The expense sheet aids in calculating the expenditure incurred for project-related activities and helps in billing these activities accurately. When integrated with the timesheet component, this component helps the organization get a clear picture of income and expenditure, as well as the profitability.
The following are the important aspects of the expense sheets:
Users enter the expenses for a project and expense type. An expense type can either be billable or non-billable.
If the details required check box has been enabled by the administrator, then the user must provide the details of the expense type selected.
The default currency is set to ensure that all the transactions are done through a single currency type.
Completed expenses must be submitted for approval through the routing method selected by the administrator. Routing rules can be configured separately for each user.
For users to be able to use expenses, the projects, expense types, default currency and customers need to be defined.
A default currency can be set for a particular group. This helps the user to customize the expenses component to his/her organizational standards.
In addition, each user of the organization can have a different currency. If the user currency is set, it overrides the default currency.
To set up a default currency:
Click> > .
Choose a default currency and click.
Once the default currency is set, it cannot be changed and all existing expense reports will be set to the default currency.