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Traditional Expenses (Legacy System)

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This expense system is being phased out. You can view, edit, and delete existing traditional expenses, but you cannot create new expenses using this method. Please use AI Expenses for all new expense processing.

Traditional Expenses is Fiskl's original expense tracking system. While this system remains available for managing historical records, all new expenses should be processed through AI Expenses for automated data extraction and reconciliation.

What You Can Do​

View existing expenses:

  • Access all expenses created before AI Expenses
  • Review historical expense records
  • Export data for reporting

Edit expenses:

  • Update expense details
  • Modify categories and amounts
  • Change dates and descriptions
  • Add or update attachments

Delete expenses:

  • Remove incorrect or duplicate expenses
  • Clean up historical records

What you cannot do:

  • Create new expenses in this system
  • Use mobile OCR for new receipts
  • Access automated reconciliation features

Migrating to AI Expenses​

We recommend processing all new expenses through AI Expenses:

Benefits of switching:

  • Automatic data extraction from receipts
  • No manual entry required
  • Automatic reconciliation with bank transactions
  • Faster processing time
  • Better accuracy through OCR

For existing traditional expenses:

  • Keep them in this system for historical records
  • No need to migrate unless you want to
  • Reports include both traditional and AI expenses
  • Both systems integrate with your accounting

Accessing Traditional Expenses​

Traditional Expenses appears in the navigation when you have historical expenses:

  1. Expand Expenses menu

    Select the arrow next to Expenses in the left sidebar.

  2. Select Traditional Expenses

    Choose Traditional Expenses to view your legacy expense records.

Understanding Traditional Expense Types​

The traditional system had two types of expenses:

Standalone Expenses​

Expenses recorded independently of accounting transactions:

  • Created via web dashboard or mobile app
  • Don't impact accounting until manually reconciled
  • Can be attached to invoices for billing
  • Require manual data entry

Direct Accounting Expenses​

Expenses recorded directly in ledger accounts:

  • Immediately reflected in accounting
  • Created when categorizing bank transactions
  • Can be assigned to clients for billing
  • No separate reconciliation needed

Components of Traditional Expenses​

Traditional expenses typically include:

Required fields:

  • Amount
  • Category
  • Date

Optional fields:

  • Description
  • Images (receipts)
  • Client (for billable expenses)
  • Vendor
  • Payment method
  • Notes

Managing Traditional Expenses​

Viewing Expense Details​

To view a traditional expense:

  1. Select Traditional Expenses from the sidebar
  2. Choose the expense from the list
  3. View all expense details and attachments

Editing Expenses​

To modify an existing expense:

  1. Select the expense you want to edit
  2. Select Edit
  3. Update any fields as needed
  4. Select Save

Deleting Expenses​

To remove an expense:

  1. Select the expense to delete
  2. Select Delete
  3. Confirm the deletion
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Deleting an expense is permanent and cannot be undone. Ensure you have backups of any important records before deleting.

Billable Expenses in Traditional System​

Traditional expenses can still be marked as billable:

To make an expense billable:

  1. Edit the expense
  2. Assign a client
  3. Save the expense

To add to an invoice:

  1. Create or edit an invoice
  2. Add billable expenses from the client
  3. Expenses appear as line items

Once added to an invoice, the expense cannot be used on other invoices.

Reconciling Traditional Standalone Expenses​

Standalone traditional expenses require manual reconciliation:

  1. Find the bank transaction

    Locate the corresponding transaction in your bank, credit card, or cash account.

  2. Match to expense

    Use the match functionality to link the expense with the transaction.

  3. Confirm match

    Verify details and confirm the reconciliation.

This process ensures the expense appears correctly in your financial reports.

Reports and Traditional Expenses​

Traditional expenses appear in all relevant financial reports:

  • Expense reports by category
  • Vendor spending analysis
  • Client billable expense reports
  • Profit and loss statements
  • Tax reports

Reports automatically include both traditional and AI expenses, providing complete financial visibility.

Best Practices for Legacy Expenses​

Maintain historical records:

  • Keep traditional expenses for audit trails
  • Don't delete unless absolutely necessary
  • Export data before major cleanup

Use AI Expenses going forward:

  • Stop creating traditional expenses
  • Switch all new expense processing to AI Expenses
  • Train team members on new system

Reconcile outstanding expenses:

  • Complete any pending traditional expense reconciliations
  • Match unreconciled expenses with bank transactions
  • Close out the traditional system cleanly

Document business processes:

  • Note why certain traditional expenses exist
  • Maintain records of reconciliation methods used
  • Keep documentation for accounting reviews

Transition Timeline​

Current state:

  • Traditional Expenses are view/edit/delete only
  • No new expense creation in this system
  • AI Expenses handles all new processing

Future plans:

  • Traditional Expenses will remain accessible indefinitely
  • Historical data will not be migrated automatically
  • You can continue managing legacy records as needed