Purchases and Expenses

Purchases and expenses

This is where you record what your business buys and spends. A purchase is a vendor's bill entered line by line, with items, quantities and tax. An expense is a quick entry for one amount, such as rent or a taxi fare.

Both are kept in one list. Each shows what is still owed, and both are paid in the same way.

Find your way round the list

Open Purchases & Expenses in the sidebar, then Purchases & Expenses again.

1. 1New Purchase opens the full form for a vendor's bill.
2. 2New Expense opens the short form for a single amount.
3. 3Scan Invoice reads a PDF or a photo of a vendor's bill into a new purchase for you to check.
4. 4The tabs lead to related pages. Manage Vendors is your vendor list, Scanned Documents holds the files you scanned, and Active, Recurring and Deleted are views of this list.

• On Overview, Purchases and Expenses Summary and Purchases and Expenses Graph total what you spent, what you paid and what is still due for the filters you chose.
• The Filters panel narrows the list by Status, Vendor, Contact, Date Range, Expenditure Type and Acknowledgement Status.
• Expenditure Type separates Purchases, Expenditures (quick expenses) and Petty spends.
• Click the + under Expand Line Items to see the lines of a purchase without opening it.
• Download As saves the list as a CSV file. Its arrow also offers Download as CSV with Line Items, which gives one row per line.
• Report tabs such as Vendor Report, Payment Report and Line Item Report open the reports for purchases.

Record a purchase

Click New Purchase.

1. 1Check the Purchase No and the Purchase Date, and enter the number printed on the vendor's bill in Invoice No. PO Number and Due Date are optional.
2. 2Under Billed By, choose the vendor. If they are not in the list, Add New Vendor creates them without leaving the page.
3. 3Enter what you bought. Add New Line adds an item with its quantity, rate and tax.
4. 4Use Add Discounts and Add Additional Charges under the totals, and Add Notes or Add Attachments to keep a remark or the vendor's original bill with the record.
5. 5Click Save & Continue to save and open the purchase, or Save & Create New to enter another.

• If you use Advanced Accounting, you also choose the Voucher Book the purchase is filed in and each line's Purchase Ledger.
• Turn on This is a Recurring purchase for a bill that repeats, such as a monthly subscription. KyDec then creates a draft with the same details each period for you to check.

Record a quick expense

Click New Expense. The form is a single card titled Expenditures.

1. 1Set the Expense Date and choose who you paid under Select Vendor. For a small cash spend with no vendor, open that list and click Petty Expense.
2. 2Enter the Amount Spent. If tax was charged, choose it under Select Tax Type and enter its rate; the tax is worked out on the amount and added to it.
3. 3If you use Advanced Accounting, pick the Expense Ledger the cost belongs to, for example rent or travel.
4. 4Add Notes, or the bill itself under Attachments, if you want them kept with the expense.
5. 5Click Save & Continue, or Save & Mark Payment to save and go straight on to recording the payment.

• Expense Number is filled in for you, and the last number used is shown beside it.
• Invoice Number is the number on the vendor's bill, if there is one.
• This is a Recurring expenditure repeats the expense each period as a draft.

Pay a purchase or an expense

1. 1Choose Mark Paid on its row, or Record Payment in the header of the purchase's own page.
2. 2Amount paid to Vendor (A) starts at the amount still due. Lower it for a part payment.
3. 3Set the Payment Date and the Payment Method, and choose the Payment Account you paid from.
4. 4Click Save.

• The payment is saved as a payout receipt and listed under Payout Receipts.
• If the vendor holds an advance from you, Available Credits shows it with (Use Credit), so you can pay the purchase from it.
• Will Pay Later, on the purchase's page, sets an email reminder for the day you choose.
• Once something is paid, the row menu gains Send Payment Receipt and Remove Payment.

What else you can do from a row

The ⋯ at the end of a row opens the full menu. The icons beside it are shortcuts.

1. 1Mark Paid records a payment to the vendor.
2. 2Duplicate starts a new purchase with the same details.
3. 3Send Email and Send Whatsapp send the purchase to the vendor. Download saves it as a PDF.
4. 4Delete moves it to the Deleted tab; Cancel, below it, keeps it in the list as cancelled.

• Quick Preview shows the purchase beside the list. Open and Edit take you to its page and its form.
• Send for Approval puts it on an approval workflow, if you use them.
• Convert to New Document starts another document from a purchase. It is not offered for quick expenses.

Statuses, cancelling and deleting

• A purchase is Unpaid until you record a payment, Part Paid while something is still due, and Paid when nothing is. It reads Overdue once its due date has passed.
• Cancel asks for a reason and marks the purchase Canceled. Payments already recorded on it stay; take them off with Remove Payment if they no longer apply. Revert brings a cancelled purchase back.
• Delete asks for a reason and moves the purchase to the Deleted tab. Any payment on it is deleted with it.
• On the Deleted tab, Restore brings a purchase back and Delete Permanently removes it for good.