The
Reference Companion Guide is a Students guide and take away for this course.
Please download, email or upload this guide for future use and take notes or
provide additional information on any given topic.
The
Reference Companion Guide should be used in conjunction with an E-Learning or
trainer led instruction course.
NOTE: that module practices are best
executed when a trial and/or test environment is available.
Contents
Module 01:
Course Introduction
Module 01: Create and
Configure Project Expenses
Lesson 1: Project Expense
Overview
Lesson 2: Creating
Project Expenses
Lesson 3: Create a
Project Expense Report
Lesson 4: Configure
Project Expense Policies
Practice 1.1: Create an
AP Invoice Journal Project Expense
Practice 1.2: Create a
Project Expense Report
Module 01: Course Introduction
Lesson 1: Course Introduction
So,
our course objectives are to explore the different ways to book a project
expense. So, basically, there are going
to be four ways that we're going to cover via demonstration through this course
the AP invoice journal and AP invoice, a general journal, and then we'll submit
a project expense through an expense report.
A secondary note is that we're going to make sure that you understand
the core information required on an expense.
So, it's all pretty uniform what you need to book an expense in the
product, but we'll make sure that you know the requirements. And then finally, we'll look at how you
create a project expense policy and the components around it. With that being said, let's get started.
Module 01: Create and Configure
Project Expenses
Lesson 1: Project Expense Overview
During
the project expense overview, we'll look at the different ways that you can
book expenses to a project, and we'll also talk about some of the essential
information that you must have on expenses.
So first we'll look at the ways that you can record project expenses to
a project, and I classify these as two different ways, primary and
secondary. So, the primary ways that
you'll typically use to log project expenses are through an expense report. So, there's integration from the expense
management module to the project accounting module or project management and
accounting module. So, expense report is
one way. AP invoice journal is a pretty
common way -- or a very common way, I should say. So, if you receive an invoice and you just
want to code it to a project, it'll show up on the project as an expense. And then project expense journal is another
common way, and we've already talked about that in previous -- in one of our
previous courses. So, the secondary way
that you see but not as often are AP invoice.
So, basically, AP invoice is the invoice that's used with a purchase
order or you can create an AP invoice that is not necessarily associated with a
purchase order and you can add service items or procurement categories. When you add procurement categories to an AP
invoice, you can code them to a project and you can select whatever category
you want, whether it's an item type or expense type. So, if you pick expense, that's the way that
you can book project expenses through an AP invoice. General journal is another way. It's very similar to the project expense
journal, where you can go in there, define what your primary account offset
then as the project, and then once you post that, it will be an expense on your
project. And then invoice register, just
another way to create an AP invoice. So
those are the six ways. The primary ways
or the more -- the ways that I commonly have implemented and seen more of
through support tickets or just questions in general, and the secondary ways
are the other ways that you can log project transactions. So, this slide's titled expense transaction
essentials, and the idea is that we're just going to discuss the information
that is needed on an expense type transaction.
So, you can see the first bullet is when, and that's basically the
date. So, you must tell the system when
you're recording the transaction. Then
where, and that would be the project field.
So, with every expense transaction that you want to book to a project,
you must have a project ID. Who, you
always have the availability of entering an employee or a resource or whatever
the field is on your expense transaction?
It's where you put your employee number that's associated with the
expense, and it can be optional or mandatory.
You can configure that. And then
how much, you always must define a quantity in your cost or your cost price, or
both. And then there's the invoicing
information, which comes down to the sales price and the sales currency, and
then there's always tax information as well.
And then finally, with some of the expense reports, you must define what
the ledger accounts are -- and I shouldn't say the expense reports, the expense
transactions. So, like a project expense
journal, you must define the offset account.
So, the first account's project.
The offset account, you get to define manually. So, you must make sure you're defining your
ledger accounts appropriately or have your posting profile set up
accordingly. All right. So that's the information that's generically
needed by a project expense transaction.
Lesson 2: Creating Project
Expenses
During
this lesson, we'll be creating project expenses. For the demonstration of creating project
expenses, we'll specifically create an AP invoice journal and post it towards a
project, then we'll create a general journal and post it towards the project,
and then we'll finally take a look at a AP invoice and how you can book that
expense towards the project. And then
after we get done, we'll review the project and see exactly what happened. All right.
