Create an expense line

  • Release version: Xanadu
  • Updated August 1, 2024
  • 1 minute to read

    • A project expense line is cost associated with a specific source, such as a user, fixed asset, or a CI. Expense lines are part of project cost plans.

    Before you begin

    Role required: it_project_manager

    Application required: Project Portfolio Management with Financials

    About this task

    Only processed expense lines are considered for projects, project tasks, and demands. You can create multiple expense lines for a project or demand.

    Procedure

    1. Open the project form.
    2. In the related lists, click Cost Plans.
    3. Right-click on a cost plan.
    4. Click Create Expense Line.
    5. Fill out the expense line form (see table).
    6. Click Submit.
      Table 1. Expense line form fields
      Field Description
      Number Auto generated number.
      Amount Select a currency type and enter the expense cost.
      Date Date of the expense generated.
      Process date Date on which the expense line was processed.
      Source ID Record that generated the associated cost.
      State State of the expense line. The state can be Pending or Processed. The cost roll-up happens only if the expense line is processed.
      Cost plan Name of the cost plan against which you want to create the expense line.
      Summary type Select the category you want to group the expense under.
      Cost type Select the cost type.
      Expense type Select Capex for a capital expense or Opex for an operating expense.
      Short description Enter a short description of the expense type.
      Sources Select the records for the sources of the expense line. These sources include:
      • Assets
      • Fixed assets
      • Contracts
      • Users
      • Configuration items
      • Tasks
      • Cost centers
      Note:
      • Imported processed expense lines are not rolled up to the Total actual cost field in Cost Plans.
      • If you change the Amount of a Pending expense line and change the state to Processed, the latest value is captured in expense line and the same is rolled up to Total actual costs in Cost Plans.

    Result

    Once the expense line is processed, the actual amount incurred becomes part of the cost plan.

    The actual amount spent is recorded against the project cost plan under the appropriate expense type: Capex or Opex. Not providing a cost plan reference when creating an expense line, the actual cost is recorded at the project level in the cost plan related list.

    If you create an expense line without populating the Cost Plan field, a system-generated cost plans is created.