Expense Items

Overview

The Expense Items screen allows you to create and maintain a standard list of expense items for your company. These codes are billable and non-billable expense items charged by your employees (and vendors) against various projects. They can be reimbursable to the employees or not, such as materials, travel, mileage, copies, etc. Additionally, if your business is largely service-based, but you also sell products to your clients, (such as a printing business that sells paper or a hair salon that sells shampoo), you can create expense items in the 'Product' category to track those products. Click to watch this video on expense items in Core.

Attributes of these expense items, such as default cost rates, are also stored and later inherited by the Expense Entries screen. These codes can be combined into groups for the purpose of budgeting, reporting and more. Expenses are referred to as costs in the legal industry.

Field Descriptions

Basic Tasks

Create Expense Items

Batch Update Expense Items

View Reports

Advanced Tasks

Assign Groups to Expense Items

Group Expense Items

Add Custom Fields

Add Documents

Send Expense Items

Merge Expense Items

Show/Hide Columns in Grid

Export Expense Items

Apply Filters

Mark Screen as Favorite

 

Field Descriptions

Field Name Field Description
Expense Items > Detail > General >
Code Sub-Code Expense ID = Code:Sub-Code. Between the code and sub-code fields, Core automatically inserts a colon (:) as a separator. The resulting Expense must be unique. Example: Enter GEN:MKT to refer to general marketing expenses. If you are an architectural firm, both architects and draftsperson produce blueprints. You can create an expense code for each: ARCH:BPRINT and DRAFT:BPRINT, where ARCH and DRAFT are the main codes and BPRINT is the sub-code. Similarly, if you are a computer consultant, you can resell both NT and Novell servers. You can create expense items for each: SERV:NT and SERV:NV, where SERV is the main code and NT and NV are the sub-codes.
Cost Rate Default per unit cost rate of an expense, excluding any markups and taxes. This rate is brought forward when logging expenses except when a fee schedule is assigned to the project. If the cost of an expense varies, this can be left blank. When you log expenses, you can enter the actual cost there.
Markup % Percentage increase or decrease in the cost of an expense to determine the charge amount. If the markup percentage varies for an expense code, leave this field blank and enter it when you log expenses. Do not enter the percentage as a decimal. Example: To increase the cost rate by 10.5%, enter 10.5, not 0.105. You can enter amount or percentage values. Example: If you enter:
Cost= 10
Units= 1
Markup= 10
Then, markup will be taken as 10% and Amount= $11
OR
Cost= 10
Units= 1
Markup= $10
Then, markup will be calculated as 100% of cost value and displayed as Markup = 100 and Amount= $20
Class Transaction entity that allows you to track expenses and view their reports. You need to assign class to expense items before creating invoices and prior to syncing data with your accounting software. Else, your class fields will remain blank there and will not display in reports.
Income Account Used for accounting, this account is used to track income or revenue associated with expenses. Assigning income account to an expense item helps keep track of the account information and is required for data integration with your accounting software. You can overwrite these accounts at the expense entry level.
Expense Account Used for accounting, this account track expenses. Assigning expense account to an expense item helps keep track of the account information and is required for data integration with your accounting software. You can overwrite these accounts at the expense entry level.
Purchase Tax

Tax paid by the company on an expense, which is subtracted from the charge amount to avoid double-taxation for the client. Core uses the purchase tax rate to segregate the actual cost of an expense and its tax amount.

Cost Amount = Net Cost Amount + Purchase Tax Rate

Cost (with Purchase Tax) = Amount without Purchase Tax / (1 + Purchase Tax Rate / 100)

Product

You can tag an expense item as a product that can be sold to the customers.

Tax 1/2/3 Up to three taxes can be assigned per expense code. They are summed and used to calculate the bill amount for the expense entry. Example: If expense GEN:PC has a Tax 1 value of 5% and Tax 2 is 10%, when an expense entry is made for GEN:PC, 15% is added to the expense amount billed.

 

Create Expense Items

You can create standalone expense items in Core or bundle similar expenses into a main expense code by creating sub-codes, say travel and then car mileage, hotel, airfare, etc. Some of the expenses can be reimbursable to the employees. For example, travel, mileage, and materials that are charged by the employees against various projects. You can leave the cost blank because this can be entered at the time you record an expense and is based on the actual charges.

Note: Expense is referred to as Cost in the legal industry.

To create an expense item, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. Click Add and enter the required information in the top row of the grid. Check Field Descriptions above for details.

      • Code and Sub-Code: Between the code and sub-code fields, Core automatically inserts a colon (:) as a separator. The resulting expense must be unique. 

      • Description

      • Billable

      • Reimbursable

      • Cost: Default per unit cost rate of an expense, excluding any markups and taxes. 

      • Markup %: Percentage increase or decrease in the cost of an expense to determine the charge amount. Check Field Descriptions above for details.

    1. Click Done.

Batch Update Expense Items

As long as you have not referenced or used an expense item in Core, you can delete it. Otherwise, you can make it inactive or use the batch change feature to update it.

To update expense items:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. Select the expense items on the grid and click Actions > Delete to delete them.

    2. Otherwise, click Actions > Batch Update to make batch changes to the selected items. Using the  menu, you can select the total number of records without scrolling all the way to the end of the list, total number of records in view or none of the records.

    3. On the Update Expense dialog, select the relevant fields and enter new values for them.

    4. Check the disclaimer at the bottom and click Update.

    5. To edit a single expense item, click Detail on that expense row.

    6. In the detail view, enter more details or make your changes.

    7. Click Save.

View Reports

To view a report:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, click More > View Reports.

    2. Select a report from the Report List dialog. It opens in the viewer.

    3. Preview the report and then choose to export or print it.

Assign Groups to Expense Items

This option allows you to quickly assign an expense to an expense group or view whether the selected expense is a member of any existing group.

