The Expenses page lets you capture all of your non-payroll expenses and forecast them into the future. In this article, you can learn how to add, edit, or delete expenses from your expense budget.

Adding Expenses

To add expense items:

  1. On the Expenses page, click + Add and then click Add Item.

2. Enter the expense details; such as Expense Department, Expense Name and frequency (recurring or one-time).

3. Select the Expense Type:

Expense Types:

  • Amount: This allows you to budget a specific amount.

  • Amount Per Employee: This allows you to build a budget based on the total number of employees at a given time. (Incremental Costs Per Employee)

  • As a Percent of Revenue: Will drive the expense based on the total revenue.

Repeat steps 1-2 for each of your expenses until you’ve added all known expenses.

You've completed your expense forecast! As new expenses arise, return to the Expenses page and add these items at any time.

Read our blog to learn more about Start-Up Costs!

How to Set Budget from a Connected Accounting Platform

After integrating your third-party accounting tool there are a few steps to setting up your expense forecast. In this guide, we will show you how!

Step 1: Once you are brought back to Finmark, check your expense summary to see if your accounts have been pulled in successfully. From here, you will do a one-time organization of your expenses to ensure that the expenses are mapped to the correct departments.

Step 2: After organizing your expenses, you can begin to forecast your expenses by editing each expense.

Step 3. Forecasting your Expenses

Start by filling in the details of your expense forecast.

  1. What is the frequency? (One-Time Expense or Recurring)

  2. Then select the Expense Type (what is driving the forecast?)

    1. Amount

    2. Amount Per Employee

    3. As a Percent of Revenue

    4. Custom Formula

Step 4: Save your expense edit then continue to edit your expenses till you've completed your forecast.

Editing Expenses

To start, go to the Expenses Section then scroll down to the Expense Summary and click the icon next to the expense you would like to edit.

Then click Edit Expense.

From here, an Edit Expense window will pop up. Then you can make the desired changes and click Save Expense.

Deleting Expenses

Step 1. On the Expenses Section, you will see an edit icon to the right of the expense you would like to delete, click the icon shown below.

Step 3. Select Delete Expense.

Step 4. Finish deleting your expense by reading the message that appears and clicking delete.

Adjusting Expense Actuals

What a quick video to learn how to adjust your expense actuals.

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