Cash expense rates

Apply a markup percentage to staff cash expenses. Multiple cash rates can be created, which allows you to apply markup to some cash expense types and not others. The markup value is shown as the 'charge-out' value suggested for the transaction, and the original cash expense value entered is shown as the cost. Staff enter cash expenses to claim reimbursement for work related expenses they are out of pocket for like travel, flights, accommodation, meals, parking costs etc. NEW 4.9.4

Getting Started

Who Can Use It?	Where Is It?
Director System Administrator	Practice > Rates > New Rate > Cash Rate

Create new cash expense rates

Where is it? Practice > Rates

Create multiple cash expense markup rates, to allow staff to select different markup percentages when entering their expenses.  Cash rates can also be used to provide an extra 'category' for reporting on expenses, and to have the cash rate description appear with more detail in the Project > Time and expenses tab. Markups can be entered with 2 decimal places.

Try entering a description like Cash markup 10%, Cash markup 15.25%, Cash markup 0% or by description of particular staff cash expense type.  When creating an invoice expense, you can alter which cash markup will be applied to each transaction line.

Create a new cash rate by:

1. Click New .
2. Select 'Cash' rate .
3. Type a description.
4. Enter a markup percentage.
5. Save and close.

Update the default cash expense rate

Where is it? Practice > Rates

As part of the upgrade process to the NEW 4.9.4 Synergy release a new default rate called 'cash' is created. The cash rate automatically has the 'Supplier (Default)' markup % applied, and is linked to all existing cash expenses in Synergy. This replaces the previous requirement that all cash expenses are shown as 'supplier' rates in transaction reports. The new 'cash' rate is the default item for staff cash expense entry, and the description entered here is shown in the project > time and expenses tab.

Update the default cash expense rate name or markup by:

1. Double click the rate with the 'Cash' description .
2. Update the description (name) if required.
3. Update the Markup percentage.
4. Set the effective date for when this new markup will be applied from. This date must be after the last invoiced transaction using this rate.
5. Save.

More information

Description

The description for the rates can be changed.  Changing the rate name will also update all existing transactions that the item is linked to already. Try creating a meaningful name with the rate type 'cash' and the markup % included. e.g. Cash 5% Markup.

Markup

Cash expenses are entered via Timesheets > Cash expenses tab. As the staff member enters their cash expense they are claiming reimbursement for they will select a 'Cash Rate'. The markup % will be applied to the Expense automatically, and will be shown as the 'charge-out' suggested value for the expense transaction in the Project.  

Effective date

New rates created have this date set automatically to the first available date.

Update the effective date when you want to apply a new cash markup % to future transactions. The effective date is the start date for when this new markup will begin to be applied to cash expense transactions. Everything entered before the effective date will be at the previous markup.

All Transactions allocated to the rate item prior to the new effective date will be calculated using the previous cost and charge and all transactions allocated from the effective date will be calculated at the current cost and charge - until such time a new effective date is set. 

Want to learn more?

Looking for more help? Try reviewing the following Practice topics: View Topics

Or try reviewing the following Rates topics: View Topics

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