How to set expense types
The first step to track expenses is to configure the expense types (managed as products in Kiu ERP) that your company allows, from the Configuration menu. When a specific expense is reimbursed at a fixed price, set a cost on the product. Otherwise keep the cost at 0.0 and employees will report the real cost per expense.
Here are some examples to configure:
• Restaurant:
Cost: 0.00 (the cost of the ticket will be recorded on every expense)
• Travel with Personal Car:
Cost: 0.30 (the price per mile reimbursed by the company is fixed)
• Hotel:
Cost: 0.00 (the cost of the ticket will be recorded on every expense)
• Others:
Cost: 0.0
Don’t forget to set an expense tax on each expense type (and an account if you use Kiu ERP Accounting). It’s usually a good practice to use a tax that is configured with Tax Included in Price(see: How to set tax-included prices). That way, employees report expenses with prices including taxes, which is usually the expected behaviour.
Tip
The Sales app allows you to specify unit of measures for your expense types (units, miles, nights, etc.). Go to Sales ‣ Configuration ‣ Settings and check Some products may be sold/purchased in different units of measure (advanced).
