What will you achieve with this guide?
This getting started guide is divided into three stages that contain all the information you need to start tracking your expenses and profits in Holded:
You will learn what to set up to record and track your expenses
You will create and delete test expenses that you have uploaded to Holded
Finally, you will import your expenses and incoming invoices
1. Configuring what is necessary
1. Customize your expenses accounts
When you register a purchase invoice in Holded, you need to assign an expense account so that it is reflected in your accounting. From the platform, you can customize your accounts to differentiate your expenses by type.
Access Analytics > Goals > + > New expense account:
- In Type use the drop-down menu to select any of the accounts included in Group 6 (Purchases and Expenses)
- Type the name by which you want to identify the expense account
- In the Number field, add the book account under which you want the expense account to be registered
- Assign a color to differentiate the expense account in the Reports section
- Hit Create
Check out this article to learn more about expenses accounts.
2. Generate your Inbox email
What is Inbox?
Inbox is a mailbox to which you and your team can forward all the invoices you receive. This is extremely useful for centralizing your invoices and organizing them in one place. This way, when you or your consultant need to account for them, you can easily access such documents.
So, setting up your Inbox email is an essential step for you and everyone else in your company to be able to send your expense documents to Inbox, and organize them from there.
Go to Expenses > Inbox
When you access Inbox for the first time, you will see that a Holded email has already been created for your account based on your company name, which saves you a lot of time.
Remember that if there are multiple users on your company's Holded account, they will all have access to the same Inbox email that has been generated.
Do you want to customize your Inbox address? Check out this article for more information on how to modify it.
3. Create your employees (optional)
This step is only necessary in the case of having employees.
Payrolls are an important part of your expenses. For this reason, if you have employees, you will need to register the latter in Holded in order to create, assign and account for their payrolls.
From the navigation bar, go to Team > Employees > New employee
Fill in the fields with your first name, last name, and email information, and click Create.
From your employee list, select the employee and click Edit in the preview. From the new window, fill in all the necessary information in the Preferences, Personal data, and Accounting section.
Learn more here about how to create employees.
2. Learning by doing
After completing your configuration, you can test how your expenses will be managed on Holded.
Create a test expense manually
Create and record expense documents (purchase invoice, purchase receipt, purchase refund) using the Expense creation panel in Holded.
From the navigation bar, go to Expenses > New invoice
Are you a fan of keyboard shortcuts? Use cmd+k (on Mac) or ctrl+k (on Windows) and select Purchases to access this section.
Fields to create a purchase invoice
- Select the contact
- Set a due date
- List the items, quantity, price, and taxes
- Add a message if you wish
- Attach the purchase PDF
- Choose an expense account
You can modify your purchase invoice and save it as a draft. When it is completely ready, simply click on Approve.
Invoices saved as drafts do not affect accounting and are not reflected in reports, while approved invoices do. In any case, both can be edited and deleted.
You can view all your expenses on the Expenses page.
When you are creating a purchase, you can click on the Options button at the top right of your screen to customize the fields that will be reflected in the document.
Check out this article to learn more about how to register expenses or purchases.
Upload a test expense through Smart Scan
You can also upload your expense documents using the Smart Scan option.
This scanning option is especially useful to avoid manually entering each receipt, invoice, or purchase order you work with into Holded.
You need to download the Holded app on your cell phone to be able to take photos of your purchase documents and upload them to the platform so that they can be posted. To download the app, go to the Play Store (Android) or App Store (iOS).
- Log in to the Holded mobile app
- Take a photo of the receipt and it will be uploaded directly to Inbox
- From Inbox, select the file to convert it to a Holded document
- In the detail view, click Smart Scan
Learn more here about all you can do with Inbox
Delete the test expense
Now that you have created your test expense, you can delete it so that it does not affect your accounting.
Neither the contacts nor the products or services you created when generating the purchase invoice will be deleted.
Go to Expenses > Expenses, select one or multiple purchase documents, and hit Delete.
Check out this article to learn more about how to delete a purchase.
Account for a test payroll
If you have employees, you will need to learn how to create payrolls (or payslips) so that they are recorded in Holded. This will help you get a complete overview of this part of your business expenses.
From the navigation bar, go to Expenses > Payrolls > New payroll.
Fields to create a payroll
- Enter the name of the employee
- Enter the payroll posting date
- List the concepts: Salary, Total S.S., Company S.S. Expense, and IRPF
- Add tags and a description, if you wish to carry out a more analytical accounting
- Attach the payroll in a PDF format
- Hit Create
You can use the Mark as paid box to post the payment directly from the payroll.
The calculation of the amount to be paid will be made automatically taking into account: (Salary + Company S.S. Expense) - (Total S.S. + IRPF).
You will be able to consult all the payrolls created from the list in Payrolls.
Check out this article to learn more about how to create payrolls in Holded.
Delete the test payroll or payslip
Eliminate now the test payslip to avoid any discrepancy in your accounting.
Go to Expenses > Payrolls, select one or multiple payslips, and click on Delete from the bottom bar.
Check out this article to learn more about how to modify and delete payslips.
3. Importing your expenses and invoices received
Learn how to import your expenses and incoming invoices to Holded so that you can monitor them much more efficiently.
Import your expenses
Importing your expenses will allow you to better control your accounting, and analyze the flow of expenses and how they impact your business profits. All from a single place.
- Access the expense invoice importer from Expenses > Expenses
- Click on the three-point menu
- Select Import
- Download the import template
- Fill in the template with the appropriate data
- Once saved, drag the file or click on Upload file
- Check that all the information has been imported correctly from Expenses
Check out this article to learn more about how to import your purchases and expenses.
You made it!
You have completed this getting started guide. You can now record all your expenses in Holded to have better control of your accounting and a more accurate view of your profits.