Tracking Expenses with SuiteProcurement SuiteApp
The SuiteProcurement SuiteApp includes Default SuiteProcurement Expense Category to record expenses for SuiteProcurement purchases.
You can select a specific account to post expenses for this category using the following steps.
To select an expense account for the default SuiteProcurement expense category:
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Go to Setup > Accounting > Setup Tasks > Expense Categories.
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Beside Default SuiteProcurement Expense Category, click Edit.
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In the Expense Account field, select an account to post expense of this default category to the account.
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Click Save.
Expense categories are crucial for accurate financial tracking. For example, you may want to set up specific categories like Shipping Charges and Sales Taxes to ensure these expenses are correctly tracked for each SuiteProcurement purchase.
The following procedure provide information about the steps to create a expense category for the different expense types.
To create a new expense category for an expense type:
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Go to Setup > Accounting > Setup Tasks > Expense Categories > New.
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In the Name field, enter a name for the expense category.
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In the Expense Account field, select an account to post expenses of this particular category to the account.
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Check the Include for SuiteProcurement Purchases box to include this expense category for SuiteProcurement purchases.
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In the SuiteProcurement Expense Type field, select an expense type.
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Click Save.