Expense types categorize purchases, mileage, and other costs entered on expense reports.

The Expense Type screen allows you to create new or modify existing Expense Types. An Expense Type provides a method of categorizing expenses (i.e. hotel, airline tickets, client lunches, rental car, miles, etc.). Expense Types are required for expense item entry on expense reports.

Options and field descriptions #

Name – A name for the Expense Type.

Accounting ID – This optional field simplifies the exporting of data to an accounting package. When supplied, the Expense ID acts as a code or cross-reference to related data located within an external accounting package.

Is this Mileage? – Indicate whether or not this Expense Type will be for mileage driven and tracked by an employee. When selected, a 'Rate Per Mile' is required:

Rate Per Mile – Provide the rate that your company will reimburse per mile. Use Update Expenses to refresh mileage rates and financial totals for saved expense items in a date range. Hard-locked and submitted expense reports are not modified. Select Include approved expense reports when approved reports should be included.

Is this quantity based? – Select this option when MindSalt should calculate an expense amount from a quantity and a rate. Mileage and quantity are separate modes and cannot both be enabled for the same expense type.

Unit Label – Enter the name of the unit being counted, such as items, units, or days.

Rate – Enter the default rate for one unit. When someone records the expense, MindSalt multiplies the quantity by the applicable rate to calculate the amount. For example, an Equipment rental expense type with the unit days and a rate of $30.00 produces an amount of $90.00 when the quantity is 3.

Update expenses – Use this option to refresh quantity rates and financial totals for saved expense items in a date range. Hard-locked and submitted expense reports are not modified. Select Include approved expense reports when approved reports should be included.

Is there a Billing Markup? – Indicate whether or not there is a billing markup. When selected, a percentage markup will be applied to the billing amount for the expense item.

Percent Markup – Enter the percent markup to be applied to the billing amount for the expense item. For example, a 20% markup on an item entered at $50 will be billed to the client at $60. Update Expenses – Update the billing markup for expense items that already exist in the system. Only unlocked or unsubmitted expense items can be updated.

Creating an Expense Type #

1. Browse to Admin, select Expenses, and then select Expense Types.
2. Select New to create a new expense type or select an existing expense type from the list.
3. Provide a name for the expense type.
4. For a quantity-based type, select Is this quantity based?, enter the Unit Label, and enter the default Rate.
5. Provide any additional data in the remaining optional fields.
6. Select Save.

Active and archived records #

MindSalt uses Active and Archived. Archived records stay in your account but do not appear in active lists. To archive a record, open its three-dot menu and select Archive. When a record can be copied, Copy is in the same menu.