What is the “Expense” Feature?
The “Expense” feature in BrandDrive allows you to log business spending—such as rent, utilities, salaries, inventory purchases, or miscellaneous costs—into your system. This helps you track where your money goes, categorize your expenses, and keep your financial records accurate and audit-ready.
What Can You Achieve with This Feature?
Monitor Business Spending: Understand your cost drivers and reduce unnecessary expenses.
Categorize Expenses: Group expenses under meaningful categories for easier reporting.
Stay Audit-Ready: Keep detailed records for tax season or compliance reviews.
Improve Profitability Analysis: Understand your net income by comparing revenue to expenses.
Step-by-Step: How to Create and Record an Expense on BrandDrive
Step 1: Log in to Your BrandDrive Dashboard
Log into your business dashboard, so you can get access to where you can manage your financial records.
Step 2: Go to the “Expenses” Menu
On your 'Bookkeeping' tab, navigate to the 'Expense' menu, there you'll have access to a module where you can manage and track all your business
Step 3: Go to the “Expenses” Menu
On the Expense menu, you can see all of your expenses, and also create a new expense. To create a new expense, click on the 'Add new expense' button.
Step 4: Fill in Expense Details
Here you can start providing details of your expense like vendor, the business branch, expense category, etc.
Under the 'Expense category', you can add more granular details like the category, the description, and the amount.
Step 5: Save the Expense
When you're done editing the expense, you can save the expense, and you have two options to do that: you vsn either 'save and close' or 'save and record payment'
And voila! you have your expense created successfully.
Recording your expenses in BrandDrive ensures that every naira, dollar, or cedi your business spends is accounted for. It supports smarter budgeting, clearer profit analysis, and simplified end-of-month reviews.
Accurately tracking your expenses is essential to understanding your business’s true financial position. With BrandDrive’s expense recording feature, you can stay on top of your costs, avoid surprises, and make more informed decisions about budgeting, growth, and profitability.