Each expense you receive can be assigned to a category and sub category of your choosing. You can have as many categories and sub categories as you want. Assigning expenses to categories and sub categories keeps all expenses of a similar type together, such as wages, electricity, supplier invoices, bank fees etc. You can then generate reports for each quarter of the year or for the end of financial year. It will then calculate totals for each sub category and each category plus if you entered quantities for any expense it will total those as well. This is ideal if for example you wish to total your diesel consumption for tax.
Another bit of information is when you enter an expense, if you select from which bank account it was paid, when you generate your reports it will total the amounts for each bank account to help with your reconciliation.
You can also assign the expense to an account (customer) if you wish. That way you can then generate a report for all expenses assigned to that account / customer. Makes it easier to total all expenses (irrespective of what category or sub category you have assigned them to), if they are all associated to a specific account / customer.
You can also assign an expense code or expense ID to each entry. That could be beneficial if you have internal codes, or if you wish to use any specific government / tax codes.
All these assignments are totally optional, but will help you group / total and report using those criteria if you wish.
In Summary this is a small but functional program to help you keep track of what should normally be an easy task, but often gets overlooked and then becomes a larger problem later on, so get in the habit of using a program like this each time you receive a bill and not only will you never forget a due date again, but you'll have great reports for your accountant at any time.
This program is not designed to replace a full accounting package. It's designed to allow you to quickly, easily and efficiently track, record and report on expenses.