Fresh Projects

00:00: This guide explains how admin users can create and configure expense types within

00:04: Fresh Projects.

00:07: Click "Settings" to open the configuration options.

00:11: Click "Expense Types" to view and manage different expense type categories.

00:17: Click "New Expense Type" to start creating a new expense type category.

00:22: Enter a name for the new expense type.

00:27: Select whether this expense is one that would be incurred by an Employee or the

00:31: Company.

00:34: Employee expenses occur when an employee incurs a cost,

00:37: which is subsequently reimbursed to them.

00:41: Company expenses refer to the costs that a company directly incurs and pays to its

00:46: suppliers.

00:48: The Markup Method "Direct" indicates that the incurred expense is represented as a

00:53: currency value,

00:54: which is then marked up by a specified percentage.

00:58: When "Direct" is selected, the Markup Ratio percentage must be set.

01:04: The Markup Method "Unit" signifies that a specific quantity of items will be recorded

01:09: and priced according to a designated cost and billing rate.

01:14: When "Unit" is selected, the unit type must be specified.

01:18: For instance, use miles for a mileage-based expense or pages for a printing expense.

01:25: Set the cost rate and billing rate per unit.

01:29: Determine if this expense type should be set as Reimbursable to the client by

01:34: default.

01:35: This setting can always be overridden during the capture and approval of the expense

01:39: claim.

01:41: Click "Mandatory" to ensure that a receipt for proof of purchase is submitted with

01:46: this expense claim.

01:48: Confirm how VAT is captured for this expense type.

01:52: "Exclusive" indicates that you will enter the expense amount prior to VAT.

01:58: The VAT amount will then be calculated and recorded.

02:02: "Inclusive" indicates that you will enter the expense amount including VAT.

02:07: The VAT portion will be separated and recorded.

02:12: "Exempt" indicates that you will enter the expense amount with no VAT.

02:17: No VAT amount will be recorded.

02:20: Confirm if VAT should always be auto calculated based on the VAT settings.

02:26: This option should always be set if integrating Fresh Projects with your accounting

02:30: software.

02:33: The "Editable" option enables a manual override of the VAT rate.

02:37: However,

02:38: this feature cannot be utilized when integrating Fresh Projects with your accounting

02:42: software.

02:45: Mark how VAT is recovered from the client.

02:48: "Calculated" indicates that when this expense type is reimbursed on a client invoice,

02:53: VAT will be added.

02:56: "Excluded" indicates that when this expense is reimbursed on a client invoice,

03:00: VAT will not be added.

03:04: Click "Save expense type" to save all settings and create the new expense type.

03:10: You have successfully created and configured a new expense type.