Creating Expenses

To create an expense click on the blue "+" button in the upper left of Ravetree and select "Expense." The expense form shown below is set to Non-Billable. This means that you are not planning on invoicing the expense.

If the expense will be invoiced, the you can click on Non-Billable to change it to a Billable expense. Notice that you now have an option to enter a Billable Amount and Markup %.

You can click on the "more" option located at the bottom of the expense form to show additional options, as shown below:

Expense form field descriptions

Billable

Specify if your expense is billable or non-billable. If the expense is marked as billable, then it can be invoiced.

Member

This is the person who is logging the expense. The member is also the person who is to be reimbursed if the expense is marked as reimbursable.

Reimbursable

Check this box if the expense needs to be reimbursed to the Member who paid for the expense

Reimbursement Status

A reimbursable expense will initially be set to "Pending", but it can be changed to "Paid", "Partially Paid", or "Denied"

Date

The date the expense was incurred.

Expense Category (required)

This indicates the expense category of the expense. Expense categories can be customized in the Admin section of Ravetree on the Admin/Expenses page.

Currency

The currency will automatically be set to the default currency for your company, but can be changed if needed.

Unit Cost (required)

This is the amount of money paid for each unit. For example, if you bought 10 widgets, then this would be the cost per widget.

Quantity (required)

This is the number of widgets purchased.

Tax

This is the tax rate that was applied to the purchase.

Total Cost

This value is automatically calculated using the following formula: Total Cost = (Unit Cost) x (Quantity) + (Tax Amount)

Billable Amount

Billable expenses can have a billable amount that is different from the total cost. This is used when you charge your customer an amount that is greater than the Total Cost. You can enter an amount into this field, or it can be calculated if you specify a Markup % in the adjacent field. The billable amount is the amount that will appear on the invoice if you invoice this expense.

Markup

The markup is an option percentage value that can be used to calculate the billable amount. For example, enter 20 if you want to add a 20% markup to the total cost. The marked up amount will be reflected in the Billable Amount field.

Purchase Order

This field will show the purchase order to which an expense is linked.

Vendor

The vendor is the company from which the expense was purchased. This is a search field that will let you select from any Account you have added into Ravetree.

Receipt

This is where you can upload the expense receipt.

Payment Method

This is where you can indicate the method used to pay for the expense. You can customize the payment methods on the Admin/Billing page.

Work Item

You can optionally choose to link the expense to a work item. This is important if you plan to invoice the expense and if you want to see how the expense impacts the budget burndown (e.g., on a Project expense budget).

Description

Enter any details about your expense. If you invoice this expense, then the details will be visible on the line item (although you can choose to exclude this information on the invoice). Also, the description will appear on the linked purchase order.

Account

You can optionally link the expense to an account. If you have linked the expense to a work item, that itself is linked to an account, then the account will automatically be added.

Retainer

The expense can be linked to a retainer if you want the Billable Amount to burn down the retainer amount for the retainer period in which the expense was incurred.

Contact

You can optionally link the expense to a contact. If you have linked the expense to a work item, that itself is linked to a contact, then the contact will automatically be added. If the expense is billable, then it will be invoiced to the contact

Service Item

Expenses can be linked to service items if you want the ability to run reports for expenses linked to a particular service item.