What is an expense?

An expense is an operating cost incurred to a business during an accounting period.

An example could be purchasing new computer equipment for your company - this is (in most cases) an item that you can expense.

Good things to include on an expense item are:

  • The date the expense was incurred
  • The vendor selling the good or service purchased
  • A description of the item or service
  • The price
  • The tax rate and total
  • A copy of the sales receipt or invoice received from the seller

It's a good idea to carefully document and track your business expenses so that you can keep your books in order.

This could be a lot of hassle, but fortunately Quaderno makes entering (and tracking, and importing) expenses a breeze!

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