.
Service
- A service is not stored.
- A service is sold only: set the sale price and revenue account.
- A service is not purchased, so it has no cost.
Expense
- An expense is not stored.
- An expense is not sold.
- Set the purchase price and the account to which the costs are charged (expenses or fixed asset).
Save
Click “Save” to complete adding the service or expense.
