What Expense types are available on Modeliks?

Expenses refer to the money spent on goods or services to support a company's operations and goals.

📝 In Modeliks, expenses can be categorized into four main categories based on their function:

Sales and marketing expenses 💰

These expenses are associated with the marketing and promotion of products or services, such as advertising, promotions, trade shows, and public relations.

Research and development expenses 🔍

These expenses are associated with the creation and improvement of products or services, such as salaries of research and development employees, costs of conducting research studies, and materials used for product development.

General and administrative expenses 💼

These expenses are associated with the general operations of the business, such as rent, utilities, insurance, legal fees, and salaries of administrative staff.

Direct expenses ⚙️

These expenses are directly related to producing the products or services, such as raw materials, direct labor, and shipping costs.

General Clasification

The most general expense classification is given as either fixed or variable, depending on whether they remain the same or change over time.

Fixed expenses

These are regular expenses that an individual or company incurs every month or year, such as rent, insurance premiums, and loan payments.

These expenses tend to be stable and predictable, making it easier to plan and manage finances 🔦

Variable expenses

These are expenses that can fluctuate from month to month or year to year, such as groceries, entertainment, and travel expenses.

These expenses tend to be less predictable, making it more challenging to plan and manage finances 🔦