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Expenses is new to ProfitTrain 2.0 and as such is fairly straight forward. To get started click on the expenses icon in the main toolbar. On the left you'll see a source list displaying some default Expense Categories and as you select a category the table on the right will change to show expenses of that category.

When getting started you may want to add to or delete from the default expense category list. To do this use the plus and minus buttons at the bottom of the source list. You may also want to refer to your previous tax return to reference the tax categories you and your accountant typically file things under.

To create a new expense record; highlight the category this expense should go under, then use the New button at the bottom of the table or use the right click menu to Create a New Expense.

Each expense has a cost type (similar to invoice line items). There are four cost types in ProfitTrain:

  • Fixed -- a flat cost like $50.00.
  • Time -- a calculated cost based on the hourly rate and total time.
  • Product -- a calculated cost based on the product cost and quantity.
  • Distance -- a calculated cost based on the mileage rate and distance traveled.

Properties of an expense record beside the cost type are:

  • Category -- the category the expense belongs too.
  • Date -- the date of the expense.
  • Note -- a short description of the expense.

If you store all of your business expenses in ProfitTrain you can use the built-in reports in addition to the the spreadsheet friendly CSV export to easily tally up each category.

Using Expenses on an Invoice

Let's say you are a photographer and have a new gig that requires travel. In your agreement the client has agreed to pay all travel expenses. To add these expenses to the invoice, simply create a line item as you normally would, with a cost type, cost details and description. There is a column in the line item table that shows an expense category pulldown. For the line items you want to mark as expenses, use the pull down to associate the line item with an expense category. In this example we would probably use the travel category.

On the resulting PDF invoice expenses will be included in the total but will be pulled out into a table of their own as well.

When you publish this invoice to the client, each line item that was marked with an expense category will create a new expense record, mirroring the details of the line item.