Expense types are set up by Administrators in ExakTime Connect for you and your employees to select from when adding an expense record. These expense types can range from operating expenses such as fuel to travel expenses such as per diem.
Table of Contents
Navigating to Expense Types
- Go to Tools and click Expenses.
- Click Expense Types towards the left.
Understanding Expense Type Page
- Add Expense Type - Add a new expense type for expense records.
- Search - Search for an expense based on the type of expense or the default amount.
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Expense Type List - The expense type list will have columns for:
- Actions - Modify an existing expense type.
- Active - Click the column header to sort/filter the list.
- Type - The expense type will be seen when adding an expense record. Click the column header to sort/filter the list.
- Default Amount - The default amount that will be used when entering an expense record. Click the column header to sort/filter the list.
Adding an Expense Type
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Click Add Expense Type from the left-hand side or click Add Expense Type when already viewing the Expense Type page.
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Setup the Expense Type
- ID - The ID is required and can be any number. It will typically match the expense ID from your accounting software for easier reference.
- Type - The name of the expense type that you and/or your employees will see when adding an expense record.
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Default Amount - The default amount can be entered, so when the expense type is used for an expense record, it will auto-populate with the default amount entered here and cannot be modified. The maximum default amount can be 99999.
- If the default amount is edited for an expense type, the amounts of any previous expense records with the expense type will not update to the new default amount to preserve historical data. If the amount of an expense record needs to be updated, it must be updated manually in ExakTime Connect.
- Save your expense type.