There are several places where you can view your firm’s expense history. Below is a list of all the locations within BigTime where you can view expense history records:
- The TIME EXPENSE HISTORY tab under a specific project (MY COMPANY…PROJECT LIST, then drill down into your chosen project’s details)
- The EXPENSES tab under a staffers details page (MY COMPANY…STAFF LIST, then drill down into a specific staffer’s details)
- Your expense approvals view (MY COMPANY…PENDING APPROVALS…EXPENSES, then drill down into a specific submitted expense)
- The invoice details view (INVOICING…OVERVIEW, then drill down into a specific invoice)
If you have multi-currency activated and have used it when entering expenses, you’ll be able to add new fields related to multi-currency in each of these expense history locations: Amount Incurred, Exchange Rate (Input), Exchange Rate (Billable), Amount (Billable in Base Currency) and Currency (Input). Read on to learn what each of these fields display and what they can reveal about your expenses.
Currency (Input)
This field simply shows the expense amount in the currency you entered it under. If your base currency is USD, but you logged the expense in Canadian dollars, this field would display the amount in CAD.
Amount Incurred
The Amount Incurred field will show you the amount of your expense in the currency it was incurred in. If you used BigTime’s multi-currency feature to enter this expense in a foreign currency, this field will display the amount in that currency.
Exchange Rate (Input)
This field shows the exchange rate associated with the expense you entered. If you entered your expense in a foreign currency, this amount will be the conversion rate between that currency and your base currency. For example, if you entered an expense in Euros, and your base currency is USD, this field would show the decimal exchange rate between these two currencies. If you enter the expense in your base currency, this field value will be 1.00.
Exchange Rate (Billable)
Similarly to the Exchange Rate (Input) field, this field displays the exchange rate between the entered currency and your base currency. The difference between the two fields is that the amount in the Exchange Rate (Billable) field may differ if you’re billing your client in a currency other than the one you entered.
To illustrate, suppose your base currency is USD, but you incurred an expense in Yen. The exchange rate between the two currencies would show up in the Exchange Rate (Input) field. For the sake of this example, let’s say that rate is 0.07.
However, you actually plan to bill your client in your base currency of USD. That means the number in the Exchange Rate (Billable) field would reflect the exchange rate between the currency you’ll bill in and your base currency. In this case, since those currencies are the same, that number would be 1.00.
Amount (Billable in Base Currency)
The Amount (Billable in Base Currency) will display the billable amount of your expense, converted into your company’s base currency. This field will only differ from your Amount (Incurred) field if the currency you’re using for the associated project is different from your base currency.
Now that you understand the different fields that could appear in your expense history records, check out some of the following articles to learn more about expense tracking with BigTime’s multi-currency feature: