Expenses

Track and Manage Business Expenses

Summary: Record and categorize business expenses in growlio to maintain accurate financial records, track project costs, and prepare for tax reporting.

Overview

Tracking expenses is crucial for understanding your true project profitability, maintaining accurate financial records, and preparing for tax season. growlio makes it easy to record expenses as they occur, attach receipts, and categorize spending for better financial visibility.

Whether you're tracking project-specific costs, general business expenses, or reimbursable team expenses, growlio provides the tools you need to stay organized and compliant.

Prerequisites

• Active growlio account with access to financial tracking
• Basic understanding of your expense categories
• Receipts or documentation for expenses you want to track

How to Track Expenses

Step 1: Navigate to Expenses

Click on "Expenses" under the Finance section in your main navigation. This opens the expenses overview page where you can view all recorded expenses.

Step 2: Click Add New Expense

In the top-right corner, click the blue "Add New" button to open the expense entry modal.

Step 3: Enter Expense Details

Fill in the expense number (auto-generated) and add a vendor name - the company or person you paid. This helps identify where money is being spent.

Step 4: Enter the Expense Amount

Type in the expense amount in your organization's currency. Be accurate to the cent to ensure proper accounting and reconciliation.

Tip: Enter the exact amount from your receipt or invoice to make reconciliation with bank statements easier.

Step 5: Set the Expense Date

Use the date picker to select when the expense was incurred. This date is used for financial reporting and accounting periods, so accuracy is important.

Step 6: Select an Expense Category

Choose the appropriate category for this expense from the dropdown menu. Common categories include:

• Office Supplies
• Software & Subscriptions
• Travel & Accommodation
• Meals & Entertainment
• Professional Services
• Marketing & Advertising
• Rent & Utilities

Step 7: Link to Project (Optional)

If this expense is related to a specific project, select it from the "Project" dropdown. Project-linked expenses count toward project budget tracking and profitability calculations.

Step 8: Link to Client (Optional)

If the expense should be billed back to a client, select the client from the dropdown. This makes it easy to create reimbursable expense invoices later.

Step 9: Select Payment Method

Choose how you paid for this expense (Credit Card, Bank Transfer, Cash, Check, etc.). This helps with expense reconciliation and financial reporting.

Step 10: Add Description and Notes

Enter a detailed description of what the expense was for. Good descriptions include the business purpose and any relevant context for tax documentation.

Tip: Include enough detail that you'll understand the expense months later when preparing tax returns or client invoices.

Step 11: Upload Receipt (Optional but Recommended)

Click "Upload Receipt" to attach a photo or PDF of your receipt. Digital receipt storage protects you during audits and makes expense verification easier.

Step 12: Set Expense Status

Choose the appropriate status:

• Draft: Expense is being entered but not finalized
• Pending: Expense needs approval
• Approved: Expense has been approved for payment or reimbursement
• Paid: Expense has been paid
• Rejected: Expense was not approved

Step 13: Save the Expense

Click "Save Expense" to record the entry. The expense will appear in your expenses list and will be included in relevant financial reports.

Tips & Best Practices

• Record expenses as soon as they occur to avoid forgetting details or losing receipts
• Always upload receipts for expenses over $25 for tax compliance
• Use consistent categories across your organization for better reporting
• Include tax information in the description if the expense includes sales tax or VAT
• Link expenses to projects whenever possible for accurate profitability tracking
• Review and approve pending expenses regularly to maintain current financial data
• Set up recurring expenses for subscriptions and regular payments
• Export expense data monthly for accounting and bookkeeping purposes
• Use clear, descriptive vendor names that will be recognizable months later

Troubleshooting

Issue: I can't find the right category for my expense.

Solution: Use the "Other" category temporarily and contact your organization administrator about adding new expense categories. Administrators can customize categories in the organization settings to match your business needs.

Issue: My receipt upload failed or the file is too large.

Solution: growlio accepts images (JPG, PNG) and PDFs up to 10MB. If your file is larger, compress the image or PDF before uploading. Ensure your file is not corrupted and try uploading again.

Issue: I entered an expense with the wrong amount and already saved it.

Solution: You can edit any expense that hasn't been marked as "Paid." Click on the expense from your expenses list, update the amount, and save your changes. For paid expenses, you may need to create an adjustment entry.

Issue: Expenses I link to projects aren't showing up in project budget reports.

Solution: Verify that the expense status is set to "Approved" or "Paid." Draft and Pending expenses may not be included in budget calculations. Also check that you've selected the correct project in the expense entry.

Issue: I accidentally deleted an expense I needed to keep.

Solution: Deleted expenses cannot be recovered from the interface. Contact your organization administrator or check if you have a backup. Going forward, use the "Rejected" status instead of deleting expenses you want to keep for records.

Related Articles

• Manage Services and Pricing
• Generate Revenue Reports
• Set Up Expense Categories
• View Financial Dashboard
• Export Expense Data
• Create Expense Reimbursement Invoices