We're going to demonstrate creating some project expenses. And so far, what I've done is I've created
Project 220, which is the project expense project, and what we're going to do
is book an AP invoice journal right away.
So, you can pretend that basically you had a third party, or some vendor
do some sort of work for you and they've sent their invoice in and now you must
make sure it's coded to the project properly.
So, you're the person in accounts payable that is going to be entering
in the invoice. So, we'll go to accounts
payable, and then under invoices there's invoice journal somewhere. There it is.
So, we'll select the invoice journal menu item, and basically this is
going to bring you to your AP invoice journal, and we'll just create a new
one. And we'll go to the lines, and then
basically we can add a line of vendor type.
We can say what vendor performed the service for us, and we'll just say
that it was Economics Parts Supply and they invoiced -- we'll just say today
and its Invoice 1000, and it was for a thousand dollars. And instead of having ledger as the offset
account, this is where you specify project as your offset account. And then you must define which project, so
it's 220. So, I'll sort this
descending. So, we'll just pick our
project. And then notice when you pick
the project, you have the project tab up here.
So, you can go over to the project tab and you can look. You have the project date; you have your
offset account. If you want to define an
activity, you can. Category, what
resource is assigned to this specific expense transaction, and then the
quantity, cost and sales price, and then there's the sales tax information as
well. So, with, I’ll just leave it as is
and we'll post. So, once you post, then
you're going to have the vendor balance out there to be paid, your project's
going to have an expense on it for a thousand dollars associated with Invoice
1000, and it should be good to go. We'll
come back and review that. So, let's run
a different type. This is very, very
very similar. So you can take the same
scenario where you had a service done or you bought some kind of parts for our
product, and I'm saying parts loosely, because we're not going to define an
item. It's just some sort of expense or
some sort of invoice that you want to register towards the project. So we can do this from a general journal as
well, and that's in the general ledger module.
So under the general ledger module, under journal entries here, you can
see there's a general journal. So we'll
create a general journal and we'll just pick the one that we have right there,
and we'll go to the lines and it's the same process. So if you want to define the primary account
as vendor, you can. So I'll do that,
I'll just pick vendor. And then you can
pick a vendor account. It doesn't have
to be a vendor account, you can do what you want here, but we'll just say this
one was for 2,000, the offset's going to be project, and we'll pick our same
project number -- there's 220. And,
yeah, I put the amount in there. You can
see we have the tax information on the far right and some other things. You can also see that we have that project
tab again, and it's the same as you were seeing on the AP invoice journal, is
that you can define all the same fields, but once you're completed with the
definition of your line and the journal, you can post. And we should have a $2,000 expense booked to
our project, with a $2,300 sales price.
And then the final way that I wanted to show you is doing this through a
-- or logging an expense to a project through an AP invoice. Not an invoice journal, an invoice. So to do that, you can be in the accounts
payable module again and there's a form or a menu item under invoices called
pending vendor invoices. You can go here
and you can actually just create a new vendor invoice. And this is the invoice form that
automatically spurs or comes up when -- I'm going to hit no here -- comes up
when you try and invoice directly from a purchase order. But the first thing you want to do is define
a vendor, and I'll pick Hardware Components, give it a invoice number -- I'll
call this one 3000. And the rest of it,
I'll leave alone. I'll just add a new
line. So the thing to note is, if you
add a line and then you define an item number, that's going to be an item type
transaction according to the project module, because the category -- so I'll
just show you real quick. So if I go
down to the project module -- or the project tab down under line details, you
can see that if I hook it up to a project -- and I'll just pick City
Manufacturing real quick -- you can see since I have an item number selected,
it only gives me transaction type item for category selection. So I'm going to remove this line. And there's the concept of procurement
categories, which are basically treated like non-stock items in the system, but
you can have a list of procurement categories and we'll just say that we had
some, yeah, vehicle expenses. Sure. So we'll pick vehicle expenses, we'll define
a quantity. We rented -- let's say for
three days we rented a vehicle, and then you can define quantity, a hundred
dollars a day, $300 cost price to us. So
if we go look at the project tab, we note that the project ID is not populated. So I'll grab our project 220, and then you
can see that the project category field is now not grayed in and you can select
something, but you can see all the different transaction types. So we can go ahead and pick one of
these. I'll just put it under travel as
other travel costs. Define a worker,
define your line property, a project date if you want, unit price and -- yeah,
it should be good here. And you can see
the sales price is coming in at a hundred dollars. Anyways, once you have this defined, you can
go ahead and post your AP invoice. All
right, and let's go back and take a look at that project now. So we'll go back to Project 220. So I'll go to my all projects list. I'll just sort it descending. There it is.
