Expenses are captured to be re-imbursed and or billed to clients. Expenses can be just in a single currency; we also support Muli Currency and Dual Currency expense tracking. With expenses, you might want to capture included Tax - Use Tax or VAT.
You can capture expenses via
Time Expense Table
Create from Statement
Time Expense Item Import
Time Expense Single Item
Expense items can also be based on fixed amounts, e.g. for mileage or per diem.
Here an example of a typical user workflow.
Key part of categorizing expenses is the Financial Account. Here you determine
Name and Code - for referencing
Account Type (Expense) and enabling the account to T&E Report use
Tax (usually included)
Fixed amounts for e.g. mileage or per diem
Note that you can have multiple (e.g. mileage) rates for different users.
We support Multi Currency (e.g. a US company incurring expenses also in EUR and reonbursing them in USD) - as well as Dual Currency (e.g. a Canadian company reimbursing EUR expenses of a US employee in USD). For details see Multi-Currency.
You can capture Tax information and let the system calculate the tax amount and/or optionally overwrite the tax amount.
Differentiate expenses incurred via Cash or (Company) Credit Card - and if to re-imburse or just to capture/reconcile them.
Entering Expenses for Others
You can enter expenses for others by selecting a different Resource. The user you enter time for must have granted access. See Time Expense Report for setup details.