Finance: Invoicing, Expenses & the Ledger

Finance is where you track the money moving through your business — what customers owe you, what you owe others, and everything in between.

What Finance does here

Finance is one connected system for money coming in and money going out. Invoicing handles the money coming in. Expenses and vendor bills handle the money going out. Underneath both sits the general ledger — a single record that everything else is built from.

Invoicing customers

Creating an invoice, sending it to a customer, and tracking whether it's been paid or is still outstanding is the core of invoicing. An invoice can show your business's registered tax details, so what you send out is compliant from the start.

For customers you bill regularly, invoices can be set up as recurring. Once set up, they generate automatically on a schedule — for example, monthly — and can even be emailed to the customer automatically, without you having to create and send each one by hand.

Expenses & budgets

Expenses are recorded by category, so you can see where money is actually going. Before an expense is finalized, it can go through an approval step — someone reviews it before it's locked in.

You can also set budgets per category, giving you a target to track actual spend against as the numbers come in.

Banking

Your bank accounts and their transactions can be tracked directly inside Finance, so your banking activity sits alongside your invoices and expenses instead of living somewhere separate.

The general ledger

Underneath invoicing, expenses, and banking is the general ledger — the record everything else feeds into. From it, Finance generates:

• A trial balance — a check that everything in your books is in balance
• A profit & loss statement — what you earned and spent over a period, and what's left over
• A balance sheet — what your business owns and owes at a point in time
• A cash flow view — how cash has actually moved in and out

All of these are generated from what's already been entered — you don't have to build them separately.

Accounts payable

Just as invoices track what customers owe you, purchase bills track what you owe your vendors. This is accounts payable, kept separate from customer invoicing (accounts receivable) — so money coming in and money going out are never mixed together.

Multi-currency

Not every transaction has to be in your workspace's default operating currency. You can record a transaction in a different currency, and Finance converts it using live exchange rates.

Where to go deeper

• VAT & tax reporting → — a closer look at tax reporting
• The Purchase module → — where vendor purchase orders originate before they become bills
• Recurring invoices in depth → — setting up a recurring billing schedule