And what I want to do is take a look at the posted transactions form
here, and I can see there's my different expenses. Here's my $1,000 one that came from the AP
invoice journal, here's my $2,000 one that came from the general journal, and
there's my $300 one that came from the AP invoice for the procurement
category. Ultimately, we did things -- I
mean, three different ways, but they all came to the project in the same
way. So that's just three examples of
how you can enter expenses. The most
common one that I have run into in my life span using AX is the AP invoice
journal, where the company basically receives an invoice and then they just put
an AP invoice journal to offset project to get the expense towards the
project. So, yep, that's the three
different ways that you can enter an expense -- or three of the primary ways
you can enter an expense to a project.
And next, we'll get into how you can do so through an expense
report.
Lesson 3: Create a Project Expense
Report
Let's
take a look at how we create a project expense report. During this demonstration we'll take a look
at the category setup, because when you set up a category you can enable it for
project use and expense use. So we'll
just take a look at the toggle that you need to toggle. Then we'll go in and we'll create a project
expense report. Then once we get that
done, we'll process the expense report; so submit it through workflow and do
all the processing steps. And once it's
been processed, then we'll take a look at the expense on the specific project
that we code it to. All right, so we're
going to go ahead and create a project expense report. So what I've done so far is created the
project 221, which I just called project expense report. And the first thing that you need to know
when you're going to book an expense using expense report, you have to have
categories that are both usable in the project module and the expense module,
and we'll just take a quick look at that real quick. So in the project management and accounting
module, under categories -- I guess under setup and then categories, we'll take
a look at our shared categories. And if
you remember, these are all the different categories that are shared between
all the legal entities, et cetera, and you can release them through different
modules. So you can see can be used in
project is yes. Can be used in expense,
which means the expense management module, is flagged no. Can be used in production, it says no. So that's the production module. Anyways, we have some such as -- let's just
look at travel, I think that one is. So
we'll hit travel. You can see that this
is a project category because it's flagged as yes, and then it's used in the
expense module and it's of miscellaneous type in the expense module. So basically when you're creating a shared
category, you have to enable it for use in the project and the expense
module. So if you have that combination
and a lot of other expense management setup, which has its own course that you
can watch -- but if you want to enter an expense report, you basically go to
the expense management module, and then under my expenses you can go to expense
reports. And then from here, you can see
all your old expense reports and what status they're in, but you can come in
and hit new expense report and you can type in a purpose or a location. They're just pre-defined values, they're
optional. So you can hit OK, just to
move past that. And then this is going
to be -- if you do the credit card import or anything like that, it's going to
be unreconciled expenses that you can pull onto your expense report. We'll skip that part and just hit
continue. Now we're at the actual expense
report and we have a line added already.
So this is a little different looking field than you're used to, if
you're used to the old product, but you can see that we have a grid over on the
left, which are all the lines in your expense report, and then the right is the
details of a specific line. So I'll just
pick the expense category dropdown, and you can see these are all the different
expenses that are available to this module, and most of these double up as
project expenses. There's only one in
here that doesn't, which is the expense only one, which I added ahead of time
just so you can see the difference. But
when I -- let's pick -- oh, I don't know -- taxi. So you're going to put in a taxi ride as an
expense. So you can come in, put the
transaction date, and we'll just put today's date. You can add a merchant if you want, say how
you paid, company credit card. We'll say
it was a $55 taxi ride to airport. Now,
this is the key. If it has -- this
category has project flagged as available on the project module. That means that you'll see the project ID
here. So, basically, it's just like any
other expense that you put towards the project module. You're going to have to define the
appropriate project. So I have my 221
project on here. And then you can define
an activity number if you want to, and if you want to add an internal note for
the review process, you definitely can.
