How to Record and Activate Costs Tracking in Invoice123?
Tracking costs is a crucial aspect of maintaining a healthy financial state for businesses involved in trading or service provision. With Invoice123, you can effortlessly activate the Expenses functionality in our platform, enabling you to accurately and transparently track your business expenses. Stay on top of your financial health with ease and clarity.
Select EXPENSES from the menu bar
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11353_u06mlm.png)
Click CREATE EXPENSE
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11364_12ls8t8.png)
Select the type of expenses
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11372_no20f2.png)
Enter the REFERENCE NUMBER
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11380_1xch33r.png)
You cannot issue two or more expense invoices with identical serial numbers to the same supplier.
Complete the SELLER DETAILS
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11393_18z2qdy.png)
Fill in the details of the PRODUCT/SERVICE purchased
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11401_1lqo60y.png)
You can add additional TYPES OF VAT in the company's business settings, under INPUT VAT
Select the TYPE OF EXPENSE
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11404_147xss.png)
Common
Representational
Materials, supplies, raw materials and parts
Fixed asset
Taxes, fees and charges
You can add additional TYPES OF EXPENSES in the company's activity settings, under EXPENSES
Create an expense
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11411_cnfhnd.png)
Automatically consider all newly created expense as PAID
Add additional TYPES OF EXPENSES
Change the PAYMENT TERM
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11413_1t55via.png)
How to track expenses in Invoice123?
Select EXPENSES from the menu bar
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11353_u06mlm.png)
Click CREATE EXPENSE
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11364_12ls8t8.png)
Select the type of expenses
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11372_no20f2.png)
Enter the REFERENCE NUMBER
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11380_1xch33r.png)
You cannot issue two or more expense invoices with identical serial numbers to the same supplier.
Complete the SELLER DETAILS
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11393_18z2qdy.png)
Fill in the details of the PRODUCT/SERVICE purchased
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11401_1lqo60y.png)
You can add additional TYPES OF VAT in the company's business settings, under INPUT VAT
Select the TYPE OF EXPENSE
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11404_147xss.png)
You cannot remove the following standard cost types from your settings:
Common
Representational
Materials, supplies, raw materials and parts
Fixed asset
Taxes, fees and charges
You can add additional TYPES OF EXPENSES in the company's activity settings, under EXPENSES
Create an expense
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11411_cnfhnd.png)
Additional settings
Automatically consider all newly created expense as PAID
Add additional TYPES OF EXPENSES
Change the PAYMENT TERM
![](https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-06-05-at-11413_1t55via.png)
Updated on: 05/06/2024
Thank you!