Expense Settings

Owned by Amanda Thomas
Last updated: Jun 28, 2019
5 min read



Expense Codes are broken into five sections:  Expense Codes, Expense Groups, Revenue Codes, Capitalization Codes and Depreciation Configurations.



 

Expense Codes

Expense codes are simply the items your company tracks costs for.  They are simply set up with just a unique code, a description, an Expense Type, and relation to the required companies and industries.

  • Code: The corresponding Expense Code.  This code must be unique.

  • Description: Description of the Expense Code.

  • Expense Type: Sets up what Expense Type this code is related to.

  • Relations: Sets the Company/Divisions and the Industry Types the Expense Codes are associated with.



If you add a new expense code, please make sure to add it to the expense transfer rules in System Settings as well as adding it to the capitalization codes so it gets included in cap (next Section).

  

Capitalization Codes

Capitalization Codes allow the user to select what expense items will be capitalized and how.  For example, all the various costs related to raising chicks can be grouped into a Capitalization Code named “Chick Costs”.  The user could then associate all expense fields related soley to raising chicks and group them together.  Users can transfer all expenses but not choose to capitalize all of them.

Details

  • Code: The corresponding Capitalization Code. This code must be unique.

  • Description: Description of the Capitalization Code.

  • Cap Cycle: What cycle is this Capitalization code associated with.

  • Relations: Sets the Company/Divisions and the Industry Types the Capitalization Codes are associated with.

Capitalized Expenses

  • Effective Date:  Select the Effective Date the expenses will be capitalized.

  • Cap Feed Expense: Select whether feed expenses will be capitalized when delivered or when consumed.

  • Capitalization Expense Codes:  Select Expense Codes to be utilized for the capitalization.

 

Revenue Codes

Revenue codes are the items your company tracks revenue dollars for.  They are simply set up with a unique code, a description, an Revenue Type, (See System Types for set up) and relation to the required companies and industries.  If the revenue is related to Egg Grade out deductions you can determine which egg sizes to exclude from Grade Out Valuation calculations.



  • Code: The corresponding Revenue Code.  This code must be unique.

  • Description: Description of the Revenue Code.

  • Expense Type: Sets up what Revenue Type this code is related to.

  • Relations: Sets the Company/Divisions and the Industry Types the Revenue Codes are associated with.

More information on the Egg Grade Deduction Settings can be found in the Egg Grade-out Valuation setting documentation: Revenue Codes

Expense Groups

Because Expense Codes can be broken down into a large amount of detail, having Expense Groups will prove to be very useful.  This will allow various expense items to be grouped together and subtotaled for reporting purposes.

  • Code: A corresponding Code for Expense Groups.   This code must be unique.

  • Description: The description of the Expense Group.

  • Industry Type: The Industry Type the Expense Group is associated with.

  • Grouping: Choose the expense Codes that should be included within the expense group from the list on the left and Add them using the right arrow.  Remove Expenses by selecting them on the right and clicking the left arrow.

 

Depreciation Configuration 

The Depreciation Configuration allows a user to set up the Depreciation Rules.

Details

  • Rule Code: A corresponding Code for a Depreciation Rule.  This code must be unique.

  • Rule Description: A description of the Depreciation Rule.

  • Cycle:  Pertains to the cycle that the depreciation schedule belongs.

  • Expense Code:  The expense code used for calculated depreciation.

  • End Balance Code: The expense code used if record is calculated for ending balance.

  • Mortality Loss Code: The expense used if record is calculated for mortality loss.

  • % To Depreciate:  Sets the available amount from the original Cap value that can be depreciated on the schedule.

  • Status:  Whether the Rule is currently active or inactive.  This field will default to the system default of Active.

  • Relations:  Sets the Company/Divisions and the Industry Types the Rule is associated with.

Miscellaneous

  • Amount Per:  Allows for the selection of how the schedule will calcualte the values.

  • Apply Period:  Configures exactly how the schedule will display the values.

  • Rounding:  Allows the users to determine how to round the solutions because the calculation will not result in perfect answers.

  • *Amount:  The amount to be used per period.  This field must be entered if using straight line depreciation.

  • *Number of Periods:  The number of periods the depreciation rule applies. (refers back to the apply period).

  • Fixed Salvage:  The amount of dollars set aside not to be used in the depreciation.

  • Salvage Per Head:  Instead of using a fixed dollar amount a user can select an amount per head to be set aside.

  • Calendar:  Allows for a specific Calendar to be used.

  • Apply Table:  If a percentage table was selected in Amount Per this is where the percentage table would be selected.  if a percentage table is utilized, the system table must be set up under Depreciation Percentage or Percent Hen Day Production.

    * Amount and number of periods are pending a change where only one may be entered, and the other calculated accordingly.





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