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How to Record My Business Expenses

Introduction

CosmoLex has built-in, complete legal-specific accounting. You can record all of your business expenses in the system, making it easy to reconcile at the end of the month. 

This article does not refer to matter-related expenses. Learn more about matter-related expenses.

Tracking Business Bills

You may want to keep track of invoices or bills, to pay when ready. This can be done under Accounts Payable. Learn more about that here. 

Tracking Business Transactions

You can keep track of office supplies, travel expenses, rent, and other business expenses as you go by recording those transactions under the appropriate bank account. Learn how to enter operating bank transactions.

A note about soft cost expenses

Maybe you want to enter mileage, or office supplies. These are no different, and can be entered as described above, under your operating bank.

For example, you bought packs of paper for copies – enter a transaction in your operating bank for the total amount spent (i.e. $100 at Staples)

However, if you want to attribute a part of that expense to particular matters, you can record matter soft cost expenses (i.e. $0.25 a copy for Matter X)

Learn More

Add and Manage Matter Expenses

Add and Manage Operating Bank Transactions

Managing Accounts Payable

Updated on August 24, 2018

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