How to Track Expenses with Sage Timeslips - dummies

How to Track Expenses with Sage Timeslips

By Elaine Marmel

Often during the normal course of business, you incur expenses you record with Sage Timeslips that you want to pass on to your clients. Typically, you and your client agree in advance that the client will cover the costs you incur on his or her behalf. In Timeslips, you use expense slips to record these expenses.

Entering an expense is much like entering a task; to create an expense, follow these steps:

  1. Choose Names→Expense Info.

    The Expense List window appears, looking just like the Timekeeper List window.

  2. Click the New (plus sign) button on the toolbar at the top of the window.

    The Expense Information window appears, looking just like the Timekeeper Information window.

  3. Type characters that represent the expense for nickname 1 in the 1 box, and if appropriate, type nickname 2 in the 2 box.

    Each nickname must be unique. Nickname 1 can be up to 30 characters, and nickname 2, up to 15 characters.

    The first nickname must be unique and cannot be assigned to any other expense. The second nickname is optional.

  4. In the Set Up This Record to Match Fields From list, click Default to select the Timeslips default template. Then click the Apply Defaults button.

    The detailed version of the Expense Information window appears, still displaying the nicknames you supplied as well as a classification of Open. The rest of the information you supply in this window is optional.


  5. (Optional) In the Name box, type a full name for the expense.

  6. (Optional) In the Category drop-down list, select a category if you use this feature.

  7. (Optional) In the Prices Levels section, establish up to 20 prices for the expense.

  8. (Optional) In the Slip-Making Defaults section, establish the default information that will appear on each slip when you select this expense:

    • Price Level: Establish a default price level (from the prices you set in the Prices Levels section) for Timeslips to use when you create slips using this expense.

    • Bill Status: Establish a default billing status for the expense; in most cases, you should set the Bill Status field to Billable.

    • Quantity: Establish a default quantity for Timeslips to display when you create slips using this expense.

    • Hold: Establish a default Hold status for the slip. Typically, you’ll want slips you create available for billing (and not on hold), so the default Hold status should be Off.

    • Description: Establish part or all of the description you want to appear on slips using this expense. Providing some or all of a description can save time when creating slips.

  9. On the vertical toolbar, click the Save (disc) button.

You can point at the tools on the toolbar to see tips describing their functions.