Overview of Tyms expenses management

Tyms expenses management empowers businesses to effortlessly track and manage their expense streams across diverse financial records, including expenses, bills, prepaid expenses, and recurring expenses. This feature is available on the Expenses module on Tyms.

https://www.youtube.com/watch?v=MTlGo25gA9E

To access the Expenses module, follow these steps:

1. Log in to your Tyms account.

2. Navigate to the "Expenses" module.

3. Select the desired expense type you want to manage.

The following expense types are available on the Expenses module:

1. Expense: A record of a fully paid expense.

2. Bill: A document requesting payment for goods or services from a vendor, which can contain partial or outstanding payments.

3. Prepaid Expense: Payment made in advance for expense services or goods yet to be incurred.

4. Recurring Expense: Automatic generation of expense records at regular intervals over a specified period of time for recurring payments.

Functions

The Expenses Management feature allows you to:

1. Create, manage, and track expenses.

2. Create, and manage bills.

3. Record and allocate prepaid expenses.

4. Set up and manage recurring expenses.

FAQs

1. What's the difference between an expense and a bill on Tyms?

An expense is captured as a fully paid record, while a bill can contain partial or outstanding payments.

2. How do I track prepaid expenses?

Prepaid expenses are recorded and allocated in the Expenses section, preview on the Expenses page to see the prepayment schedule.