Now, if you want to add another expense, you sure can. Same way, and I'll just show you that you can
mix it. So you can have non-project
expenses mixed with project expenses, same process, but this time you notice we
don't have anywhere to put the project in there. So I'll go ahead and add another line, just
one final one, and we'll say we did a flight, a thousand-dollar flight. I pick my project number. Yeah, OK.
So there's my three expenses, combined total of $1555. So once you're done with all your expense
lines, then basically -- this is pretty similar to the timesheet process where
you go ahead and submit it to workflow, and now you're at the mercy of the
workflow engine in the process. So I can
see there's my $1500 -- $1555 transaction there that I've submitted, it's in
review. I'm waiting for workflow to
process, and I can come up here and take a look at the history if I want to to
see what's going on. I can see that it's
activated and I can just keep refreshing until it's either approved or
submitted to somebody. I believe this
actually assigns back to myself and I can approve it myself, but while we're
waiting on that -- so basically what happens here is, it has to get approved
and then there isn't an automatic posting routine that I know of. Basically what happens is it goes into a
queue and somebody from the finance team or whoever the applicable person is
will go in and actually have to post this after the fact. So let's hit this. There we go.
So you can see -- you can dive into the details, but I'm going to do it
right from the header here. I have this
expense report flagged. I looked at it,
it looks good, I'm just going to approve it.
So we'll go ahead and put in approved status. So once that's done, you can basically go to
the expense module, and under process expense reports, you can see that there's
a menu for approved expense reports. And
here, I'm waiting on the workflow engine to process that approval that I just
did, and I don't know if I hit the submit button over on the right. Let's go look at that. I'll just go to all expense reports, and
here's mine up here. If I hit workflow,
let's view the history, see what's going on.
It shows that the work item is approved and I'm waiting for the
completion step to get done. It shows
it's completed, but over here it doesn't.
Anyways, let's go back and look at our approved expense reports. There it is, it finally showed up as
approved. So basically when it's
approved, you can come in and you can then hit the post button. And once you hit the post button, that's
what's going to actually post that expense to our project. So now if we go back and take a look at our
project -- all right. And now let's hit
the posted transactions form where we can look at one of the statements, it
doesn't matter, but you're going to see those dollars consumed. So there's the flight, there's the taxi, and
then you notice that third line that I had on there for whatever -- I don't
remember what category I picked, but it was a $500 transaction, I believe. That is not on here, because we didn't code
that to a project. You only get the
transaction lines that are coded to the project and they show up as dollars
consumed to the project that you associated with them. So, yeah, with that being said, that's the
process to submit an expense report and code it to a project.
Lesson 4: Configure Project
Expense Policies
Using
project expense policies, you can create permissions or restrictions for the
types and amounts of expenses that workers can submit through an expense
report. You can decide to warn workers
that an expense report exceeds a specific maximum amount but accept the
submission. You can also prevent expense
reports that exceed a specific amount from being submitted. Expense policies can be very general or very
specific. For example, you can have one
policy that applies to all workers who are assigned to a particular project
contract for the duration of the contract.
You could also have a very specific policy that applies to a single
worker or a single day in a particular city.
Let's talk about the components of an expense report. Before I start talking about the components
of a project expense policy, I just want to clarify a couple things. A project expense policy is only applicable
to project expenses that are submitted through an expense report. It doesn't work with a project expense
journal or the other options to enter project expenses. And the secondary thing is, it's not the same
thing as the expense policy functionality that lays in the expense management
module. There's something called an
expense policy that is very, very similar to this functionality that we're
going to be talking about here that is in the expense management module, but
just keep in mind they're different pieces of functionality. So going back to a project expense policy,
there's two primary setup components.
One of them is called the project expense policy worker group, and all
it is is a group of workers. So you can
see in the form below on the very left side we added a group called sales, and
then on the right, bottom right side, you have two panes. You have the selected worker pane and the
remaining workers, and all you do is take workers out of the remaining worker
field and add them to the selected. When
they're in the selected side, that means they're part of the group. And this is an optional piece of setup. You don't even have to configure this if you
don't want to. The second piece of setup
is you actually go define your project expense policies using the project
expense policy form, and this is what it looks like. I had to zoom out a little bit to get the
whole form in, so it's kind of small there.
