An Expense Category is used to classify and manage expense transactions, such as travel, meals, and office supplies. Expense Categories help in organizing expenses for reporting, budgeting, and accounting purposes.

Creating an Expense Category

• Navigate to the Expense Categories Page:
• Go to Setup > Accounting > Expense Categories > New.
• Fill Out the Expense Category Form:
• Name: Enter a name for the expense category.
• Expense Account: Select the expense account that this category will post to.
• Description: Provide a description of the expense category (optional).
• Subsidiary: Select the subsidiary if using OneWorld (optional).
• Rate: If applicable, enter a default rate for this expense category.
• Active: Check this box to make the category active.
• Using Expense Categories
• Expense Reports: When employees create expense reports, they can select from the list of active expense categories to classify their expenses.
• Vendor Bills: Expense categories can also be used when entering vendor bills to ensure expenses are properly categorized.
• Approvals and Workflows: Expense categories can be used in approval workflows to ensure expenses are reviewed and approved according to company policy.