The Expense screen enables you to create and maintain a standard list of expenses for your company. Expense codes can be billable or non-billable expenses charged against projects, such as materials, travel, mileage, copies, subcontractor services, and other items. They can be reimbursable from the clients or absorbed by the company as part of a project contract. Web Suite supports any number of expenses you require for proper billing and effective management reporting.
The expense codes along with the default properties will be available when you log expenses in the Expense Log screen. In addition to creating a list of your staff's expenses, you can also assign default properties for each of them. When logging expense records, the default information is brought forward to the expense log, but can be edited when the expense is logged. If the default properties of the expense codes are altered, existing expense entries are not modified in any way.
Data Entry Fields
Code:
(required)
Expense IDs consist of two parts: a main code and a sub code. The two fields
are combined with a colon in-between to create the Expense ID. The resulting
Expense ID must be unique and the field size is 31 characters. When planning
your expense ID structure, keep in mind the ease of recall, what the ID
should communicate is its meaning, and other factors.
For example, GEN: MKT refers to general marketing
and sales expenses.
The field size for the main code is 15 characters. The main code can specify
a department. If you are an Architect's office, you might employ both
architects and draftsmen. If both the architects and draftsmen produce
blueprints, create an expense code for each: ARCH: PRINT and DRAFT: PRINT.
Where ARCH and DRAFT are the main codes and BPRINT
is the sub code. The main code can specify a generalized expense.
Sub:
Expense IDs consist of two parts: a main code and a sub code. The sub code
field size is 15 characters. The two fields are combined with a colon
in-between to create the Expense ID. The resulting Expense ID must be
unique and the field size is 31 characters. For example, If you are a
Computer Consultant you might resell both NT and Novell servers. Create
expense codes for each: SERV: NT and SERV: NV. Where SERV is the main
code and NT and NV are the sub codes.
Description: (required)
You can define the expense in detail by providing a suitable text description for it. The field size cannot exceed 50 characters. The Expense Description is brought forward in the Expense Log when expense entries are made and can be recorded with the expense entry as is or can be modified. The Description on the expense entry is then displayed on invoices and reports reflecting the meaning of expense code.
Default Group:
This is the primary group to which an expense code belongs. It is used when an expense is a member of multiple groups. In such cases, Web Suite displays the expense under the default group on reports. By default, all expenses are included in the All group.
Expense Type:
The Expense Type drop-down enables you to classify the expense as Inventory, Non-Inventory or Other Charge Items. The check box, Product gets selected automatically after you select Inventory as an Expense Type.
Income Account:
With each Expense Code an Income Account can be associated which is specified in this field and can be selected from the drop-down. Income Accounts are created in the Chart of Accounts screen.
Expense Account:
With each Expense Code an Expense Account can be associated which is specified in this field and can be selected from the drop-down. Expense Accounts are created in the Chart of Accounts screen.
Cost:
The default cost rate for the expense. This should represent per unit cost,
excluding any markups and taxes for proper expense tracking. If the cost
of an expense varies, this space can be left blank. Then, when you log
expenses, you can enter the actual cost. Although only two decimal places
might be displayed, more can be entered. For example, if you assign a
cost amount of 23.677 for mileage, then the value that will be displayed
will be 23.68. The rate entered here will be brought forward when logging
expenses except when an Expense Fee Schedule is assigned to the project
as it overrides the expense rates.
Markup:
The markup column determines the percentage Web Suite will increase the
cost of the expense to determine the charge amount. If the markup percentage
varies, you can leave this field blank and enter it when you log expenses
in Expense Log. You can also enter fixed dollar values by prefixing the
value with the dollar symbol. Web Suite instantly calculates the percentage
value and displays the same here. For example, if user enters the following:
Cost= 10
Units= 1
Markup= 10
Then, markup will be taken as 10% and Charge Amount= $11
OR
Cost= 10
Units= 1
Markup= $10
Then, markup will be calculated as 100% of cost value and displayed as
Markup = 100
Charge Amount= $20
Tax 1/2/3:
Up to three taxes can be applied per expense code. These taxes are summed
and used to calculate the total item tax amount on an expense entry and
are in addition to the Main Expense Tax applied to total invoiced expenses.
For example, if an expense (GEN:MI) has a Tax 1 value of
5% and Tax 2 value of 10%, when an expense entry is made using GEN:MI,
15% will be added to the cost amount (Units x Cost Rate x Markup). If
only one tax is charged to the entire expense amount, you should use the
Main Expense Tax. If the tax authority in your area imposes taxes only
on invoiced expenses, then also you should set up the Main Expense Tax
(MET) in the Project screen or Global Settings. If all the projects for
a client are taxed, set up the MET on the Client screen. If the tax authority
charges one tax on top of another, use both the taxes for expense items
as well as invoiced expenses (MET).
The Tax 1/2/3 labels can be modified in the Custom Labels screen to appropriate tax jurisdiction names. The customized field labels also carry to the expense entry screens.
Purchase Tax:
This is the tax paid by the company on an expense item and is subtracted from the charge amount to avoid double taxation for the client. It 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)
Custom 1/2/3/4/5/6:
Custom fields holding up to 50 characters each describing unique expense. These custom textboxes enable you to record additional information regarding the expense. The caption of Custom 1/2/3/4/5/6 labels can be changed in Custom Labels.
Calendar 
displays near the
Custom fields 1/2/3 if you have chosen Date data type for them. Click
this icon to display the drop-down calendar where you can select the desired
date.
Memo:
With each expense
code, an unlimited length memo can be recorded. Click 
to add the current
system date and time to your memo.
Billable:
The Billable check box identifies the expense as either billable or non-billable.
Select this check box for all expenses that are considered billable to
the client. Overhead expenses should be non-billable. When an expense
is selected in the Expense Log, its billable status is brought with it
but can be modified. However, generally if the expense is billable, it
is not associated with the project contract amount but non-billable expenses
form its part. Billable expenses are like reimbursable expenses that client
pays above and beyond his agreed contract amount.
Product:
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'll want to create an expense item with
"Product" selected to track these products. If you keep products
in stock and you want to track the products you sell as inventory, setup
an expense code with Product checked. When you track a Product type expense
in Expense Log, enter the cost you've paid for the product, the number
of units. It will be multiplied by the per-unit Cost to determine the
total Cost Amount. You can also apply the markup which is added to the
total cost amount.
Reimbursable:
This check box identifies the expense as either reimbursable or non-reimbursable.
Select this check box for all expenses that are considered reimbursable
to the employee. When an expense is selected in the Expense Log its reimbursable
status is brought with it but can be modified.
Inactive:
Select this option for the expense code which you don't want to appear in the drop-downs throughout the Web Suite.
Help:
Opens the Web Suite Help in the Expense section.
Print:
Opens the Reports Viewer where you can View, Print or Export the Report.
Attachments:
Click to open the Attachments screen where you can attach one or more files to the expense item. The text link also displays the number of files being attached to the record.
Save:
Saves information as entered on the Expense screen.
New:
Enables you to enter a new expense record into Web Suite. It displays the data entry fields above. Click the Code or Sub field where you must type the Expense ID and can then <TAB> through the remainder of the screen to enter additional information.
Return:
Closes the Web Suite Expense screen and takes you to the Expense List screen. It is important that you close the screen using the Return button and then log out. Do not close your browser directly as that leaves your connection open on the server for up to 20 minutes and can impact the server performance.