Differentiating between Labor and Non-Labor Expenses

Kim_Straub · ‎02-04-2024

Using the Planning Console of the SPM Module under the Financials tab, I am trying to differentiate between Labor and Non-Labor expenses. The only way it has been separated currently, is by using Category field. Is this possible?

Namita Mishra · ‎02-04-2024

Hi @Kim_Straub ,

Thanks for sharing the screenshot.

You may want to have a look at New project Workspace -> Select Financials, refer below screenshot

In this Financials UI, you can group by 'Cost Type', refer below screenshot.

The above screenshot is at the project level..

In case you would like to see this information for the planning items at the portfolio plan level.... you can use the Financial Planning at the Strategy planning workspace. Here is the doc link

Please mark this answer as correct, in case your query is resolved.

Thank You!

Namita Mishra

View solution in original post

Kim_Straub · ‎02-05-2024

Thanks Namita,

I wasn't aware it was accessible in portfolio but was an easy find.

Specific steps for anyone using Strategic Planning Workspace:

Open the Portfolio Plan, within the details tab select 'Cost Plans'

Create New Cost Plan

See Mandatory fields (Name, Currency, Fiscal Periods, Cost type)

- Cost Type options include: External labor capex/opex, Hardware Capex/opex, Labor Capex/opex, other capex/opex, Software capex/opex

To configure additional non labor expense you may select other capex or opex, then select the information icon within the 'Cost Type' field for Other to open the Cost Type Definition record.

In this record, you will see the fields Name, GI Account, and Expense Type. Select the information Icon in the GI Account field to view the General Ledgers Accounts form.

On this form, you may adjust expense type, or add a specific name to the type of "other" expense if it is non-labor or not included in the provided out of box expense types. You may also leave a description. Save to update. Check the associate Portfolio's cost plan list to verify that the new cost plan has been added.