WRITERS NOTE: this page is NEW to 2017 and needs review
You can reclassify expense amounts between accounts, and can view expense reclass activity.
Create an Expense Reclass
In the Create Expense Reclass panel, you can reclassify expense amounts between accounts.
When you reclassify expense amounts between accounts, you must balance the reclass entries. Ensure you input the same dollar amount for both accounts, and ensure that you are debiting one account and crediting another account.
To create an expense reclass:
- In Accounting Center, in the left navigation pane, click Transactions > Expenses > Expense Reclass > Create Expense Reclass.
You see the Create Expense Reclass panel. - Complete the options in upper section of the Create Expense Reclass panel.
All fields, with the exception of the Ledger Notes field, are required. - For each expense account that you are reclassifying, complete the information in the grid at the bottom of the panel.
By default, you see two blank rows. Use this area of the panel to enter the expense account name, reclass amount, fee currency, and the direction of the reclass. - You can update additional accounts using the pane that appears on the bottom of the panel, as follows:
– Click the lower pane.
– Right-click and select Add Rows.
– Enter the number of rows you want to add in the Enter Rows Count dialog box and click OK. You need to add a row for each additional expense account you want to reclassify.
– Complete the fields on each row you added. - Click Submit.
Create Expense Reclass Panel Options
The following are the options in the Create Expense Reclass panel.
Option | Tag | Description |
|---|---|---|
Reclass Type | ||
| Reclass Type | 990 | Indicates whether the reclass applies to an expense account that affects the Balance Sheet or Income Statement. Options include:
|
| Entity Information | ||
Entity ID | 1163 | Specifies the entity identifier for the expense with an amount that you want to reclassify. |
Entity Name | 1164 | Specifies the entity name. |
Share Class | 34 | Specifies the share class of the expense wtih an amount that you want to reclassify. |
| Effective Date | 35 | Specifies the effective date for the reclass. |
| Accounting Date | 36 | Specifies the accounting date for the reclass. |
| Monthly Accounting Date | 4733 | Displays the month end accounting date. |
| Ledger Notes | 1308 | Allows you to define the reason for the reclass. |
Expense Account Name | 1624 | Specifies the name of the expense account with an amount that you want to reclassify. |
Amount | 903 | Specifies the amount that you want to reclassify for the corresponding expense account. |
| Fee Currency | 85 | Specifies the local currency for the expense you want to reclassify. |
Debit or Credit | 902 | Indicates the direction of the reclass for the corresponding amount. Options include:
|
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