Hi I'm Gareh and I'm Gigi. -Gigi: Gareh let's talk about business expenses. -Gareh: Alright, a business expense can be anything from office supplies like pen and paper to investments in technology like a new computer to other equipment that helps you provide your service. -Gigi: Do you take your clients out for lunch sometimes? Or have some networking meals with people in your industry? Those bills count as expenses too -Gareh: Other expenses include subcontracting part of a project to another professional or hiring an employee. -Gigi: Basically, whenever you buy goods or services that help contribute to your bottom line it's a business expense. -Gareh: Keeping track of how much you're spending is critical. You can't calculate your profit unless you subtract what you're spending from what you're earning. -Gigi: Plus many business expenses are tax deductible and can reduce the amount you're required to pay at tax time. -Gareh: The FreshBooks expense tool makes it super easy for you to keep track of your expenses whether you're in the office or on the go thanks for our mobile app. We'll show you that cool feature in the other videos in this unit. -Gigi: From any page in FreshBooks you can choose expenses from the blue strip at the left of your screen. -Gareh: The big green button at the top right allows you to dive right in and create an expense. We'll show you how to do that in lesson 2: how to enter an expense. -Gigi: Under ‘Recently Updated’ you'll see a list of your most recent expenses. One all the details? Just click on one! -Gareh: Scroll down to see a list of all active expenses sorted by vendor or category, date, client and the amount. You can organize your expenses differently by clicking on the arrow beside each section. -Gigi: And if you're looking for specific expense enter a vendor name, professional service or expense description in the search box -Gareh: To learn about how to enter new expenses, bill your expenses to a client and more check out the other videos in this unit -Gigi: Until next time!
