Expenses & Advances

Tabs3 gives you the option to separate costs into two classifications: client expenses and cost advances. Tabs3 refers to client expenses and cost advances as expenses and advances. Client expenses are costs that are incurred by the firm without a direct cash outlay. Examples of client expenses are photocopy expenses, document preparation, per diems, etc. Client expenses are also known as "soft" costs or "indirect" costs. Cost advances are costs that are incurred by the firm for a specific cost or price. Examples of cost advances include witness fees, medical costs, filing fees, etc. Cost advances are also known as "hard" costs or "direct" costs. Some costs such as phone calls and courier charges may be categorized as either expenses or advances depending how the firm wants to keep track of these. The term "costs" refers to both expenses and advances inclusively. If you do not want to separate your costs, you can simply use expenses only.

Expenses and Advances are defined by specifying the appropriate Transaction Type when the transaction code is defined.

Tabs3 also gives you the ability to further classify expenses and advances using the Cost Type field.