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.

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