I'm not going to talk about every field, I'll just give you the
high-level overview here. Basically you
can create a line for any category that you want. So in the example below, we have a policy
around the expense category of meals.
And you can define those lines at a specific policy type, whether it's
at a company level or a customer level.
If you do customer, then you can get down to what specific customer,
what specific contract, what project. If
you do company, you don't define a customer project or project contract. You just define what workers it applies to,
whether it's a group of workers, a specific worker, and then you can define
what city it's applicable to. And then
after that, all you're doing is defining the rules around the policy, which is
what you allow. It's basically -- you
can throw a warning if you're above a certain amount and you can throw a hard
stop if you're above the -- it's called the maximum amount. And then there's require receipt that you can
also do and then there's a receipt minimum.
So if you're over a specific amount, then you have to provide a receipt
as well. So we'll get in and demonstrate
that here right now. So with our
demonstration, we'll go ahead and take a look at the policy worker group form
and just create a quick one, just so you can see that, and then we'll go in and
define a new expense policy for the flights category. All right.
So we're going to go through and create a project expense policy, and to
do so, you're going to be under the project management and accounting module,
under setup, and then the policies folder.
There's two menu items in here that relate to project expense
policy. There's the project expense
policy menu item, and that's where you go define your rules. And then the project expense policy worker
groups, that's where you create your worker groups that you can apply to each
rule. So let's just create a quick
group. So we'll go in here and we'll
just create a new one, and we'll say that it's for our IT department and we'll
just select some workers. I want to make
sure I have Julia in here. So then we'll
add -- those to the left pane, basically they're the selected workers, meaning
they're part of our IT group. So a
pretty straightforward setup there -- create a group, add the workers that you
want to that group. All right. So now if you're at the point of creating
expense policies, you can basically go to project management and accounting,
setup, policies, project expense policies.
It's going to bring you into a form -- or this form that you're seeing
right now, and you can put it in edit mode to edit any of your existing. So basically right now I have a policy out
there and let's apply it to our IT staff, but we have a policy for meals. And basically what it's telling us is that
the allowed amount -- or the max amount, I guess, is $50 and then there's
another field called maximum amount at 75.
So basically what happens is, if you have -- and it's per unit of an
expense. So per expense meaning per
line, or you can run it per day or per report, but basically it's saying that
if your meal expense is over $50, you're going to get a warning. And the maximum amount is $75. If you go over $75, you're going to get a
hard stop. So allowable amount is your
warning amount, max amount is your max amount.
All right? So that's a little
confusing when you look at this. And
then the per unit, just note that you can do it at a line level, meaning the
expense level, or you can do it per day for an expense report or you can do it
at an entire report level as well. All
right. So let's add our line for the
flight policy that we're going to put in place.
So when we go ahead and do so, the first field that you're going to run
across is the policy type. So you can do
this at a customer level or a company level.
So if I pick customer, you'll notice that now the customer account is
active. You have to populate a
customer. If you do so, then both these
fields will come into play. The contract
ID, so then you can pick a contract, and then you can pick a project if you want
to, if you want to get down to that granularity. If you're not worried about the customer
account, the contract, the project, et cetera, you can go to a company
level. And if you do so, customer,
project and project contract are irrelevant.
So then you can define your start and end date. So we'll just start at 1/16 to 12/31, and for
this one -- now, since we're at a policy type of company, basically you get to
define either the specific worker or city that this policy line is applicable
towards -- worker, city. And the city is
just your ZIP code, so you pick the ZIP code.
And then the project expense policy worker group, if you go under a
group of workers, you could pick it. So
let's just pick our IT department, because we know I added Julia Thunderberg to
that. Expense category, you can see
that's a required field. So all your
lines have to be at the category level.
So let's go pick flights -- there it is -- and then you can define the
currency, which we'll say is USD. And
now this is where you can put your warning amount. Any expense for flights over the allowable
amount will receive a warning. So we'll
say that if you're over a thousand dollars, you get a warning. And we'll just do that per flight, so per
line. And you can require a receipt --
I'm not going to do so -- and you can actually fill in this receipt
minimum. So if it's over a specific
amount that you define here, you require a receipt. So I could put $500, and then if you put a
$700 flight in there, a receipt would be required. Max percent -- you don't even have to work
with this field if you don't want to, but it's basically a way to bump up the
max amount field by a specific percent.
