The "Expense Accounts" tab allows you to set up the expense account your employees will use to track expenses.
Navigating to Expense Tracking Settings
- Expand Settings, expand Time and Labor Mgmt, and click Expense Tracking from the menu.
- Click Settings from the top menu bar.
- Click the Expense Accounts tab.
The Actions drop-down menu allows you to:
- Create Company Expense Account
- Delete Selected Record(s)
Creating Company Expense Account
- Click Create Company Expense Account from the Actions dropdown menu.
- Enter the following information:
- Active Expense Account - Checkbox to make this an active expense account.
- Account Code - The name/code of the expense account. For example, it could be Mileage, Meals, etc.
- Pay Code - The pay code that should be associated. If no pay code is selected, it will default to "Regular Pay".
- Rate Code - The rate code that should be associated, typically "Base Rate".
- Account Description - Description of the expense account.
- Enable Mileage Reimbursement options for this Expense Account - If enabled, will provide additional fields when an employee submits an expense report to calculate the distance traveled. The distance traveled will be used with the per rate per unit to calculate the total expense amount (Total Miles x Pay Rate = Total Amount).
- Pay Rate per Unit
- Press Add Record when finished.