Add Expense

We will see how to add expense entries for our business.

Add Expense Entry using Veepan

Steps to add an Expense

1. Go to Left Menu -> General -> Expenses

2. At Expenses Bar on top, click on Add icon, and select Add Expense.

3. New Expense page is created, add expense details, such as,

   • Category - Enter the category of the expense.

     1. Office - Select this if the expense is related to office supplies.

     2. Utilities - Select this for the utilities expenses.

     3. Salary / Wages - Select this if there are salary or wages expenses.

     4. Rent - Select this for rent expenses.

     5. Insurance - Select this for Insurance expense.

     6. Others - Select this, if any other expense is incurred to the business.

   • Date of Purchase - Enter the date of expense.

   • Name of Expense - Enter the name of the expense.

   • Quantity - Enter the quantity of the expense.

   • Unit Price - Enter unit price of the expense.

   • Reference Bill - Enter reference details like bill num, reference num, etc.

4. Click on Create Expense Entry.

Review and Approve the Expense

If the Expense entries are correct, click on Review and Approve.

Before Approving the expense, it can be deleted.

Once the Expense is Approved, it can not be deleted, but YES it can be Canceled.

Accounting

After the Expense is Approved,

1. Accounting is automatically done.