Hi @termeek
You can create a purchase invoice as normal, and then add the project tag to it afterwards. On all invoices, purchases, and estimates/quotes, you will see this option in the top left-hand corner. Clicking it will add you to create a new project tag, or assign it to a new one:
While you can create a separate bank account for the project if you wish, with the project tag, you can track profit and loss for that specific project, and the cash movement too. You can access all this under Reports >> Projects, and then pick your project.
You would just create a standard purchase invoice. If the expenditure is as a result of providing money for the business, you could tag it as ‘General Purchases’. It may be seen better to log this against something like sub-contractors or something similar. However, I’m not an accountant so it may be best to seek clarification on that.
As the director, you wouldn’t personally have any expenses (other than perhaps wages), but rather just the cost of providing the service (room booking, promotional material printing, etc.), which you should have an invoice or receipt for. These would be just created as a purchase invoice, and if you wish, tag them to the project too.
While you may have a wage associated with this, you’re not able to associate this directly. You can, however, account for this within the project itself. Take a look at this topic for info.
I hope that helps 