So if I put 20 percent in here, the max amount would go to 1,200. If you adjust the maximum amount field -- if
I put this to 1,500, you can see the max percent field will automatically
adjust. So right now we just created a
policy rule for flights that will give a warning if you're over a thousand
dollars and a hard stop if you're over fifteen hundred dollars. So let's go test it, we'll look at the meals
as well. So I have an expense report up
in the background. So we'll go to that
and basically we'll just add a new expense.
We'll say it's for flights, and then we'll say the transaction date is
-- we'll just put a T for today and we'll say a $1200 expense on any project,
and we'll go ahead and save. And you can
see once I save that, we get a warning.
So the amount 1200 exceeds the -- for flight, exceeds the allowed amount
of 1,000. So it's only a warning here,
and you can see I've been doing this a little bit in the background, but what
happens if you go over the $1500 amount -- and right now, this will let us
submit it, no problem, but if I did 1600, you can see that we get a hard stop. So it's an X now and not the warning
sign. The amount of 1600 entered for the
flight exceeds the allowed amount of the $1,000 per expense. So we're over the max. I mean, this demonstrates the policy
functionality. You can either have it
throw a warning or an error, but basically all you have to do is go define
these expense rules in the expense form and set up your different worker
groups, if you want to go to that level, and then you can configure all your
different expenses. And just to note and
I guess reiterate that this is different from the actual policy functionality
in the expense management module. So if
you go to expense management, under setup, there's policies here and there's an
expense report policy. And basically
here you can do pretty much the same type stuff, but you actually build out
if-then conditions. I'll just show you
real quick. So let's just look at an
expense policy and let's say -- yeah, they have some rules for air rental and
car rental. Let's just look at airline
and car rental, we'll just take a look at it.
So basically what happens here is, if you put -- if you put a flight on
there and you actually have a business class flight that you booked, you have
to provide a justification as to why you picked business class instead of
economy. So you can build out the rules
in a little more granularity by building the condition right here. So you can use either/or, but the project
expense rules are pretty simplistic. So
if that's the route you want to go, you can use the project expense policies.
Module 01: Practices
Practice 1.1: Create an AP Invoice
Journal Project Expense
Scenario
Judy a Project
Manager at Contoso Consulting receives an invoice from Guaranteed Sales and
Service which is a vendor that Contoso often uses to perform a health check on
client installs before performing any Contoso consulting services. Judy will send the invoice off to the account
payable (AP) department to be registered and paid but before sending the
invoice she writes the project and category on the invoice so AP knows how to
code the invoice.
Steve in
Accounts Payable receives the invoice and is going to create an AP Invoice
Journal to register the project expense.
Here is what he knows about the invoice:
1.
Project Number: 00000096
2.
Category: Reference
3.
Vendor: Guaranteed Sales and Service
4.
Amount: $1250
5.
Invoice Number: G1235
High Level Steps
1.
Create and Accounts Payable
Invoice Journal
2.
Define the Lines on the Journal
3.
Post the Journal
Detailed Steps
1.
Create and Accounts Payable
Invoice Journal
a.
Navigate to Accounts Payable > Invoices > Invoice
Journal.
b.
From the Action Pane, select
the +New button.
c.
In the Name field select APInvoice.
d.
From the Action Pane, select the Lines
button.
2.
Define the Lines on the Journal
a.
On the existing line enter the
following:
i. Account: US_SI_000013
(Guaranteed Sales and Service)
ii. Invoice Date: Today’s date
iii. Invoice: G1235
iv. Credit: 1250.00
v. Offset Account Type: Project
vi. Offset Account: 00000096
b.
Select the Project Tab
i. Enter the following:
1.
Category: Reference
2.
Sales Price: 1250.00
3.
Post the Journal
a.
From the Action Pane, select the Post
button.
You have now
completed this practice!
