Enter expense in ps smoothly

Aug 6th, 2022
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How to Enter expense in ps

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hello and welcome to another Frazer tutorial in this tutorial we will be looking at accounting and how to enter your expenses and other bills to the Frazer program if you are using Frazer for accounting you will have other expenses that you may want to add bills for and track things like your rent or mortgage utilities phone fuel and other costs that you dont build directly to your inventory with Frasers enter bills section you can do just that at the top appraiser if you click on accounting and then eight enter bills and hand-printed checks this is where you can enter those bills for your expenses at the top select your vendor the date of bill and date due and the amount if you would like to add an invoice or reference number you can as well as a memo leave the next box unchecked as this is not for a vehicle or added cost for what is this bill for you can select the expense account that you would like those costs to post to Fraser has a pre-loaded list of expense accounts or you can

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Expenses: Cost of Goods Sold. Advertising Expense. Bank Fees. Depreciation Expense. Payroll Tax Expense. Rent Expense. Supplies Expense. Utilities Expense.
Expenses include wages, salaries, maintenance, rent, and depreciation.
The payee name should be the legal name that matches a driver license, passport or other legal forms (i.e. Social Security Card or Visa).
Some common expense accounts are: Cost of sales, utilities expense, discount allowed, cleaning expense, depreciation expense, delivery expense, income tax expense, insurance expense, interest expense, advertising expense, promotion expense, repairs expense, maintenance expense, rent expense, salaries and wages expense,
Expenses are recorded on an income statement.Documentation for expenses include: Canceled checks or other proof of payment/electronic funds transferred. Cash register tape receipts. Account statements. Credit card receipts and statements. Invoices.
The chart of accounts organizes your finances into five major account types, called accounts: assets, liabilities, equity, revenue, and expenses.
Expenses are income statement accounts that are debited to an account, and the corresponding credit is booked to a contra asset or liability account.
Journal Entry for Expenses. Expenses mean the cost of assets or services enjoyed. Expense Journal entries are the critical accounting entries that reflect the expenditures incurred by the entity. Journal entries are the base of accounting. All journal entries construct financial statements.

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