Setup Expense Recognition

Tobias Stenbråten Updated by Tobias Stenbråten

General Setup

The General Setup section controls the core configuration for expense recognition, including the journal used for posting, transaction categories, and rounding rules.

Configuration Fields

Field

Description

Journal name

The daily journal used to post expense recognition transactions. Filters between daily journal names created.

Category

Category used for posting the expense recognition transactions

Prefix

Text used for the journal posting description

Rounding rule type

Type of rounding used when more than two decimals are present. Suggested setup is Normal.

Use a dedicated journal for expense recognition and name it so it does not appear at the top of the list in other processes.

Categories

The Categories section serves two important purposes in the expense recognition process:

  1. Expense Recognition Inclusion: Categories in this list will be included when the Expense Recognition button is pressed on the Cepheo Project Statement. This allows project managers and controllers to view projects with and without journals posted via the Expense Recognition wizard.
  2. Beginning Balance Designation: If the IB (Initial Balance) field is marked as Yes for a particular category, it will be regarded as beginning balance and will show on the Expense Recognition overview as such.
The IB setting determines which categories are treated as beginning balance entries in the Expense Recognition overview.

Distribution

The Distribution section displays the project header or single project (if completed excluding subprojects) where you have completed the wizard and posted an expense recognition.

Transaction Log

The Transaction Log displays the actual transactions per ledger or fixed asset transaction, enabling the wizard to show previous recognitions on the same asset or ledger account.

How did we do?

Expense Recognition Wizard

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