I've just realised the the software won't include expenses on the invoice submitted. A final invoice to the customer ( in my case ) will have the fee for services ( income ) and car hire, airfare, hotel, food & drink ( expenses ). I have been correctly allocating fees to the 'Income account' whilst incorrectly allocating the associated expenses to 'Expense accounts' thinking that the software would differentiate between the two on receipt of payment. It seems I'm wrong :-(
Each individual expense is correctly referenced as 'Money paid out' and reconciled against the bank statement so I guess those expenses for any 'Job' must be allocated to the 'Income account' on the invoice. I presume that the fact that these transactions are expenses and NOT income is reconciled by the equivalent individual records as 'Money paid out' ?
PS. Fantastic software :-) . . . still a lot to learn though !
Hi Paul,
Glad to hear you like the software!
Yes you are correct - Solar Accounts is not clever enough to 'link up' the expenses for a job and put them on an invoice. You will need to do this manually by:
a) recording Money Paid Out transactions for the expenses; and
b) adding lines to the invoice for billable expenses. The account on these lines should be 'Sales Income'
Regards
