Track every expense by category
Rent, wages, utilities, repairs and every other cost of running the business can go into SeroPOS next to your sales. Each expense carries a category, tax, receipt and payment, and it flows straight into profit and loss so your profit figure is real.
Expense tracking in SeroPOS
Expense categories
Set up expense categories such as rent, utilities or repairs, each with a name and an optional code.
Receipt attached
Attach a photo or PDF of the receipt or bill to the expense so the paperwork is never lost.
Tax on expenses
Apply a tax rate and the tax paid shows in the expense tax tab of the tax report.
Expense for a contact
Record who the expense was for, a staff member or a contact, which helps with reimbursements and supplier costs.
Refunds as expenses
Tick Is refund when money comes back, for example a returned purchase or an overcharge refunded.
Paid now or later
Record the payment on the expense, in full or in part, and link it to the account it came from.
Adding an expense
Expenses are under Expenses in the back office. Choose the business location, the expense category and the date. The reference number fills from your expense prefix. Enter the total, apply a tax rate if one was charged, and add a note describing what it was for. Attach the receipt or supplier bill as a document.
You can record who the expense was for: a user, such as a staff member being reimbursed for supplies, or a contact, such as the landlord or a repair company. That makes it easy to find all expenses for one person or business later, and the sales representative report includes expenses per user.
Categories that match your books
Set up expense categories under Expense Categories. The list is flat, so when one heading is not enough, add separate categories such as Utilities - Hydro, Utilities - Gas and Utilities - Internet. Use the same headings your accountant uses and the expense report will line up with their working papers. Fewer, clearer categories make reports easier to read than dozens of tiny ones.
If you send your books to QuickBooks, each expense category maps to a QuickBooks account in the integration settings. Expenses then go across to the right account with their tax, so you do not have to recode them on the other side. Without the integration, expenses stay in SeroPOS and its reports, ready for your accountant.
- Rent and occupancy
- Wages and contractors
- Utilities and phone
- Repairs and maintenance
- Marketing and supplies
Tax and refunds
Tax on an expense is recorded separately from the total. The tax report has an expense tax tab beside input and output tax, and the overall figure is output tax minus input tax minus expense tax. That gives you the tax you collected less the tax you paid, ready for your return.
Money sometimes comes back: a deposit returned, an overcharge refunded or an item sent back. Tick Is refund on the expense and it reduces your expenses rather than adding to them. The refund carries its own date and reference, so the history stays clear. Your accountant can see refunds separately when they review the year.
Paying and reporting
Add the payment on the expense when you pay it, or leave it due and pay later. Part payments are allowed. If payment accounts are turned on, link the payment to the cash, bank or card account it came from, so the account book and cash flow report include it.
The expense report shows totals by category with a chart for any date range and location. Expenses are also part of the profit and loss report, which takes your gross profit and subtracts expenses to give net profit. Seeing both on the same screen helps you spot a cost that has crept up month by month.
Frequently asked questions
Can I record expenses from the till app?
Expenses are entered in the web back office under Expenses, where you can attach receipts and choose categories. For cash taken from the drawer during a shift, the app's Cash Pay Out records the amount and a note and prints a slip.
Do expenses show up in profit and loss?
Yes. The profit and loss report lists expenses and subtracts them from gross profit to give net profit for the period and location you pick. The expense report breaks the same expenses down by category with a chart. Pick any date range and location.
How do I record a refund from a supplier or landlord?
Add an expense in the same category and tick Is refund. It reduces your expenses instead of adding to them. Attach the refund note or bank record as the document so you can show where the money came from. The refund then appears in the expense report as a reduction.
Can I claim the tax I paid on expenses?
Apply the tax rate when you record the expense. The tax report shows expense tax in its own tab, and the overall figure subtracts it from the tax you collected. Check with your accountant which expenses qualify for an input tax credit.
Can I keep the receipt with the expense?
Yes. Each expense has a document field. Upload a photo or PDF of the receipt or bill and it stays attached to the expense record, so it is there when your accountant or an auditor asks for it. You can download it again whenever you need it.