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Expense codes are created in FocalPoint software to be used when you are relieving inventory or creating credit adjustments in A/R. For times when order processing procedures are being bypassed, it is necessary to be able to offset credits (decreases in assets like A/R and inventory accounts, or increases in revenue accounts) with debits (expenses or otherwise).
Fields
Expense Code ID
This is an inaccessible internal number.
Description
Enter the description for the expense code.
General Ledger Account Number
Represents the general ledger number set up in the General Ledger Accounts within FocalPoint that is associated with this expense code.
Inventory
Because expense codes can be used to expense items and are also used for A/R credit adjustments, you may set up some expense codes that may not be appropriate for selection when expensing inventory. If you wish to allow an expense code to be used for expensing inventory, check this check box.
Write Off
One expense code is used as the designated option for finance charge write offs. Select one expense code for this purpose by checking the associated check box.
