How to Create a New Expense Linked to a Project

How to Create a New Expense Linked to a Project

Introduction

Expenses are the heart of Fara—they show exactly where your money goes and keep every project accountable.

What is a Project-Linked Expense?

  • An expense that is charged to a specific Project Wallet and construction stage (e.g., Foundation, Roofing).

  • Each expense captures what was purchased, who will be paid, and how much it costs.

  • All expenses roll up into your project’s reports for budget vs. actual tracking.

  1. Accountability: Every cedi/naira is tied to a project and stage.

  2. Clarity: Easily explain spend during audits or investor updates.

  3. Reporting: Clean budget vs. actuals, stage burn rate, and variance insights.

  4. Cash Control: Prevents accidental spending from the wrong wallet.

How to Create a New Expense

  1. Choose the Project Wallet

    • From the dashboard, select the project you’re spending from.

  2. Select the Construction Stage

    • Pick the correct stage (e.g., Foundation, Framing, Roofing, Finishing).

  3. Add Expense Details

    • Enter description, date, and reference (e.g., invoice number or delivery note).

    • Add items with quantity, unit cost, and optional tax/fees.

  4. Select a Beneficiary

    • Choose an existing vendor/worker or add a new one (Mobile Money or bank).

  5. Submit

    • Review summary → Submit.

    • Status will appear as Pending until processed.

Notes & Tips

  • Use clear, specific descriptions (e.g., “25mm Iron Rods—3 tons, for Foundation beams”).

  • Upload receipts or delivery notes where available for faster verification.

  • 💡 Why it matters: Linking expenses to stages ensures accountability and easy reporting later.

FAQ

Q: Can I split one expense across two projects?
A: Create separate expenses for each project to keep reporting clean.

Q: What if I chose the wrong stage?
A: If status is Pending, edit and fix it; once Processing, it’s locked.

Q: Can I pay in GHS for a USD project?
A: Yes, if the project wallet allows local-currency expenses. Otherwise convert first, then create the expense.


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