Expense Types

[vineethnair]

Hello,

My Organization needs to add different cost plans based like. for e.g GIS Capex\GIS Opex\Facilities Opex\Facilities Capex etc and each one of these could have individual cost such as hardware, software etc.

Should GIS Capex or GIS Capex be different Cost Types under Cost Type Definitions or they should be Expense Types ? Currently, the expense types available are Capex and Opex.

Thanks,

Vineeth.

[Scott Wallace1 · Accepted solution]

Hi Vineeth,

I would keep Expense Type as CapEx and OpEx, and add new Cost Types to support each cost type you describe.   I would not suggest adding new Expense Types.

Eg: Expense Type

CapEx

  GIS Software — CapEx

  GIS Hardware - CapEx

  Facilities — CapEx

OpEx

  GIS Software — OpEx

  GIS Hardware - OpEx

  Facilities - OpEx

[Kannan Nair]

I understand that this is an old post. But we also have a similar requirement. We are able to add a new Cost Type, however the requirement is to create a new type for Budget like the existing Capex and Opex. As we could see that the Capex and Opex are attributes used extensively in PPM such as Investment Portal, Scenario planning, what is the best method to add a new expense type.

[Vinay3]

Hi @Kannan Nair , In Xanadu release, new capability is introduced in SPM to be able to allocate budget by Cost types. 

Users would also be able to do track financials by cost type in the new portfolio financials views and scenario planning capabilities which will be added as future enhancements to Strategic planning workspace.

If you are still in the process to implement this requirement, I recommend checking out the new capability.