Expense Codes Tab of the Expense Codes Form

Use the Expense Codes tab to create an expense code, specify a description, and select a type.

If your firm uses multiple companies, after you set up expense codes on the Expense Codes tab, you must associate the expense codes with each of your companies on the Expense Codes Accounting tab.

With multiple companies, only the Expense Code, Description, and Expense Code Type fields display on the Expense Codes tab.

Contents

Field	Description
Expense Code	Enter a code by which to identify this expense code throughout Vantagepoint.
Description	Enter a description for this expense code. For ease of use, the description should match the description of the general ledger accounts entered for this expense code.
Expense Code Type	Click the drop-down menu in this field to select Consultant or Other. You set up separate expense codes for consultant expenses and other (non-consultant) expenses. For example, consultant expenses might be part of the fee (not billable), but other expenses might be billable to the client. Assigning Consultant or Other to each expense code lets Vantagepoint know which bill by default value to use from the Projects hub. On the Accounting tab of the Projects hub in the Bill by Default section, you determine whether or not consultant type and other type expense codes are billable for the project. Expense code types are intended to correspond with the consultant and non-consultant expense account ranges defined on the Accounts settings form in Settings > General Ledger > Chart of Accounts, but it is not required.
Reimbursable Account	Click in this field and use the Account lookup to select the reimbursable general ledger account to associate with this expense code. Only accounts in the range of reimbursable accounts as defined on the Accounts settings form in Settings > General Ledger > Chart of Accounts are included in the lookup list. This account is required if you do not select the Account Editable check box in this grid. The reimbursable account from a vendor's default expense code prefills for an AP voucher or AP disbursement when the project entered for the voucher or disbursement has the following setup on the Accounting tab in the Projects hub: The Charge Type is Regular. The AP Bill by Default setting is Yes.
Direct Account	Click in this field and use the Account lookup to select the direct general ledger account to associate with this expense code. Only accounts in the range of direct accounts as defined on the Accounts settings form are included in the lookup list. This account is required if you do not select the Account Editable check box in this grid. The direct account from a vendor's default expense code prefills for an AP voucher or AP disbursement when the project entered for the voucher or disbursement has the following setup on the Accounting tab in the Projects hub. The Charge Type is Regular. The AP Bill by Default setting is No.
Overhead Account	Click in this field and use the Account lookup to select the overhead general ledger account to associate with this expense code. This account is required if you do not select the Account Editable check box in this grid. The overhead account from a vendor's default expense code prefills for an AP voucher or AP disbursement when the project for the voucher or disbursement has an overhead charge type.
Promotional Account	Click in this field and use the Account lookup to select the promotional general ledger account to associate with this expense code. This account is required if you do not select the Account Editable check box in this grid. The promotional account from a vendor's default expense code prefills for an AP voucher or AP disbursement when the project for the voucher or disbursement has a promotional charge type.
Bill by Default	When a project has a regular charge type, the bill by default setting determines whether the reimbursable or direct expense account from a vendor's default expense code is used for AP voucher and AP disbursement entry. The Bill by Default field for the expense code is intended to be used when you first turn on the accounts payable expense code feature. It enables you to start using the feature before you enter the bill by default settings for each project in the Projects hub. By default, the Bill by Default check box for expense codes is selected, meaning the expense code is reimbursable (billable to the client). When unselected, the expense code is direct (not billable to the client). Because there are two types of expense codes, consultants and other, there are Consultants and Other Expenses fields in the Bill by Default section on the Accounting tab of the Projects hub. The default setting for both of these is Expense Code. This means that Vantagepoint looks at the bill by default setting on the expense code instead of the project for consultant type and other type expense codes. Thus, you can use expense codes quickly after setting up expense codes, without setting up the bill by default setting for each project. If you plan to use the Expense Code feature before setting up the bill by default settings for each project, select the bill by default setting for the expense code that is typical for projects. If you plan to enter the bill by default setting for each project before using the expense code feature, you can ignore this field, and select Yes or No for the Consultants and Other Expenses fields in the Bill by Default section of the Projects hub for each project.
Account Editable	Select this check box if you want to allow users to change the expense account that prefills per a vendor's default expense code for AP voucher or AP disbursement entry. If you do not want users to edit the prefilled expense account, leave this check box cleared.