Most of your regular business expenses will come in the form of an invoice from a supplier. It is best practice to record the invoices in Actionstep and make the payments against the invoice rather than simply recording a withdrawal from the bank.
Tips
- Set up Templates for regular suppliers to minimize entry time when invoices arrive
- Use the Quick Entry method to enter supplier invoices
- Pay Suppliers using the Batch Export facility where available
- Reconcile your creditors monthly against their statement prior to paying
Using Supplier Invoices for expenses will give you full visibility to your supplier ledger and ageing. (Aged Payables).
What happens if you do not record invoices and only record the bank payment?
- You will lose the ability to search supplier history
- for those on "Accrual" accounting bases it distorts the profit.
Re-Charging Expenses to Clients
You can re-charge expenses to clients by linking either the entire invoice to an action, or selected line items. The amounts will then appear in the action billing area and you can be automatically included in your client bills.
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To make the re-charge show up as "billable" in the action make sure you set a sell price in the supplier invoice line items. You can have Actionstep do this automatically for by adjusting the sales/purchase type configuration in Admin. Select the supplier invoice type and set "Sync Cost and Sell" to "Sync" |
Creating Disbursements from Bank Withdrawals
If you are simply entering expenses as bank withdrawals and wish to re-charge these to clients then tick the "Bill" checkbox on the withdrawal line items and link them to an Action. These items will then appear in the disbursements list in the actions.
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See updated article in Actionstep Help Center: https://support.actionstep.com/hc/en-us/articles/360038096753-Creating-a-supplier-invoice-vendor-invoice |