Latest revision as of 14:56, 21 July 2017

1 Overview

The Expenses module in bxp jargon is the logging of costs incurred as part of the delivery or a project. An expense is logged to an individual and requires that individual to be reimbursed by the business.

Expenses are associated with a project.

Expense items include entries such as mileage, subsistence and operational day to day costs of smaller one off purchases for the business.

2 Definition

Expenses are defined as

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Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business.

Expenses may be in the form of actual cash payments (such as wages and salaries), a computed expired portion (depreciation) of an asset, or an amount taken out of earnings (such as bad debts).

Expenses are summarized and charged in the income statement as deductions from the income before assessing income tax. Whereas all expenses are costs, not all costs (such as those incurred in acquisition of income generating assets) are expenses.

http://www.businessdictionary.com/definition/expense.html

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3 Notes

bxp requires a photograph or receipt for sundry purchases to be logged with the record.

Mileage rates can be logged and tracked as well. Links to distance measuring websites are included.

bxp does not provide the legislation application of rates to the amounts logged.