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How do I create and capture Operating Expenses?

How do I create and capture Operating Expenses?

Owned by Bryan Alborough
Jun 27, 2024
4 min read

Aura has the functionality for you to capture payments that are not directly linked to any profit inducing expenses. These could include utility bills, repairs and maintenance or other store expenses that do not add or affect your stock items. 

Expense Categories

Before an operating expense may be captured, categories as well as expense items need to be added to the system first before it is linked. In order to do this, you need to go to BackOffice> Lists> Expenses> Categories:

You will then be presented with the following window. Click on the “+” button and then type in the name of the expense category you would like to add:

 

Once done, click on the tick at the top to save the changes:

 

Once this is done, you will need to go to Lists> Expenses> Expense Items:

Once there, you will be presented with the following window:

 

In order to capture operating expenses, you need to first create the expense item that you need to capture. You will be able to do this in the above window. The following fields needs to be captured first:

 

  • Expense Code - This displays the unique ID code for the selected expense item

  • Description - This displays the name for the selected expense item

  • Last Paid - This shows the date that the selected item was last paid for

  • Category - This displays the category for the selected item

  • Subcategory - This displays the subcategory for the selected item. This is an optional item used for making more specific selections when capturing expense payments. You may leave this field blank if you wish

  • Supplier - This displays the supplier of the services for the selected expense. You need to manually capture a supplier onto the system if the supplier does not exist. You can follow this link to show you how to add a supplier to the system. 

  • VAT Inclusive - Here you need to enter the cost of one unit of measure for this expense item

  • VAT Exclusive - This displays the amount excluding VAT. This figure will work out automatically from the VAT inclusive amount

  • Order Quantity - Here you select the default quantity for the selected item

  • Active - Here you can select whether or not the selected item is active or not

  • VAT Ex. - Here you can select whether or not the item is VAT exempt or not. If ticked, the item does not have any VAT

 

Once filled in it should look like the below example:

 

 

You have now successfully created an expense.

Capturing an Operating Expense

Once you have created the expense item, you can capture them as an operating expense by going to Activities> Capture Operating Expenses:

 

Once there you will be presented with the following screen where you will need to click on the "+" sign:

 

You will be presented with the following panel. Select the expense item that you wish to capture and then click OK:

 

Once you have selected the expense item you will be presented with the following window:

 

Once complete, the operating expense will be successfully captured onto the system: