What is an Expense?
An Expense, whether a Fee or an Advance, is a sum that the Organization spends to produce or promote Artists & Repertoire, which will be recouped, in whole or in part, against the Royalties owed to your Rights-Holders. To learn more, follow the links below.
In accounting, the Expenses are recorded at the debit of the Organization when the money flows out of its bank account. If you are uncomfortable with accounting basics, please check this page to learn more: https://bench.co/blog/bookkeeping/debits-credits/
The Expenses List displays several columns by default, including:
|Name||The Name of the Expense|
|Status||The Status of the Expense|
|Type||The Type of the Expense|
|Rights-Holders||The Rights-Holders associated with the Expense|
|Money Out Contract||The Money Out Contract associated with the Expense|
|Amount||The Amount of the Expense|
|Recoupable Amount||The Recoupable Amount of the Expense|
|Creation Date||The Creation Date of the Expense.|
You can add or remove additional columns using the optional Custom Columns feature.
Expenses List Statuses
The followings are the different statuses and meanings you may encounter on the Expenses list:
|Draft||The Expense was added but not processed yet.|
|Processing||The Expense is being processed.|
|Processed||The Expense has been fully processed.|
Updated 11 days ago