Recurring expenses in Joy Pilot make managing frequent costs, such as subscriptions and utilities, even simpler. Whether it's weekly, monthly or at any interval you require, our intuitive feature automates the recording of regular expenses, saving you time and effort. Once set up, these expenses automatically add themselves to your expense list, ensuring your records remain accurate without the need for manual entry each time.
How to set up a recurring expense:
Step 1. Accessing Recurring Expenses
Navigate to the ‘Expenses’ section from the main menu.
Select ‘[Recurring expenses]’ to view and manage scheduled expenses.
This will take you to the Recurring Expenses page, where you can add a new recurring expense or review and update existing ones.
Step 2. Entering Expense Details
Fill in the specific details for the expense:
Enter the amount.
Select the currency.
Tick "Billable" if this expense will be billed to a customer. Leave it blank if not applicable.
Specify tax (e.g., VAT, GST, or sales tax) if applicable.
Select the relevant expense category.
Attach receipts or supporting documentation if required (optional - See the green paperclip button).
Step 3. Setting the Recurrence Schedule
Choose the frequency (e.g., weekly, monthly, annually) for the expense.
Weekly: Define the number of weeks between occurrences, then select the days of the week when the expense should repeat.
Monthly: Define the number of months between occurrences, then select either a specific date (e.g. the 15th of each month), or a day/week occurrence in the month (e.g. the first Monday or third Wednesday of every month).
Set the duration of the recurring expense:
You can choose:
Never (it will repeat indefinitely, until manually stopped).
End after a set number of occurrences.
End by a specific date.
Step 5. Saving and Managing Recurring Expenses
Click ‘Save Expense’ to confirm and activate the recurring expense.
The new entry will now appear in the Recurring Expenses list.
To edit or delete a recurring expense, select it from the list and choose the appropriate action.
Reviewing and Tracking Expenses
Joy Pilot automatically records each occurrence of the expense on the scheduled dates, ensuring your records stay up to date. You can view, modify, or pause recurring expenses anytime under ‘Recurring Expenses’ in the Expenses section.
Summary
Utilising recurring expenses can streamline your accounting process and help ensure your expenses list is always accurate and up-to-date. You will no longer need to input expenses manually each time they recur, reducing effort and potential errors.
Feeling confident? Why not explore further: