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Using pipeline templates: Expense

Purpose: this pipeline is intended to help you track expenses related to clients and client work. There are a myriad of ways to use this pipeline: if you’re a contractor doing work for a client, you can use this pipeline to keep track of the materials you need to expense. If you’re a property manager or you run housing rental and you regularly need to buy necessities, you can keep track of which owners owe you what in this pipeline.

Expense Template

How It Works:

  1. Create the pipeline by going to your Customize your pipelines page. You can only reach this page if you are the admin or owner on an account. On that page, click “Create a new pipeline,” and start with one of our existing pipeline templates.
  2. You’ll want to attach this pipeline to the contact to whom you submitted the expense. You can use the summary custom field to keep a list of the items you bought and how much they were worth.
  3. Once you're reimbursed, close out the pipeline attachment! You can pull reports based on your reimbursements for the month, or see how many of your expenses were considered unqualified.

Potential customizations:

  • Expense categories: if you have certain categories of expenses (for example: necessities, materials, travel costs, etc) you can create a dropdown list or a checkbox list for a “Category” custom field. You can track the type of expense here.
  • Overdue expenses: if you have a deadline by which you have to be reimbursed, you can add a custom date field for “Due Date” and an active status for “Overdue.” You’ll be able to see how much money you’re owed and keep tabs on these pipelines for more frequent follow ups.
  • Charitable expenses: if you're using the CRM to track your volunteering efforts or personal donations, you can use the Expense pipeline to record the amount spent, who you spent it on, and where the money went.

With pipelines, there are tons of different customizations that you can create. We listed a few suggestions above, but feel free to try anything out!

If you want to customize your pipelines but aren’t sure how to start, contact us and we’d be happy to help! If you already customized your pipelines but aren’t sure if you did it correctly, shoot us an email and we can let you know if we see any red flags. Finally, if you’re totally brand new to LACRM and aren’t sure how pipelines work, let us know. We’d be happy to walk you through all of the features of the CRM, and help you customize your account!

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Keywords:
Expense tracking, pipeline template