How to Add Expenses to a Job in Base: A Comprehensive Guide
Context:
Managing expenses is vital in any business. Service providers dealing with multiple projects and tasks need to track their spending on each job effectively. Clear, concise, and easily traceable financial details for every job are an absolute must.
How to Create and Add Expenses in Base:
1. Why creating an expense is important:
Every purchase and service adds to the overall cost of your job. Maintaining accurate records not only helps determine profitability but also simplifies the process of reconciling accounts.
2. What makes expense management in Base different:
Base simplifies the process of logging expenses and effectively categorizing them for optimal organization. Whether it's a product or service, every expenditure can be easily detailed, enabling the creation of systematic purchase orders.
3. Understanding the Expense Types:
Unrelated Expenses: These are expenses that haven’t been connected to a particular charge within a job. Their existence is more for the sake of organizational clarity rather than any specific functionality.
Related Expenses: These are expenses that are tied or related to a specific charge within a job, giving a birds-eye-view of a job's financials.
4. Go to "Related Charge":
A Related Charge is the charge to which an expense is linked or related. When relating charges, they may seem to vanish, but they don’t really disappear. Instead, they are integrated with the expense, ensuring a cohesive financial view.
5. Steps to Add Your Expenses:
First and foremost, though not mandatory, it's beneficial to have a charge already crafted, simplifying the linking process.
Head over to the Transactions Tab within your chosen job's specifics.
Hit the Add New button. This is stationed both at the top and bottom of the Expenses Table.
A form titled Add Transaction will present itself. Navigate through, inputting all essential details.
Upon completion, click on the Add Transaction Button. By default, your entry gets placed in the Unrelated Expenses Table, indicating the freedom Base provides in recording expenses sans any charge linkage.
To refine or archive the expense, use the buttons on the table's left side.
A Step Further:
Your expenses are a reflection of your business operations. With Base, you can manage expenses. Once you've mastered adding expenses, delve into thorough financial management. Base ensures every penny is accounted for and every job remains financially sound.