13.2. Understanding OfficeClip Expenses

The OfficeClip Expenses component is used to track a user's official expenses. The expense sheet aids in calculating the expenditure incurred for project related activities and helps in billing these activities accurately. When integrated with the timesheet component, this component helps the organization get a clear income and expenditure graph, as well as the profitability graph.

The following are the important aspects of the expense sheets:

Users enter the expenses for a project and expense type. An expense type can either be billable or non-billable.
If the details required check box has been enabled by the administrator, then the user has to provide the details of the expense type selected.
The default currency is set to ensure that all the transactions are done through a single currency type.
Completed expenses have to be submitted for approval through the routing method selected by the administrator. Routing rules can be configured separately for each user.

	Note
	For users to be able to use expenses, the projects, expense types, default currency, and customers need to be defined.

13.2.1. Currency

A default currency can be set for a particular group. This helps the user to customize the expenses component to his/her organizational standards.

	Warning
	Once the default currency is set, it cannot be changed and all existing expense reports will be set to the default currency.