Manage Expense Reclasses

Owned by Nancy Cohn (Deactivated)
Last updated: Mar 07, 2024
3 min read

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: 

  1. In Accounting Center, in the left navigation pane, click Transactions > Expenses > Expense Reclass > Create Expense Reclass.
    You see the Create Expense Reclass panel.

  2. Complete the options in upper section of the Create Expense Reclass panel.
    All fields, with the exception of the Ledger Notes field, are required.

  3. 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.

  4. 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.

  5. Click Submit.

Create Expense Reclass Panel Options

The following are the options in the Create Expense Reclass panel.

Option

Tag

Description

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: 

  • Balance Sheet

  • Income Statement

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 with 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: 

  • Debit

  • Credit

List Expense Reclass Activity

In the List Expense Reclass Activity panel, you can view expense amounts reclassified between accounts for an entity. 

To list expense reclass activity: 

  1. In Accounting Center, in the left navigation pane, click Transactions > Expenses > Expense Reclass > List Expense Reclass Activity.
    You see the List Expense Reclass Activity panel.

  2. In the Entity ID, Entity Name, and Accounting Basis fields, specify the unique entity identifier, entity name, and accounting basis for the entity/basis with activity you want to view. 

  3. In the Share Class field, specify the share class with activity you want to view. 
    Otherwise, leave the field blank to view activity for all share classes. 

  4. In the Ledger Account field, specify the account number of the expense account with activity you want to view. 
    Otherwise, leave the field blank to view activity for all expense accounts. 

  5. In the Query Based On list, select the type of date to use for selecting activity to view.
    Options include: 
    - Accounting Date (Default) 
    - Post Date
    - Month End Date

  6. In the Report State Date and Report End Date, enter the beginning and ending date for activity you want to view.

  7. In the Security Information area, you can identify security information if you want to view activity for a specify security.
    You can specify a value for the Cross Reference Type, Cross Reference ID, Issue Name, and/or Ticker fields.

  8. Click Submit.
    You see a row for each expense reclass entry that met your criteria in the Show All tab.Â