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Are expenses liabilities code#

When you run the PRC: Interface Expense Reports to Payables process, Oracle Projects interfaces expense report costs to the Oracle Payables Invoice Import feature, and uses a transaction to credit an accounts payable liability account. Segment Value Source Segment Value Lookup SetĮnable The All Expenses Transaction and Assign Rules:įunction Name: Expense Report Cost AccountĮxpense Report Liability Account Function

Are expenses liabilities code#

Fremont uses the lookup set to define a rule to supply an account code for the Account segment of its Accounting Flexfield.įremont uses existing rules to supply values for the Company and Cost Center segments of its Accounting Flexfield.ĭescription Map the expenditure type for expense report items to the appropriate expense accountĭefine a Rule to Determine Account Segment Value:ĭescription Determine expense report cost account based on the expenditure type To implement the Expense Report Cost Account function, Fremont defines a lookup set to map expenditure types to each of its three expense accounts.

Therefore, rather than enabling the six very specific transactions, Fremont's accounting department enables just the general All Expenses transaction.įremont Corporation uses three accounts to record expense report costs:

Public, Non-Billable Expenses Fremont posts expense report costs to the project-managing organization's cost center, and relies upon expenditure type to determine which account to debit.Īlthough the Expense Report Cost Account function consists of transactions that distinguish between public and private and between billable and non-billable expenses, Fremont does not differentiate between any of these characteristics in its chart of accounts.

The Expense Report Cost Account function consists of the following transactions: When you run the PRC: Distribute Expense Reports Costs process, Oracle Projects calculates and distributes costs originating from expense reports, and uses the Expense Report Cost Account transactions to determine which expense account to debit for expense report costs. Accounting for Expense Report Costs Expense Report Cost Account Function