How do I create an expense?

Expenses and Bank Reconciliations Expenses How do I create an expense?

Creating an expense in Keepler is a straightforward process that helps you keep track of your business spending.

Note: Before you can create an expense, it's recommended to have the corresponding supplier in your network. The supplier's profile contains details that can be quickly pulled into the expense form, saving you time.

You can start creating suppliers from the Contacts section at keepler.app.com

Starting from your Dashboard

From the main navigation menu on the left, click on the Accounting Space icon.
Select Expenses from the expanded menu. This will take you to the main Expenses dashboard.

The Expenses Dashboard

The main expenses page provides a complete overview of all your recorded expenses.

To start a new expense, click the + New expense button in the top-right corner or the Create your expense! tile.
You will then be prompted to choose between creating a single Purchase or an Expense Report. For this guide, we will select Purchase.

Creating a New Expense (Purchase)

After selecting Purchase, you will be directed to the expense creation page. This page allows you to input all the necessary details for your new expense record.

Here's a breakdown of the sections on the left-hand side menu:

Labeling & Financial Analysis

This section is for categorizing your expense for accurate financial tracking. This is an obligatory step to ensure your expenses are properly organized.

Choose the appropriate labels and financial analysis categories: Clicking on this section will open a list of predefined categories such as "Logistics & Transport," "Advertising," and "Assets." Select the one that best describes your expense. This helps in generating detailed financial reports and gaining insights into your spending.
For more detailed accounting, you can click the Advanced button to select specific accounting codes, such as "Purchases of 'group a' goods (6111)".

Assign to Customer/Project

If the expense is billable or associated with a specific project, you can allocate it here.

Allocate expenses to specific customers and projects: This is useful for tracking project costs and for future invoicing.

Currency & language

Set the currency and language for the expense document.

Choose your language and currency for optimized expense management: Ensure the currency matches the actual transaction.

Payment method

Specify how the expense was paid.

Choose your preferred payment method for your expense: This helps in reconciling your accounts.

Attachments

Keep your records complete by attaching relevant files.

Drop your files, images, here: You can add receipts, invoices from the supplier, or any other supporting documents.

Filling out the Expense Details

In the main panel, you will fill out the core information for the expense.

Supplier

Select the supplier from the dropdown list. This is a required field.

Date

Enter the date of the expense. This is also required.

Status

Set the status of the expense (e.g., Submitted, Approved).

Description

Add a brief description of the expense.

Choose payment receipt/invoice

You can manually add line items or use Keepler's AI-powered scanning feature. Click the icon to upload a receipt or invoice. The system will automatically scan the document and fill in the line items, subtotal, and taxes for you.

After filling in all the details, click the Save changes button to create the expense.

Next: Learn how to manage your Expenses in details.

Keepler