How to add an Expense

cieTrade.net allows users to add multiple expenses on a worksheet to accurately capture all of the costs related to the trade and raise any payables that are needed. To begin adding expenses, open the worksheet you need to record the expense(s) on. From the worksheet overview:

1. Click Edit Worksheet.
2. Under the Expenses section, click +Add Expense.
3. Select the Vendor. If the vendor is a freight carrier, make sure 'Is Freight Carrier' is checked.
4. Enter the expense details (Price, Per/, and the GL account) if applicable.
5. Enter the chargeback details (Price, Per/, and the GL account) if applicable.
6. Enter a Description. 
7. Once finished, click Save. 

NOTE: There are two lines labeled 'Expense' and 'Chargeback'. The expense line is intended for items that you are being charged, which in turn will create a payable. The chargeback line is for items that you are charging your customer, which will increase your receivables. Users have the option of utilizing one line or both.

Common Questions

• How to record just an expense?
  • Only the 'Expense' line will be used and the price will be positive.
• How to record an expense that you're passing along to your customer?
  • The 'Expense' and 'Chargeback' line will be used and the price for both will be positive.
• How to record an expense that will reduce the receivables and show on your invoice?
  • Enter the amount into the 'Chargeback' line as a negative.
• What does an expense with the vendor of (OTHER) mean?
  • The counterparty (OTHER) refers to yourself. In the case you need to record a chargeback without creating a payable, or your company is the one covering the expense, you can select (OTHER) as the vendor.
• How to issue a rebate?
  • The Price entered into the 'Expense' line will be negative. When posting the expense from the AP Ledger, you will check off Post to A/R.

Other

cieTrade.net will automatically total the expenses against the profit of your sale to produce a Gross Profit Snapshot, which can be found on the front of the worksheet:

If you have additional questions, please contact the Support Team via email to  support@cietrade.net.