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What is the proper way to manage expenses?

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Max

Hello,

I'm operating a retail store. I'm wondering what is the proper way to manage expenses such as:

  1. rental for office or shop.
  2. fuel for in house transportation.
  3. utility bill (telephone, electric, water and etc..).

Thank you.

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6 Answers
1
Best Answer

You can use Journal Vouchers of accounting.

Accounting/Journal Entries/Journal voucher...

Regards, Mustufa Rangwala

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Htoo Myint Naung
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I'm using OpenERP 7.0. Cannot find Journal Voucher in Accounting/Journal Entries/.. Where did it go?

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Vikram
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Please install eInvoicing & Payments for Journal Voucher menu. Best way to maintain these expenses, create a expense accounts and configure properly and then do the transaction.

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murtaza
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HI Vikram,

I am new to openerp and want to know the steps require to enter general expenses like rent by creating expense account and how to configure them properly. explanation with an example would be highly appreciated.

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murtaza
Best Answer

HI Vikram,

I am new to openerp and want to know the steps require to enter general expenses like rent by creating expense account and how to configure them properly. explanation with an example would be highly appreciated.

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Hi Murtaza,

The best is first Create Your Expence Accounts.

Account Name - Rent Shop

Parent -  Liability.

Internal Type - Regular

Account Type - Expence.

Create All the same way. Now go to Journal Entry

and Select The bank or Cash Journal and Do DR/Cr entry in Rent Shop A/C then TAb Tab....

it will automaticaally create DR/Cr Entry for Cash / Bank then save and Post.

 

 

 

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Keenmeng Lew
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Max,


You can use Vendor Bills to record the expense and payment.  After that you can reconcile it against your cash or bank account.


Cheers!

km

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samba
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Hi All,

I want to enter rental expenses for Rs 100000 with tds tax 10 % . which menu is the right way to enter this transacton.

I have tried  from Accounting->journalentries-> journal vouchers and journal entries we are unable to select taxes like "tds" to do that. I have to go to journal items screen there we have column to select taxes. Is it right way to enter expenses from journal items screen?

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mihir shah
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why dont you try it with supplier invoice . and then add TDS