Setting Up Expense Accounts

YouTube: HOW TO SETUP A NEW ACCOUNT AND MODIFY AN OLD ACCOUNT IN LOGIC ERP?

Methods to Setting Up Expense Accounts in Logic ERP:

Creating a New Expense Account:

• Navigate to the Main Menu and then Expand "Setup".

• Select "Setup Accounts" and then Click on "Setup New Account".

Enter Basic Details

• Account Name: Enter the name of the account (e.g., Freight).

• Account Type: Select Expense.

• Expense Type:

  • Direct Expense: Costs directly related to production or procurement (e.g., raw materials, wages, freight).

  • Factory Expense: Costs incurred for factory operations (e.g., rent, electricity, machinery maintenance).

  • Trading Expense: Expenses related to buying and selling (e.g., brokerage, packaging, transportation).

  • P&L (Operational) Expense: Routine business costs impacting profitability (e.g., salaries, rent, marketing).

  • P&L (Non-Operational) Expense: Indirect costs not directly linked to core operations (e.g., interest, depreciation).

• Set it as Direct Expense and Save the Changes.