How to Add an Expense

Introduction #

Effectively managing expenses is crucial for maintaining accurate financial records and controlling costs. This article provides a step-by-step guide on how to create and manage expenses in the Cosmic ERP Accounting module.

Prerequisites #

Before you begin, ensure you have the following details ready:

• Employee
• Customer (if applicable)
• Vendor (if applicable)
• Category
• Account
• Items

Steps to Add an Expense #

1. Login to Cosmic ERP
   • Enter your credentials and click on the login button.
2. Navigate to Accounting System
   • Once logged in, locate and click on the Accounting System from the main menu.
3. Access Purchases
   • In the Accounting System, find and click on the ‘Purchases’ option.
4. Select Expense
   • Click on the ‘Expense’ option within the Purchases section.
5. Create a New Expense
   • Click on the create button to initiate the creation of a new expense.
6. Enter Expense Details
   • Employee: Select the employee for whom the expense is being recorded.
   • Payment Date: Choose the payment date from the calendar.
   • Category: Select the relevant category for the expense.
   • Account: Select the account associated with the expense.
   • Item: Choose the item related to the expense.
   • Quantity: Enter the quantity of the item (if applicable).
   • Price: Input the price of the item.
   • Amount: Enter the total amount for the expense.
7. Create Expense
   • Once all information is entered, click on the ‘create’ button to finalize and save the expense details.

Conclusion #

Adding an expense in the Cosmic ERP Accounting module is straightforward and ensures accurate recording of expenses. Following these steps will help you maintain clear and precise financial records while managing costs efficiently.