14.2. Understanding OfficeClip Expenses

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:

[Note] Note

For users to be able to use expenses, the projects, expense types, default currency and customers need to be defined.

14.2.1. Currency

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 Expense >Admin > Currency.

  • Choose a default currency and click Save Default.

[Warning] Warning

Once the default currency is set, it cannot be changed and all existing expense reports will be set to the default currency.