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Add an Expense category

This article will show you how to add, and edit an expense category in the trust.

Once you've logged in to Trustworks, select the trust you wish to Add an expense category to, click on Assets and Liabilities.

Left click on "I would like to ...", Under Account management select "Add an expense category"

Add an expense category

Expense accounts represent different categories of expenses paid by the trust. These can be related to tradeable activity, bank fees or simply a way of tracking trust outgoings.

Name of expense category

  • The name given here will appear in the Expense Category in Pay Money. An example of name would be "Hastings District Council"

Guiding description of the type of expense

  • Adding the guiding description helps to clarify if there are multiple payments to the same organisation. An example would be annual rates. 

Any additional notes 

Once you have added the expense, it is now available in "Pay Money", under Trading Transactions. 

Edit an expense category

To edit a particular expense category, click Accounts,

  • "filter by category" select Expenses.

Select the expense category you want to edit, click in the dialogue box to the right of the particular expense. 

NOTE: You may only edit descriptive details of an account. Transactions are treated separately.

 

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