How to Enter Expenses
MonkeyPod makes it easy to enter and track all of your expenses in one place. This article provides a very basic introduction on how to track expenses.
Where do I track expenses in my MonkeyPod?
Choose Finance from the main menu, and at the bottom of the "Income & Expenses" section you'll see a set of menu items related to tracking expenses.
Whether you're writing a check, entering a credit card charge, entering a bill or paying a bill, this is where you'll input most of your expenses.
While each screen is slightly different depending on the expense, almost all of them have the options to attribute an expense to an account, a class, and a tag. In addition, you may specify restricted funds to be used, and even add notes about the transaction.
Tip for bookkeeping power users!
If you're often working with restricted funds or adding notes to expenses, you can change your MonkeyPod organization settings to default to always expanding those fields here. To do so, from the main menu choose Organization Settings > Accounting > Policies & Conventions, and select Line item details. Choose the option to auto expand adding notes and applying restricted funds.
With that setting on, the expense details section will be ready for input on those fields as you enter your expense, without the extra steps needed to expand those sections!
Frequently Asked Questions
How do I track expenses related to a grant or other restricted funds?
First, enter the grant (or for restricted funds, set up the restricted account under Finance > Chart of Accounts, under the Net Assets tab). Then when paying a bill or writing a check, click "Apply restricted funds" in the "Expense Details" section, and select the relevant grant.
What if I want to split an expense?
To split an expense among accounts or grants, click "Add an expense line" and enter the details there. You may add multiple expense lines by repeating that process.
What are Accounts, Classes, and Tags?
Check out this article for lots of great detail about accounts, classes, and tags and how they used to help you track expenses.
Where can I review expenses I've entered? Are there any relevant reports?
From the main menu, choose Finances > Search Transactions to search for specific type of transactions. The Reports menu also includes a number of options under the "Accounting & Finance" heading to help you review your expenses, such as Income & Expense by Month, Income & Expense by Class, and the statement of Functional Expenses.
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