How to show the Prepaid Expense?
Step 1. Book an Invoice for the whole amount under Expense Tracker and pass the relevant Payment Entry.
Step 2. Create a ledger head "Perepaid Expense (E.g. Prepaid AMC-Lift) under General ledger-->>Chart Of Accounts-->>Asset.
Step 3. Pass a journal entry to show the Prepaid Expense for the by Debiting the Prepaid Expense Account and crediting the Same Expense Account against which you have passed the payment Entry.
Step 4. In the current Financial Year pass the reverse Entry by Debiting the Expense Account and crediting the Prepaid Expense Account
Note: This Entry will be passed after the Year End.
How to view the Expense Comparison Report?
Below are the steps for the expense comparison report: Step 1: Login to ADDA ->> Admin ->>Expense tracker ->> Expense Comparison Step 2: Put the date range ->>Click on the “Fetch report” button. Note: Only the expense invoices posted are considered. ...
How to add a Expense head
Go to General ledger>>Chart of accounts>>Expense>>Enter the details i.e Groups, GL Account No, Account Name, and Bank account>>Click on Save changes.
How to Reverse a Expense Voucher?
Expense Vouchers can be reversed individually against the particular vendor by following the below steps: Step 1:Go to Expense tracker>>By Vendors>>Click on View against the vendor name against which you want to reverse the voucher. Step 2:Click on ...
How to Create/Add a Expense Vendor?
Step 1: Go to Expense tracker>>By vendors>>Click on ADD Vendor. Step 2: Enter all the details related to the vendor>>Click on save. This vendor name will be reflecting under By Vendors to post the entries.
How to make expense payment entry in bulk?
Batch Upload: Go to Expense tracker>>By vendor>>Bulk posting>>Click on Bulk upload expense with payment>>Enter all the details for the required vendor i.e Expense head, instrument type, instrument number, from a bank account, Date, Amount, and ...