With the Expense Reporting functionality in Forecast, users can submit the cost, price, and markup directly onto the project budgets. Once expense categories are configured by Administrators, users can add expenses directly to any project.
Some use cases for submitting an expense could be for a dinner you host with your client, some equipment you needed to rent, or something you purchase on behalf of your client or directly as part of the project. Once the expenses are submitted, they must be approved by at least a Controller before they're added to the project budget.
This article includes:
Adding an expense item
When adding an expense you can specify the cost, price, and markup of the expense and the project it should be assigned to. In addition, you can attach files to them (e.g. a receipt, proof of payment, etc). Expense items are only linked to projects, instead of tasks, and thus will only show up on the project budget.
To be able to add an expense item to a project you will first require the appropriate permission. Managers, Controllers, and Admins can add expense items to projects in your Forecast account.
There are two ways to add an expense item, from the 'My Expenses' tab and the Budget page of a project.
Adding an expense item through the Budget page
- Click on the Budget tab from within a project.
- Once on the budget tab, click on Expenses.
- Click on New Expense. This will trigger the expense pop-up module.
- Fill in the mandatory fields of the expense item and click Add.
Adding an expense item through 'My Expenses'
The 'My Expenses' page proves you with a quick overview of all the expenses that you have created across your portfolio of projects and it informs you which of them are Billable and if they have been Approved. To create an expense item from this page:
- Click on My Expenses from the My Tasks page.
- Once on the My Expenses page click on New Expense Item.
- Once you fill all of the mandatory fields in the pop-up module click on Add.
Submitting your expenses details
To create an expense item you have to fill in, at least, the mandatory fields present in the expense items pop-up module. The table below explains the fields, whether they are mandatory or optional and how they affect the expense item.
|Field Name||Required?||Additional Information|
|Expense Name||Mandatory||Give your expense a name|
|Date||Mandatory||Choose the date when this expense took place.|
|Category||Mandatory||Decide under which predefined expense category this expense item falls under.|
|Project||Mandatory||Decide which project this expense item belongs to. If you are creating from the Budget page of a project, it will automatically select the project you are viewing.|
|Person||Mandatory||Assign this expense item to a person. If you are creating it from 'My Expenses' it will automatically be assigned to you.|
|Phase||Optional||Decide whether you wish to associate the expense item with a Phase in your project or not. Available only when creating an expense through the Budget page.|
|Mandatory||Register the quantity of the expense.|
|Optional||Register the expenses cost.|
|This expense is billable||Optional||Decide whether this expense should be billable. This is available as an option for managers, controllers, and admins.|
|Part of plan budget||Optional||Decide whether this expense should be part of the plan. This is available as an option for managers, controllers, and admins.|
|This expense is approved||Optional||Decide whether this expense should be approved. This is available as an option for managers, controllers, and admins.|