| Cost Types | 
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The Cost Types option allows you to add, change or delete Cost Type descriptions.
Cost Types are optional and can be used to group similar types of costs into one "category" of costs. Categorizing costs makes it possible to track billed and paid amounts by cost type. For example, you may want to assign all photocopy costs for the firm to one Cost Type and all long distance phone charges to another Cost Type. Each cost transaction code is assigned a Cost Type in the Transaction Code file. Cost Type descriptions do not have to be entered in order to assign a Cost Type to a transaction code.
There are 20 Cost Types that can be defined: 10 for expenses (0-9) and 10 for advances (0-9). Each description can have a maximum of 20 characters. The corresponding code for the Cost Type description will be used on reports that include Cost Type information. Examples of Cost Types are: photocopy expenses, telephone expenses, reimbursable client expenses, etc.
Reports that include Cost Type Information: The Detail Receipt Allocation Report will show amounts billed and paid for each Cost Type. The Allocated Payments Report and Cash Receipts report can optionally show allocated payment information for each Cost Type. The Client Ledger, Accounts Receivable by Invoice Report and Transaction File List can also include amounts billed by Cost Type.
Note: If a Cost Type field is blank, and a Tcode uses that Cost Type, reports will display the Cost Type information as CE# (Cost Expense) or CA# (Cost Advance) where # represents the Cost Type number. For example, if the Cost Type Adv 8 field is blank, then “CA8” will be displayed on the report.
| See also: | Toolbar Buttons |
| Cost Type Description List |
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