27. Expense ClaimsEnglishالعربيةfrançaisTagalogहिन्दी

Expense Claims

OVERVIEW

The costs, other than the actual claim cost, that are associated with paying a claim. The economic costs that a business incurs through its operations to earn revenue. In order to maximize profits, businesses must attempt to reduce expenses without also cutting into revenues. Because expenses are such an important indicator of a business's operations, there are specific accounting rules on expense recognition.

To enter an Expense Claim:

• Main Screen
• Select Purchases Module
• Select Expense Claim Request
• Enter who the request is being submitted too
• Enter the date
• Enter the Description
• Date of Claim
• Supplier - if any
• Select an Account - this will bring up your Chart of Accounts Lookup List
• Any description you wish
• Attach a copy of the invoice/bill/baggage claim etc
• Enter Amount including tax
• Tick reimburse if it is for a specific employee
• Add any comments required
• Ref #
• Pay To - if required
• Customer Name
• Due Date
• Enter any comment in the Comment Box
• Click Save

OR

• Main Screen
• Select Employee Module
• Select Expense Claim Request
• Follow same instructions as above