How to create an Expense Category

Modified on Thu, 25 Apr 2024 at 11:26 AM

Why do you need to create an Expense Category

Expenses categories help you create a realistic budget by allocating specific amounts to each area. They also make generating financial reports a snap, allowing you to identify areas for potential savings. 

Expense categories help you sort them into labeled folders, like "rent," "office supplies," or "marketing."

How to Create an Expense Category? 

1. Click Purchases and go to Expense Category

2. Click on Add New

3. Fill up the form and hit Save

3.1 Choose your Chart of Account for your PnL Report in Associated Account.

3.2 If your company is registered to tax, choose GST Tax Code or SST Tax Code

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