The expense report is essential for any store owner since it allows him to evaluate expenses related to his business over a given period. Thus, depending on the turnover achieved over the period, he can easily determine whether he realizes profits or not. So, to learn how to read the expense report, we’ll first show you where to find it. And then, explain all the elements of this report.
Where would you find the expenses report?
In order to find the expenses report, you need to access the “Reports” menu. And then, click on the “Expenses report” sub menu.
The Expenses report page contains two required fields. Once completed, the results are displayed on a table.
- The “Start date” field indicates the beginning period of the report.
- The “End date” field indicates the end period of the report.
- The “Table” displays the results. Here, you’ll find the amount and some informations for the involved period.
In addition, two buttons are available. One of them allows you to display the results (Load button). Another one helps you to print the report (Print button).
Expenses report elements explained
In order to explain the expenses report elements, we’ll simulate expenses during a random period (Learn how to create an expense). Thus, the following table presents the expenses entries over a period from 01 February to 30 March. Moreover, note that some of these expenses weren’t made during the period. So, we advise you to save the expense invoices as they are done. Indeed, this lets you to have a precise follow-up.
The most important element is the total amount of expenditure for the period: $ 11480. It should also be noted that, for the first entry of the table, $ 120 corresponds to the amount of the water bill in February.
So you can print the report if you want to archive it. Click on the “Print” button to perform your action. Depending on your browser, a dialog box will be displayed. Make all the changes that will suit you, then start printing.
The expense report helps any store owner to calculate their expenses and therefore to estimate their gross profit margin. So for that you have to define the period of analysis of the report. Then you can display the result as a table. If you encounter a problem during the process, please notify us at [email protected] or comment on the tutorial.