Practice 1.2: Create a Project
Expense Report
Scenario
As a Consultant
for Contoso Consulting you went onsite at Fun Times Club’s corporate
headquarters to start analyzing the client’s business processes to help them
design out how they’ll most effectively use their new ERP.
You made a one
day trip which it’s a 2 hour drive there and back (4 total) and you purchased
both breakfast and dinner on your corporate card. All of your expenses need to be booked to the
project and marked as billable as the client will reimburse Contoso for these
expenses.
Here is what
you know about the expense report you need to enter:
1.
Breakfast: $7.50
2.
Dinner: $22.50
3.
Mileage: 220 total miles
4.
Project: 00000096
High Level Steps
1.
Create a Project Expense Report
2.
Add lines to the Expense Report
3.
Submit the Expense Report
Detailed Steps
1.
Create an Expense Report
a.
Navigate to Expense Management > My Expenses >
Expense Reports.
b.
From the Action Pane, select
the +New Expense Report button.
c.
Select the OK button.
d.
Click Continue.
2.
Add lines to the Expense Report
a.
Enter the following to your
expense:
i. Expense Category: Meal
ii. Transaction Date: Today’s
Date
iii. Merchant: Julio’s Breakfast
(Type it in manually)
iv. Transaction Amount: $7.50
v. Project ID: 00000096
vi. Line Property: Billable
b.
Select the +Add Expense button to add another expense.
i. Enter the following to your expense:
1.
Expense Category: Meal
2.
Transaction Date: Today’s Date
3.
Merchant: Steve’s Diner
4.
Transaction Amount: $22.50
5.
Project ID: 00000096
6.
Line Property: Billable
c.
Select the +Add Expense button to add another expense.
i. Enter the following to your expense:
1.
Expense Category: Mileage
2.
Transaction Date: Today’s Date
3.
Mileage: 220
4.
Project ID: 00000096
5.
Line Property: Billable
3.
Submit the Expense Report
a.
From the Action Menu, select
the Workflow button > Submit.
i. Select the Submit button.
NOTE: Once the expense is approved and posted then
you’ll see the expenses on your Project.
You have
completed this practice!
Module 1:
Key Takeaways
o
Project Expense Overview
§ Documents that you can create a Project Expense using:
1.
Expense Report
2.
Accounts Payable Invoice
Journal
3.
Accounts Payable Invoice
4.
Project Expense Journal
5.
General Journal
6.
Invoice Register
o
Creating Project Expense
Transactions
§ Essential information on a project transaction:
1.
Date
2.
Project
3.
Employee
4.
Quantity/Cost Price (How Much)
5.
Sales Price, Currency, Tax Info
(Invoicing)
6.
Ledger Accounts
o
Create a Project Expense Report
§ Categories need to be in use by the Project and Expense Modules in
order to record a project expense through an Expense Report
o
Configure Project Expense
Policies
§ The Project Expense Policy is different than the Expense Policy in
the Expense Management Module.
§ You can have Project Expense Policies of Policy Type “Company” or
“Customer”.
1.
Company – you can apply the
policy to specific workers or cities across all projects.
2.
Customer – you can apply the
policy to specific customers/contracts/projects and to specific workers or
cities.
§ A Policy line requires a category.
§ Allowable Amount – Exceeding this amount throws a warning.
§ Maximum Amount – Exceeding this amount throws an error.
Test Your Knowledge Questions
1.
In which of the following
locations can you not enter a Project Expense?
a.
Accounts Payable Invoice
Journal
b.
Free Text Invoice
c.
General Journal
d.
Expense Report
2.
TRUE OR FALSE: To record a
project expense using an Accounts Payable Invoice Journal you must adjust the
Account Type or the Offset Account Type to Project.
a.
True
b.
False
3.
TRUE OR FALSE: To specify a
Project on an Expense Report’s expense you must select a category that has a
shared category, that can be used in both Project and Expense.
a.
True
b.
False
4.
If you define a Company Project
Expense Policy for the category Flights with an “Allowable Amount” equal to USD
500 and “Maximum Amount” equal to USD 1500, which option below represents what
will happen when you record an Expense Report expense for a flight of an amount
of USD 750?
a.
You will get a warning that you
are over the allowed amount.
b.
You will get an error that you
are over the allowed amount.
c.
No warning or error will
display.
