How to create an Expense Category

Why do you need to create an Expense Category

Expenses categories help you create a realistic budget by allocating specific amounts to each area. They also make generating financial reports a snap, allowing you to identify areas for potential savings. 

Expense categories help you sort them into labeled folders, like "rent," "office supplies," or "marketing."

How to Create an Expense Category? 

1. Click Purchases and go to Expense Category

2. Click on Add New

3. Fill in the name

4. You can type some description here

5. Choose your Chart of Account for your P&L Report in Associated Account.

6. If your company is registered to tax, choose GST Tax Code or SST Tax Code. If you leave it empty, it will auto-filled in the default value.

(You can check your default value by referring to the placeholder in the fields.)

7. Select a classification

(If you don't see this field, it means your account has not been enabled e-Invoice, you may contact customer service to assist you)

8. Select a tagging (optional)
(If you don't see this, meaning your account has not enabled tagging feature)