What are Cost Types?
Cost Types refer to different categories or classifications of expenses. These categories help organize and track expenses for accounting, budgeting, and financial analysis purposes.
For example, your account is pre-configured with the following cost types:
Advertising
Compliance
Food & Beverage
🔍 Tip: Have your Cost Types match your Chart of Accounts for easy reconciling!
Adding Cost Types
From the left-side main menu, click the Settings tab > Advanced Setup
Go to Vendor section > click Cost Types.
From the Cost Types page > click +New button
Complete New Cost Type form pop-up window.
Type*
Name
Description optional
Click Save
*Type. Cost categories are represented by the Type field and include Campaign, Event, Training or Vendor options. These cost categories represent different costs grouped together who share the same characteristic(s) to their respective category. The most common cost examples are Advertising (Campaign), Advertising Compliance (Campaign) and Food & Beverage (Event).
Edit Existing Cost Types
From the left-side main menu, click the Settings tab > Advanced Setup
Go to Vendor section > click Cost Types
Go the Action Menu
> select Edit for the Cost Type you wish to edit.Complete the Edit Cost Type form
Type*
Name
Description optional
Click Save
Merge Cost Types
From the left-side main menu, click the Settings tab > Advanced Setup
Select the Cost Types section
From the Cost Types page > click
Complete the Merge Cost Types form
Merge From
Merge To
Remove original Lead Source after merge recommended
Click Merge
🛑 IMPORTANT! Please use the Merge feature with extreme caution. Objects merged cannot be un-merged.