Recording Expenses

This article provides a step-by-step guide on creating new expense entries in Thulo Cloud, allowing you to efficiently track your business expenditures.

Steps to Record an Expense:

1. Navigate to the Expenses section in the Thulo Cloud aside menu.
2. Click on Record Expense.
   

Expense Details:

• Name: Enter a descriptive name for the expense (optional). This name can be used for your reference or be included in the invoice item description if the expense is billable.
• Note: Add an optional note for the expense (for personal use, this note can also be included in the invoice item description if billable).
• Category: Select the appropriate expense category for better organization.
• Date: Specify the date the expense was paid or incurred.
• Amount: Enter the total expense amount.
• Customer: Select the associated customer if this expense is billable to a client (see currency notes below).
• Billable: A checkbox will appear after selecting a customer (if applicable). Check this box if the expense should be recovered from the customer.
• Project: If a customer is selected and has projects configured, a dropdown menu will allow you to assign the expense to a specific project.
• Currency: The currency used depends on the scenario (see detailed explanation below).
• Tax: You can add up to two taxes to the expense.
• Payment Mode: Select the payment method used for the expense.
• Reference #: Add a reference number if relevant.
• Repeat every (recurring expense): Configure recurring expenses to be automatically recreated at defined intervals. This requires a properly configured CRON Job in Thulo Cloud.

Currency Considerations:

• Company Expenses: Expenses recorded for your company (not a customer) will use your base currency.
• Non-Billable Customer Expenses: Expenses associated with a customer but not marked as billable will also use your base currency.
• Billable Customer Expenses: The currency will switch to the customer's preferred currency when marking an expense as billable (unless it matches your base currency).
• Project-Linked Expenses: These expenses will use the project's currency, which could be the customer's currency (if configured) or your base currency.

By following these steps and understanding the currency behavior, you can effectively record and categorize your business expenses within Thulo Cloud, gaining valuable insights into your financial health.