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  • Expenditure Type
  • nishitD
  • 2015-08-18 09:54:55
Expenditures represent the cost of work incurred to complete a task or an activity of a project.

An expenditure type represents the type of cost incurred in completing a task or a project. Expenditure type specifies what type of cost (such as labor, overhead, burden, invoice, etc.) can be charged to a project. Expenditure type also helps in categorizing different project costs.


Each expenditure type specifies 5 key elements of a project
1. Expenditure Category.
2. Revenue Category.
3. Unit of Measure.
4. Expenditure Classes.
5. Cost Rates.

You can enable multiple expenditure type classes to an expenditure type.
You can create, view or update any existing Expenditure Type by navigating to Project -> Expenditure Type.

To create a new Expenditure type/or update an existing Expenditure type, enter below information as applicable for the Expenditure type and then save the data.

Expenditure Type Header Id:
A unique system generated number. You can’t modify this number.

Expenditure Type:
Enter a name for the expenditure type. This is a free field of 25 characters.

Expenditure Category:
Select an expenditure category as applicable for the expenditure type.
An expenditure category represents the source of project costs. You can use expenditure categories to group cost for financial tracking & reporting purpose.

Revenue Category:
Select a revenue category as applicable for the expenditure type.
A revenue category represents the source of revenue of a project. You can use revenue categories to group revenue for financial tracking & reporting purpose.

Description:
Enter any comment /remark in the description field.

Effective From & Effective To:
Enter effective from and effective to dates as applicable for the expenditure type.

UOM:
Select a unit of measure for the expenditure type.

Class Control:

Enable all the expenditure type classes that you want to assign to the expenditure type.

Cost Rates:
You can set different cost rates for the same expenditure type in different business orgs.

Cost Rates:
You can set different cost rates for the same expenditure type in different business orgs.
Non-labor expenditures use the rate in all cost transactions.
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