Articles on: Expense

Providing Expense Input Data

You can provide contract and other cost-related data in RevRec using the following ways:

Manual input of data using the Sale Order UI.
Bulk upload of data using the Sync UI.

Manual Input of Expense Data

You can enter the expense data directly in RevRec via the application UI. Follow the steps below to add new expense data on your RevRec site:

Click the Expense menu item on the left panel.
The Expense page displays two tabs - Contract Cost and Other Cost.

You can navigate to either of these tabs to view data already added.
To add a new Contract Cost,

Click Sales Order on the left panel and open a sales order record to which you are adding the expense.
Click the Lock icon to edit the sales order record, and navigate to the Expense section to add a new expense.

Click Save Changes.

To add a new Other Cost,

Click Expense on the left panel and navigate to the Other Costs tab.
By default, you can only view existing other costs. Click the Lock icon to add or update other costs. Once the screen is unlocked, click +Add New Other Cost and specify details as displayed in the screenshot.

You can add additional items by clicking +Add New Expense Item.

Bulk Upload of Expense Data

You can create a spreadsheet using the below fields, and upload the same spreadsheet into RevRec using the Sync Job. Once the file is ready to be uploaded, follow the steps below to carry out a bulk upload:

Login to your RevRec environment and click Sync.
Click the Import Data icon, specify a Job Name for the upload job, and drag and drop your file.
Click Import for RevRec to process your file.

Order NumberOptionalA number is used to identify the sale order or contract.
Product CodeOptionalA code is used in RevRec to identify the product.
Reference NumberOptionalThis is a unique identifier for the record.
Expense CodeRequiredA code is used in RevRec to identify a certain cost.
Expense DateRequiredThe date when the expense occurred or was recorded in the user system of record.
Amortization Start DateOptionalThe date on which the expense amortization schedule will start. If provided, this field overrides the date type defined in rules.
Amortization End DateOptionalThe date on which the expense amortization schedule will end. If provided, this field overrides the date type defined in rules.
Expense AmountRequiredAn amount paid for the expense incurred.
TermOptionalThe amortization term is the duration for which the user wants to amortize the expense. The term is defined in months in the system. If a term is provided, an end date is not required. This field overrides the term defined in rules.
ClassOptionalClass of the expense.
DepartmentOptionalDepartment to which expense relates.
LocationOptionalOffice location to which expense belongs.
Sales PersonOptionalPerson to whom this expense is paid.

After Upload, the file is processed and analyzed for any error. Once the processing is complete, the status column on the page will show Success.

You can view expenses from the Sale Order UI or the Expense UI.

Note: You can also provide additional data related to the expense as a custom field. Contact to avail this feature. Once set up, you can use these custom fields on the reports.

Updated on: 06/07/2022

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