Account type: Expense Account

Account type Expense Account marks ordinary running cost ledgers so that they are offered in Purchase Invoice expense rows, in Expense Claims and in the expense pickers on the Telegram ledger bot. The balance of each builds through the year from Purchase Invoices and Journal Entries, appears as a line in the Profit and Loss, and is closed to Retained Earnings by the Period Closing Voucher. Printing and Stationery - YFF, Office Rent - YFF and Repairs and Maintenance - YFF are examples. Leaving an expense ledger without the type does not stop posting, but it hides it from the quick pick lists and causes staff to post to the wrong head.

Expense for the period = Sum of debits - credits on the account between From Date and To Date

1. 01Go to Accounts Setup > Chart of Accounts and expand Expenses > Other Operating Expenses.
2. 02Open the ledger and set Account Type to Expense Account; Save.
3. 03On Buying > Purchase Invoice > New, pick it in the Expense Head of a service row.
4. 04Submit. The entry below posts.
5. 05Read the year's total in the Profit and Loss Statement.

Set on expense ledgers like Printing and Stationery or Office Rent.

Printing and Stationery - YFF for stationery bills.