Expense types in asset management

Expense categories are used for grouping and filtering expense types. You can have a separate category and expense types for assets. The category can be used to create expense types that you can choose on purchase requisitions when ordering or purchasing assets. For more information, see Set up expense types and expense types categories.

Automatically create expense types

On the Fixed Asset Card page, you can automatically create expense types.

Automatic expense type setup

Before you can automatically create expense types, you must perform some setup.

To set up automatic expense type creation

1. Choose , enter fixed asset setup, and then choose the related link.

   The Fixed Asset Setup page opens.

2. On the Asset Management FastTab, in Expense Type Category, specify the default Expense Type Category to be specified on the expense type when an expense type is automatically created.

3. Choose , enter fa posting groups, and then choose the related link.

   The FA Posting Groups page opens.

4. For the one or more posting groups that are to be assigned to fixed assets and for which you want to automatically create expense types, in the Expense Type Account column, specify the appropriate general ledger account.

5. Choose , enter fixed assets, and then choose the related link.

   The Fixed Assets page opens.

6. For each fixed asset for which you want to automatically create an expense type, perform the following steps:

   1. Select the fixed asset, and then on the action bar, choose Manage > Edit.
      The Fixed Asset Card page opens.
   2. On the Depreciation Book FastTab, in Posting Group, assign the appropriate posting group that you just set up.

To automatically create an expense type

1. Choose , enter fixed assets, and then choose the related link.

   The Fixed Assets page opens.

2. Select the fixed asset for which you want to create an expense type, and then on the action bar, choose Manage > View.

   The Fixed Asset Card page opens.

3. On the action bar, choose Actions > Create Expense Type.

   A dialog box appears and displays a message indicating the expense type has been created.

   When an expense type is automatically created, the Expense G/L Account No. is automatically populated with the value from Expense Type Account for the fixed asset posting group that is assigned to the fixed asset. Also, the Expense Type Category on the expense type is automatically populated with the Expense Type Category that is specified on the Fixed Asset Setup page.

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