Expense Entry

An Expense Entry records business expenses such as utilities, office supplies, professional services, or vendor charges.

Expense Entry – Field Details

Primary Document Details

• Party Type – Select whether the party is a Customer, Supplier, or Other.

• Party Name – Choose the specific party from the master list.

• Document Series – Select the document/voucher series under which the expense is recorded.

• Posting Date – Date on which the expense is incurred.

• Title – Short description or title for the expense entry.

• Currency – Select the transaction currency (default: Organization Currency set).

• Exchange Rate – Auto/default 1 for INR; mandatory if foreign currency is used.

Accounting Entries

• Account – Select the ledger account where the expense will be booked.

• HSN/SAC – Specify the HSN (for goods) or SAC (for services) code.

• Price – Enter the expense amount.

• Discount – If applicable, enter discount value.

• Discount Type – Specify whether the discount is in % or absolute value.

• GST Account – Select the GST ledger if GST is applicable (optional, mandatory if GST applies).

• TDS Account – Select the TDS account if TDS deduction is required.

• Add Item – Add multiple expense lines in one entry.

Additional Details

• Account Entry – Displays debit and credit postings of the transaction.

• Comment – Add internal comments or notes.

• Manage Signature – Attach authorized digital or physical signatures.

• Note – Capture additional supporting information about the expense.

Actions

• Save Draft – Click on Draft to save the expense entry as a draft for later editing.

• If in Draft, the expense entry can be updated.

• Submit – Finalize and post the expense entry to ledgers.

• If in Submit , the expense entry cannot be updated.

• View: Click on the View button to view expense entry details.

• Print: Click on the Print button to print the expense entry.

Update:

• Allowed only when the expense entry is in Draft status.

• Not allowed once it is in Submit status.

Workflow & Rules

• Party Type, Party Name, Document Series, Posting Date, Currency, and Account are mandatory.

• Expense can be split across multiple accounts/HSN/SAC codes.

• If GST or TDS applies, respective accounts must be selected.

• Debit and Credit must balance for successful posting.

• Once submitted, entry updates ledgers and impacts reporting.