Column headers (expense types) represent the types of expenses your business deals with. By grouping your payments under specific expense types, you can analyse your results to show where you are spending your money.
This helps you make decisions.
You have a choice of up to 13 MONEY OUT Column Headers (expense types) to be selected from a pre-defined list appropriate to your business type. If the expense type is NOT listed, select the edit function on the column header and change to the expense type you require.
The system is DELIBERATELY limited to 14 expense types. You also have one "Other Expenses" column that fits everything else.
It may seem frustrating to limit this, but you will find more meaning and better management by sticking to this limit. Users typically struggle trying to assign a payment to an expense type. Don't stress it. If there is no HEADER then just use the default "OTHER EXPENSES" to list your payment. By using "Other Expenses" you will be required to write a detailed description of the payment for future reference.
HOW TO CHANGE A HEADER
Simply move your mouse over the existing Column Header and Click. Then type in the new category label and accept.
MONEY IN
You MONEY IN columns are limited to four Columns, they are not initially displayed. Click the "+" symbol to add more column.
WHAT NOT TO DO
When choosing column headers (expense types), choose the ones you expect to have the most transactions in a year. Do NOT choose headers where only one or two transactions occur during a year. For those transactions use "OTHER EXPENSES" and describe the transaction. This will allow you to have useful column headers for your most frequent expense items. If you DON'T do this, there's a good chance you will run out of useful Column headers and your "Other Expense" column will have so many transactions that simple interpretation will be unachievable.