Through the expense categories features, Payhawk provides a powerful tool for automating the accounting processes at your company and for maintaining faster and easier financial control.
Overview of Payhawk expense categories
In Payhawk, expense categories are user-friendly names you can assign to expenses. Each expense category is linked to an optional account code from your chart of accounts or other systems of record.
The account codes will be visible only in your monthly report.
When uploading expenses to Payhawk, employees set the category of the expense. If you link each expense category to your bookkeeping account number, your controlling team will view this data in the exported Excel file and they can start analyzing and slicing the numbers immediately.
Creating expense categories
To create an expense category in Payhawk:
Log in to the Payhawk web portal.
Go to Settings > Expense fields > Built-in fields > Categories.
Click on the + Add category button.
Enter the name of the new category and its account code.
To be able to add a default tax rate, you need to first create a tax rate expense field with the desired value. As a result, it will be visible in the TAX RATE drop-down options and you'll be able to select and apply it to your category.
Click on Save.
Editing and deleting expense categories
To edit or delete an existing expense category in Payhawk:
Go to the Settings > Expense fields > Built-in fields section.
Select Categories by clicking on it.
To edit the category, hover over it and click on the Edit icon. Update the desired information and click on Save.
Alternatively, to delete the category, hover over it and click on the Trash icon. In the dialog that opens, select the checkbox and click on Delete category to confirm your choice.
Creating expense sub-categories
To add a sub-category to an existing expense category in Payhawk:
Go to the Settings > Expense fields > Built-in fields section.
Select Categories by clicking on it.
Hover over the category to which you want to add a sub-category and click on the + (plus) button.
Enter the name for the sub-category, the account code, and the default tax rate if any.
Click on Save.
Editing and deleting expense sub-categories
The update and removal of sub-categories happens in the same way in which you can edit and delete categories.
To edit or delete an existing expense sub-category in Payhawk:
Go to the Settings > Expense fields > Built-in fields section.
Select Categories by clicking on it.
Select the category to which the desired sub-category belongs.
To edit the sub-category, hover over it and click on the Edit icon. Update the desired information and click on Save.
Alternatively, to delete the sub-category, hover over it and click on the Trash icon. In the dialog that opens, select the checkbox and click on Delete category to confirm your choice.