How Do I Manage My Expenses?
Once Expenses are created, you can manage and update them, whether you have duplicate Expenses, or whether the Category, Merchant, Sales Taxes and more need to be changed or removed. Expense management can be done with individual actions, quick actions or bulk actions on several Expenses at once.
In the Expenses section, click on the More Actions button to either:
- Import Expenses from a File - Import several Expenses in bulk with a CSV file
- Manage Bank Connections - Add or update your Bank Connections
Or while in the Expenses section, hover over any Expense to quickly perform any of these actions:
- Edit - Click on the pencil icon and you’ll be taken to the edit view of the Expense where you can adjust and save afterwards
- Attach Receipt - Click on the paperclip icon to select a file to upload as a receipt for your Expense
- Duplicate - Click on the two papers icon to copy the existing Expense and modify the new one as needed
- Delete - Click on the trash can icon to delete the Expense
From the Expenses section, you can also update several Expenses at once. Check off as many boxes next to any Expense as needed, and click on the Bulk Actions button. From there you can select any of the below:
- Edit - Check off the box next to one Expense to edit it
- Duplicate - Check off the box next to one Expense to duplicate it and modify the new one as needed
- Change Category - Change the Category or Subcategory for up to 50 Expenses at once
- Change Merchant - Change or remove the Merchant for up to 50 Expenses at once
- Change Client or Project - Change or remove the Client / Project for up to 50 Expenses at once
- Change Taxes - Change or unselect to remove the Taxes for up to 50 Expenses at once
- Generate Invoice - Check off boxes next to Expenses assigned to the same Client to generate an Invoice for that Client
- Mark as Bill Payment - Mark several Expenses as Bill Payments
- Archive - Move several Expenses into your archived Expenses list to keep your active list clean
- Delete - Move several Expenses into your deleted Expenses list
Duplicate expenses occur when you have at least two or more expenses where the date, amount and description match. Your account will flag these duplicates with a banner above your list of Expenses as well as display a Potential duplicate link on any relevant expenses in the list.
It’s important to review any potential duplicates regularly to ensure your financial reports stay accurate. You can do so with the below steps:
- Click on the Expenses section
- If you see a yellow banner notifying you of potential duplicate expenses, click on the Review all link
- Or in the list of Expenses, click on the Potential Duplicate link
- In the Potential Duplicates section, you can either:
- Check off boxes next to any Expenses that you want to keep, then click on Bulk Actions and select Mark as not Duplicate
- Or check off boxes next to any Expenses that you want to delete, then click on Bulk Actions and select Delete
- Once there are no more duplicates for that particular expense, click on the View all expenses link or the All Expenses link at the top to return to your list of Expenses.
How do I add, edit or remove a Merchant from the list of Merchants?
Merchants are populated from existing Expenses where that Merchant is listed. When a particular Merchant is no longer saved on any Expense, it will then disappear from the list of Merchants. You can use the below steps to remove a Merchant and replace it with an edited or different one:
- Run an Expense Report filtered by Merchant or use the Advanced Search to find all Expenses using that particular Merchant
- Use Bulk Action steps above to update to a different Merchant, or leave it blank
- Once saved, the Merchant will no longer be on those Expenses, and disappear from the list of Merchants. The updated Merchant will be reflected on the edited Expenses.
How do I identify the Source of an Expense?
Source refers to how the Expense was created, which can be from any of the below methods:
- By Owner - this will display your Name on expenses created by you in your account
- From a Bank Connection - this will display the name of your Bank Account (or a Nickname if you provided one during Bank Connection)
- From a File Import - this will display Imported from File next to any expense that was uploaded via CSV by you
- From a Team Member - this will display the Team Member’s name that created the expense
I received a credit, refund or reimbursement on an Expense. How do I record this?
Currently any Expenses recorded counts as money leaving your account (payments for your business). If you’ve received a credit, refund or reimbursement, this can be recorded in one of two ways:
With Bank Reconciliation:
Without Accounting & Bank Reconciliation:
If you're not using the Accounting features, you can use the below steps for either a full or partial refund:
- Click on the Expense you want to modify
- Click on the Edit button
- If it's a partial refund, change the Grand Total to reflect the remaining balance paid
- If it's a full refund, change the Grand Total to $0
- Adjust the sales taxes if applicable
- Leave details in the Description about the refund (like the original total and amount refunded)
- Click Save to finish.
Alternatively, you can delete the Expense entirely; if you want to do this, it is recommended to check with your accountant first to determine if this is the best option for your business records.