How to add your Expenses in Modeliks?
Adding expenses in Modeliks is a breeze, and we're here to show you how it's done.
π Simply follow these easy steps
Step 1
Click on the "Add Expense" button in your Modeliks account. Enter the name of the expense in the designated field.
π‘If the expense is related to marketing, you can simply call it Marketing expense.
Step 2
Select the expense function. Depending on the nature of the expense, choose either Sales & Marketing, Research & Development, General & Administrative, or Direct expense.
π If the expense is directly related to producing the products or services you sell or provide, choose Direct expense and this expense will automatically be categorized as cost of sales.
π If you choose any of the other three options, the expense will be categorized as an operating expense.
Step 3
Next, choose how you want to calculate the expense. You can select either Dollar value, Percent of total revenue, or Percent of specific revenue.
π If you choose $ value, you will be prompted to enter the amount of money you plan to spend for the expense on the following screen.
π If you choose Percent of total/ specific revenue you will define the value of the expense as a Percent of total/ specific revenue on the next screen.
Step 4
Click "Next" and enter the amount of money you plan to spend on the expense on the input screen, here we will set the price to $50 β
Once all the necessary data is entered, click "Save and close".
π Edit your numbers
Keep in mind that blue-colored numbers are editable right on the spot, black numbers are calculations and the arrow option allows you to paste the value to the end.
Alternatively, you can click on the edit icon that appears when you hover over the expenses' name to make changes. You can add as many expenses as you need by clicking the "Add expense" button.
π Be sure to check out the explanation video for adding revenue streams, which explains all data input options and provides important tips for using Modeliks.
That's itβ£οΈFor a more in-depth explanation of how to add expenses in Modeliks, be sure to check out the helpful video tutorial.
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