EXPENSES: This is where you'll forecast all the expenses that are not directly related to your product sold.  An expense is a cost that is paid in exchange for goods or services. The purchase of a capital asset such as a building or equipment is not an expense.


Some examples of expenses include:

  • Rent;
  • Office supplies;
  • Advertising;
  • R&D;
  • Electronic equipment;
  • etc.


IMPORTANT Employees are NOT an expense. 

For more information about Employees, and how to enter them in Budgeto, take a look at the following article from our Knowledge Base: How to enter employees


How to fill the EXPENSES


Click here to access this section within the Budgeto app


During your first visit, your EXPENSES section will be empty (even if you have imported some accounting/historical data).


PRO-TIP: Don't stop at just one expense, you can enter as many expenses as you want into Budgeto! Multiple expenses entered will help make your financial reports more detailed.


1- ADD: This is where you Add a new expense. 



Check the PDF (located at the bottom of this article) for a list of all the expenses available by default in Budgeto.


2- CATEGORY: This is the list of categories of expenses available. You can manage categories using the Expenses Categories (13) option. 

    EXPENSE: This is the list of expenses for each category.  You can manage expense using the Expenses Categories (13) option.

3- COMMENT: This is a filed to insert a comment for each expense. This field is optional.

4- AMOUNT: This is the total amount ($) of each expense for the chosen frequency. 

5- FREQUENCY: This is the frequency of occurrence of each expense (per month/per year/unique-one time only)

6- STARTING IN: This is the first month of occurrence of each expense

7- ENDING IN: This is the last month of occurrence of each expense

8- PAYMENT TERM: This is the number of days you have to pay your suppliers after receiving goods or services.  You have the choice of up to 12 months before, or up to 12 months after 

9- TAXABLE: Check this box if you can get a refund for the sales tax paid when buying goods or services. 

10- INFLATION: This is your expenses annual inflation increase, in percentage (%). You will also have to select which month the inflation of your expense begins

11- HYPOTHESIS:  This space is intended to write useful information about the product.  This information will be available to all of whom you share your budget with.  Note that when you export your budget, this information will not be available in the PDF and the Excel

12- GRAPH: This is a visual representation of the expense schedule you entered into Budgeto  

13- EXPENSES CATEGORIES: This will bring you to the Expenses Category menu.
Read the following article from our Knowledge Base on how to add your company's own unique expense(s):

-How to add a new "Category" and "Type" in the expense form/chart of accounts

14- PLANNING: If you want to manage your schedule manually.  Note that if you change any values from steps (4), (5), or (6), the schedule will erase the amount you input manually.  



IMPORTANT Don't forget to press on SAVE once you are done.  


PRO-TIP Click on the arrow to the right of the word "SAVE" and select "Save & copy". This will allow you to save your current entry, and then bring you to a new entry page, where all the previous information is already entered

This will allow you to make small modifications to the NEW current entry, without having to refill every box again. 



Example of rental Expense


Situation: Company XYZ recently signed a lease in a popular downtown area. Here is some information: 

  • The lease is a 4 year office space lease (January 2021- December 2024).
  • The rental expense for the office space is $2,000.00/month.
  • There will be a 5% inflation rate each year after 2 years have passed (Beginning on January 2023).
  • Payment term is 1 month after.


Here is how the situation will be entered into Budgeto


Example of a donation/charity gift


Situation: Company XYZ makes a donation to a local charity (Helping Hands) during a fundraising event. Here is some information:

  • The donation was for $1,000.00
  • The donation was made in August 2020
  • It is a one time event (only made one donation)
  • There are no payment terms
     

IMPORTANT A donation made is located in the "Social costs" category and the expense is labelled: "Donation & Sponsorship". 



--------------------------------------WHAT'S NEXT---------------------------------- 


Now that you have finished entering all your expenses information into BUDGETO, it's time to move on to your employees (a person who is hired to provide services to a company on a regular basis in exchange for compensation).

The menu "Employees" allows you to hire employees, to identify their first month of work and to manage their salary on an annual or monthly basis.

Employees are just as important as expenses when building a budget. Get started with this article from our Knowledge Base:


- How to enter employees


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Related Articles (Please refer to the links below) 


- How to enter employees

- How to enter sales

- I'm new to Budgeto, where to start?

- What to do if I have a question / Customer support