Expense transactions are a form of miscellaneous Inventory transaction. Expense transactions can be used to remove Items from Inventory, while assigning the transactions to preset Expense Categories (e.g., Trade Show Expense). To remove Items from Inventory and assign the transaction to an Expense Category, select the "Expense" option. The following screen will appear:
When entering an Expense transaction, you are presented with the following options:
- Transaction Date
Specify the date you want the transaction to be posted to the General Ledger. The current day's date will display by default.
- Item Number
Enter the Item Number of the Item you want to enter an Expense transaction for.
- UOM
Inventory Unit of Measure.
- Site
Specify Site where the Item Site for the Expense transaction is located.
- Quantity
Enter the quantity of Inventory UOM you want to enter an Expense transaction for. The number entered will appear as a deduction in the "After" column. Non-netable Quantity on Hand is not included in these values.
- Document #
Creates a user-defined reference for the Expense transaction. The Document reference will be posted with the General Ledger (G/L) transaction record when the Expense transaction is generated. This field may be used for internal tracking and auditing purposes.
- Expense Category
Specify the Expense Category you want to assign the Expense transaction to.
- Notes
This is a scrolling text field with word-wrapping for entering Comments related to the Expense transaction.
To the far right of the screen, the following buttons are available:
- CANCEL
Closes the screen without posting an Expense transaction, returning you to the application desktop.
- POST
Posts the Expense transaction. Issues an Expense transaction and decrements Quantity on Hand. Additional steps will be necessary if the specified Item is stored in multiple Locations.