A purchase invoice is an invoice for a product or service. For example, when you order a computer for your business, you will receive a purchase invoice after the order. This article explains how to add purchase invoices to our service and at the end of the page, you will find a detailed explanation of different types of expenses you may add to the service.
You can add expenses to your bookkeeping from the "Expenses" section of the sidebar. You can add a new expense from the "add expense" button located in the upper right corner of the page.
You will then be able to add the necessary information regarding the purchase. You can add a receipt or voucher related to the purchase in the Attachments section. Please note that an account statement extract is not a valid document.
When you add a document to the service, the system automatically reads the information from your receipt and fills it in with the transaction information. This feature is constantly being developed and currently works with images. Please check that the auto-filled information is correct.
The entry details section includes accounting-relevant information about your purchase. Please fill in all options of this section. The name of the company or person is added as the place of purchase. In the case that the seller is a company, the business ID of that company must also be added. Please also add a brief description of the content of the purchase, ie what the expense was about and how it relates to your business.
In the breakdown section, you can select a more specific transaction type for the expense. Press add new line and from the drop-down menu you can choose which type of expense you added. You can read detailed instructions on how to add different types of expenses at the end of this page.
To make accounting easier, you should enter the total amount of the purchase in the "Amount" field. Also check the VAT rate on the invoice and select the correct rate from the drop-down menu.
Once you have added a purchase invoice / expense to the system, it should then be marked as paid on the day you have made the payment. If you have already paid the expense you are adding, you can mark it as paid in the "Payments" section at the end of the process. Click on the "This entry has payments" option and you will be able to mark the expense as paid. Add here the payment date and the amount of the payment.
If you add a receipt that you haven't yet paid, you can mark the expense as paid in the Expenses section by clicking three dots next to that expense and selecting the 'mark as paid' option.
A new window will open in front of you, where you can enter the date of payment and the amount paid. Then press the "Mark as paid" button.
The actual content of the business purchase invoice
We have listed the most common attributes of purchase invoices used in accounting. You can found those options under the entry type section.
- Product purchases
- Service purchases
- Rent expenses
- Representation expenses
- YEL
- Taxes
- Vehicle expenses
- Meeting expenses
- Loan expenses
Product purchases options
More specifically, what does the purchase involve?
- Sales related product and service purchase
- Other business expenses
Please add
- VAT rate %
- Total sum with VAT (€)
Service purchases options
More specifically, what does the purchase involve?
- Sales related product and service purchase
- Other business expenses
Please add
- VAT rate %
- Total sum with VAT (€)
Rent expenses
Please add
- VAT rate %
- Total sum with VAT (€)
Representation expenses
Please add:
- The total amount of the invoice
- Please add to the 'Description' section which customer this expense is related to and what has been the agenda of the meeting.
Representation expenses can be, for example, representation travel expenses, restaurant expenses, catering or space rental. Representation expenses are always directed outside the company.
YEL pension insurance
Please add
- The total amount of the invoice
Taxes
Here you can add the tax prepayments you have paid and their amount.
You do not need to add VAT payment vouchers to the service.
Vehicle expenses
Do you have a car added into your accounting? In this case, you can reduce the actual costs of the car, e.g. fuels, depreciation, insurance and maintenance. If you are adding a car purchased for your company to your accounting, please add the car's contract of sale in the attachment section, or if the car is more than one year old, then please attached a car price estimate.
Choose
- Vehicle expense
- Purchased vehicle
- Rental vehicle's expense
- Borrowed vehicle's expese
Please add
- VAT rate %
- Total sum with VAT (€)
Meeting expenses
Please add
- VAT rate %
- Total sum with VAT (€)
Please also include the participants of the meeting and the agenda in the description section.
Loan expenses
Choose
- Loan payment
- Interest
- Other
Please mark separately the repayment, interest and other financial expenses. Create own rows for these types.