Expense Type

[Mimi]

Hello,

I am just starting to use this software and was wondering what I should be selecting as Expense Type for ‘tools’ used to carry out the jobs by the company and what expense type should be used for items to complete the jobs. Often these are of small value (of a few pounds), would these still be classified as stock?

Thank you

[Lurch]

Unless you need to track all these costs individually later via nominals they would probably be fine under general purchases. Stock you wouldn’t really use unless you actually had a large stock inventory and even then only under certain circumstances.

[Mimi]

Thank you for your advice. The costs attached to a job would then be recharged onto the client using the option ‘Rebill to Clinet’ , in this case would they still be posted correctly if I use the General Expenses?
The stock advice makes complete sense.

[Lurch]

@Mimi

The costs attached to a job would then be recharged onto the client using the option ‘Rebill to Clinet’ , in this case would they still be posted correctly if I use the General Expenses?

Yes, the purchase side isn’t touched when you use this option, you’re using the purchase details to esentially just prefill an invoice which would then be created with the relevant sales category nominal regardless.

[Mimi]

Excellent, thank you!