Hello Fabpos users! In this video, we’ll explore the Expense and Other Income Tracking feature, a powerful tool that allows you to efficiently manage your financial transactions on the go. Fabpos simplifies the process of recording expenses, sources of income, and helps you track your net profit effortlessly. Let’s dive into the details!
Step 1: Overview of Expense and Income Tracking
As you access the Expense and Other Income Tracking page, you’ll find two tabs at the top – Expenses and Other Income. These tabs serve as convenient gateways to record and manage your financial transactions seamlessly.
Step 2: Recording Expenses
Let’s begin with recording expenses. To add a new expense, simply click on the plus icon located in the bottom right-hand corner. This action opens a new page where you can enter all relevant information related to the expense.
Step 3: Expense Entry Page
On the Expense Entry page, provide details such as the expense amount, date, and a brief description. We highly recommend creating relevant categories to organize and classify your expenses effectively. Please note that there is no need to include any invoice for the items you’ve purchased for stock inventory updates. The cost of goods will automatically be added when updating the stock inventory. Once you’ve entered the information, tap on the ‘Save’ button to complete the recording process.
Step 4: Recording Other Income
Moving on to recording other sources of income, tap on the ‘Other Income’ tab. Here, you can add records for various sources of income, including loans, investments, or additional sales. To add a new record, click on the plus icon and input the relevant data.
The Expense and Other Income Tracking feature in Fabpos not only helps you keep a real-time record of your financial transactions but also contributes to the overall decluttering of your workspace by eliminating the need for physical receipts for stock inventory updates. With the ability to add, track, and categorize expenses and income, you’ll have a clear overview of your financial health. If you have any questions or need assistance, Fabpos’s support team is ready to help. Happy tracking and managing with Fabpos!
