Learn more here about what is Expenses in Holded and everything it offers
Remember that each invoice you register will automatically create an accounting entry in the platform.
- Go to Expenses from the navigation bar
- Click on New purchase
Create a purchase
1. Fill in the basic data
Each time you register an invoice you can take the opportunity to add a new contact. You must type their name and click on Add.
Fill in the following basic fields:
- Document number: it will be assigned automatically based on the numbering lines you have created. You can edit it if you need to
- Internal number: enable internal purchasing numbering to have an automatic record of your purchasing documents
Check this article for more details on how to activate the internal numbering.
You need to activate the internal purchase numbering in order to have an automatic record of your purchase documents.
- Contact: select a contact you have created or create a new one by typing its name and clicking Add
Adding a contact to the invoice will automatically fill in the due date, numbering line, tax, expense account, discount, tags and currency assigned to that contact.
- Date: it will be automatically populated with the date of the day, as this is when the invoice is issued. You also have the option to edit it
- Due date: select a due date for the invoice. You can select a day from the calendar or check the option of 30, 60 or a specific number of days. You can also assign multiple dates to be reflected in the invoice PDF and cash flow
The due date is the date by which an invoice is due for payment. It is usually set to a fixed date (e.g. March 11, 2021) or a specific number of days (30, 60, 90).
2. Complete the elements of the table
Fill in the following fields in the middle area and the bottom left block of the invoice creation dashboard:
Invoice fields will be automatically populated in the following order of priority: contact preferences, product preferences, and company preferences.
- Concept: type the concept or select the item using the magnifying glass or the @ key.
The items entered are identified with a box icon in the case of products, and with a three-layer icon in the case of services.
Group concepts in an invoice when you want to group several lines under the same concept, or add a description for the concepts shown. Learn how to group concepts here.
- Description: add the explanation about the concept to specify the details of the product or service. If you select a created product it will be filled in automatically
- Quantity: specify the number of units. It will be used to calculate the total, i.e. units x price + tax
- Price: includes the amount without taxes of the product. It will be filled in automatically when selecting the item with the magnifying glass
- Taxes: select a tax from the database (for example; VAT 21%, withholding 19%, import or equivalence surcharge). The default taxes for the contact, product and account will appear in this preference
- Total: it will be calculated automatically when you add the price and units. You can modify it whenever you want. When you do it, the price will change automatically
- Message visible on purchase: section to include a specific message for an invoice to appear in the PDF
- Add custom field: add additional information through a table, for example an order number. It can be configured to appear by default from Configuration > Templates
3. Attach the purchase PDF
When accounting for the purchase in Holded, you can attach the PDF invoice to have it documented.
- Go to the top information block
- Click on the Select or drag a document
4. Fill in the advanced options
- Go to the top information block
- Click on the Options button
- Fill in the options below
These are the options you will need to report in the side panel:
- Discount: fill in the box with the % you want to discount and it will be applied to the invoice total
- Currency: select the currency that will appear on the invoice from the drop-down menu
If you choose a different currency than the one assigned in the company account, the exchange rate will be applied for today. If needed, you can edit the exchange rate manually.
- Document mode: this function is disabled for purchases, as no PDF is generated when posting them
- Invoice: if this option is disabled, the Discount and Due date fields will disappear
- Account per item: check the box to assign an expense account per invoice line
- Tags per item: check the box to be able to assign an expense account per invoice line
- Discount per product: by activating this option a new column will be added in the table where you will be able to apply a discount for each product line
- Display supplied: this option will allow you to add substitutes to your invoice
- Electronic invoice fields: click to fill in the fields of the electronic invoice that you can download in .xml format to upload it to the relevant organization's website
These fields are predefined with what you have entered in Configuration > Preferences. If you think the numbering line or currency of an invoice is not correct, it may be because the contact has different information than what is in the account settings. Click on the contact and click Edit to check.
5. Assign an expense account
- Go to the Categorization section
- Use the first drop-down field to search for or create a new expense account
- Select an account to assign to the invoice in order to segment your purchases
They should always be purchase or expense group accounts (60, 65, 66 or 67).
Remember that once you have created several expense accounts and assigned them to your invoices, you will be able to analyze how much you have spent for each account in the Reports section.
6. Use tags
Holded allows you to add tags to your invoices in order to export customized reports.
- Go to the bottom right information block
- Click on the Tags box
- Type to search or create a new tag
Learn here how to create tags for your filters and analytical accounting.
7. Add supplied or substitutes to the invoice
Substitutes are expenses that a professional pays on behalf of their clients. That is to say, it is a payment that corresponds to the client, but that the professional is in charge of in order to speed up procedures. Therefore, it would not be correct to assign them to an expense account, and they are assigned to supplier or customer accounts.
- Go to the upper information block
- Click on the Options button
- Check the Display supplied checkbox
Once you have activated this option, you can go to the Expense account section and you will see how accounts of group 4: Payables and receivables are activated, which will allow you to manage them.
- From Categorization, now assign accounts of group 40 (Suppliers), 43 (Customers), 47 (Public Treasury)
In case you only want to add one line of the invoice to an expense account, check the Display supplied checkbox from the Options button to be able to differentiate the expense account lines from the substitutes ones.
8. Assign Projects
From the Projects section you can assign projects to your purchase invoice to calculate the profitability of the associated projects.
9. Approve the invoice or save it as a draft
When saving a document, you can select the option to Save as draft or Approve.
Save as draft
- Click the Save as draft button
When you save purchases as a draft:
- They will not be recorded in your accounting (general ledger)
- They will not appear in the reports (invoice received, purchases, profit and loss)
- Will discount stock on your products
- Click on the Approve button
When approving purchases:
- They will be recorded in your accounting (general ledger)
- They will appear in the reports (invoice received, purchases, profit and loss)
- You can edit and delete the purchase even if it is approved