To assign an expense to a group:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, select an expense item that you want to group and click Detail on that row.

    2. In the detail view, go to the General tab and click Assign Groups.

    1. On the Assign Groups dialog, select the desired group for the expense. By default, the All group is assigned and set as the default group for all expenses.

    2. Click Update.

Group Expense Items

To group various expense items:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    2. In the list view, select an expense item that you want to group and click Detail on that row.

    3. In the detail view, go to the General tab and click Assign Groups.

    1. On the Assign Groups dialog, click Manage Groups.

    2. On the Groups screen, click Create New. (You can also go directly to this screen via side menu > Productivity Tools > Groups.)

    1. On the Create Expense Group screen, enter the required information:
      • Name

      • Description

    1. Select the relevant options:

      • Add new expense items automatically: Automatically adds all new expense items to the new group as they are created.

      • Include all expense items in new group: Includes all existing expense items in the new group.

    1. Click Save.
    2. On the Edit Expense Group screen, you can then click Actions > Assign Expense Item to assign expense items to the newly created group.
    3. Click Save.

Add Custom Fields

Using custom fields, you can track extra characteristics and attributes of your expenses. You can add unlimited number of custom fields to an expense item. You can even customize these fields in the Custom Labels screen.

To add a custom field:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    2. In the list view, select an expense item and click Detail on that row.

    3. In the detail view, go to the Custom Fields tab and click Add Custom Field.

    1. Select the type of field you want depending on the purpose, say Text Box.

    2. On the Add Text Box dialog, enter the required information:

      • Name

      • Type

      • # of Characters

    3. Check Show in List View if you want this field to appear under the Show/Hide Columns list and show up on the grid. Click Save.

Note: You can display a maximum of three custom fields on the list view per screen.

Add Documents

When you attach documents to an expense item, they are inherited by the related expense entries.

To add a document:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    2. In the list view, select an expense item and click Detail on that row.

    3. In the detail view, go to the Documents tab and click Add.

    1. On the Add Documents dialog, select the relevant tab, depending on the type of attachments.

      • Computer: To attach files stored on your computer, enter its Description and drag your file or click to browse to that location.

      • Hyperlink: To attach an external link, enter its Description and then insert the hyperlink.

      • Dropbox: To link files stored in your Dropbox account, enter its Description and then browse for it.

      • Google Drive: To link files stored in your Google Drive account, enter its Description and then browse for it.

      • OneDrive: To link files stored in your Microsoft OneDrive account, enter its Description and then browse for it.

      • Box: To link files stored in your Box account, enter its Description and then browse for it.

      • Resource Library: To link company resources, select the resource from the library. This option is available only with Core CRM.

    2. Click Add.

    Core pre-fills some of the information about the attached documents in the grid. You can send the documents to your clients, employees or other contacts for getting their digital or electronic signatures (eSignature via DocuSign) using the eSign option from the  row-action menu. Core automatically adds the signed documents to the Documents folder of the entity (record) as separate attachments. It displays the status of the document, whether it has been delivered via DocuSign, viewed by the recipients, declined or completed by the recipients, etc. This column does not show up if you are not connected via the DocuSign integration.

Send Expense Items

In Core, you can send expense items to your accounting program, such as QuickBooks Online, Xero and MYOB AccountRight.

To send an expense item to your accounting program, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    2. In the list view, select an expense item that you want to send and click Detail on that row.

    3. In the detail view, click Actions > Send To on the top-right.

    1. Select the relevant option from the drop-down, say QuickBooks. Your data is sent.

Merge Expense Items

In certain situations, you might want to combine multiple expense items into a single expense. Core allows you to do that by moving all the time, budget and expense line items, and any other transactions linked with the expense items to the selected destination expense. Attachments or any other objects linked with the source expenses are moved to the destination expense.

To merge expense items, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. Select an expense record on the grid that you want to combine with another and click  to select Merge.

    2. On the Merge Expense Items dialog, choose the expense item from the drop-down into which you want to merge the selected items.

    3. Click Merge.

Show/Hide Columns in Grid

You can configure the fields or columns that appear on the grid in the list view. You can hide or show columns, and sort the order of columns according to your requirements.

To do so, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, click More > Show/Hide Columns on the action bar.
    2. Select or un-select the column names in the drop-down list, say Income Account.
    3. Next, click the column name you want to sort the data by, say Billable.
    4. Click once for ascending order (A-Z) and twice for descending order (Z-A).

Note: You can resize the column widths on the grid and then reset them, if needed (More > Reset Column Widths).

Export Expense Items

In Core, you can export expense items to the Comma Separated Values file format. Core exports data from all available columns and not just the columns visible in the grid.

To export an expense item to a .CSV file, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, click More > Export as CSV.

    2. A .csv export file is created and saved on your system at the default download location, say your desktop. Click to open the spreadsheet.

Apply Filters

Besides filtering data using the standard fields on a screen, you can also use the custom fields for that, if you have set them up.

To view selective data on the grid, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, click  on the right.

    2. On the Filters panel, select a filter from the drop-down and specify individual records or range.

    3. Click Add Filters to specify more filters.

    4. When you have finished, click Apply Filter. You can see selective data now.

    5. In the list view, you can remove the individual filters by clicking  on each. To disable applied filters temporarily or remove all filters, click next to the Filters icon and select Disable Filters or Clear All, respectively.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in Core as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in Core from User Preferences.

To mark this screen as your favorite, watch this video or follow these steps:

    1. Open the Expense Items screen from the side menu > Lists > Expense Items.

    1. In the list view, click  on the top-right.

    2. You can access this screen from the side menu under Favorites.

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