Review and Confirm Recurring Cost

Modified on Tue, 13 Jan at 4:35 AM

Recurring cost entries submitted by requestors must be reviewed, accepted, and confirmed by authorized managers before they become active. This additional validation layer enables finance managers or other authorized users to verify cost allocation details, correct discrepancies, and ensure compliance with project financial guidelines. If the requestor has the necessary permissions, they can confirm the entries they have submitted.

The system will only auto-generate payment or approval requests for confirmed entries, based on their respective recurrence periods.

To view recurring costs entries

Ensure you are on the 'Config' screen within the 'Recurring Cost' module of the project. If not:
- Click the app launcher icon in the top-right and select 'Finance'.
- Click 'Recurring cost' at the top

The configuration screen opens by default:

Select 'Configure' on the left if you are currently on some other screen in the 'Recurring Cost' module.

Edit Recurring cost details

Double-click the cells to edit the details. You can edit the following details:
Cost code - The unique code code associated with the cost item. Select the cost code from the drop-down list.
Source - The origin of the cost entry. Possible values are Field, Office, Administrative, and Finance
Cost Relates To - The cost type. Possible values are Material, Other, and Overhead
Frequency - The repetition interval for the recurring cost. Possible values are One Time, Daily, Weekly, Monthly, Quarterly, Yearly, and Ad-Hoc
Amount - The estimated cost value for each recurring instance. Enter the exact amount as per the recurring schedule.
Vendor - The name of the vendor or supplier associated with the recurring cost.
Start Date - The date from which the recurring cost becomes active. This marks the beginning of the cost duration.
End Date - The final date on which the recurring cost is expected to end. This defines the full duration of the recurring schedule.
Approver - The designated individual responsible for reviewing and approving cost requests associated with this entry. Select from the list of authorized project approvers.

Confirm Recurring cost entries

Open the recurring cost 'Config' screen as mentioned above.
Select the recurring cost entry by clicking its serial number.
Click the 'Accept' button at the top.

The request is confirmed, and the recurring cost request will automatically be generated based on their frequency.

One-Time - A single, non-repeating cost entry created for a specific date or event.
Daily - A cost that recurs every day over the specified duration.
Ad-Hoc - An unscheduled, on-demand cost that does not follow a fixed frequency. Logged manually as and when the cost arises through mobile devices from the field.
Weekly – A recurring cost that is triggered once every week, typically processed every Saturday.
Monthly – A cost that recurs once every month on a fixed schedule, and is set to automatically generate on the last date of the month.
Quarterly – A recurring cost that occurs once every three months, which is scheduled for the last day of each quarter.
Yearly – A cost that recurs annually, typically used for long-term agreements, annual insurance premiums, etc, processed on the last day of the year.

Search, filter, and sorting options

Use the 'Search' box located at the top left to find a template using any value from the table as search criteria
Right-click the column header and customize the display and order of the columns as you wish
The options at the top right allow you to filter the entries, create nested groups of entries, and manage personalized and customized views of the table. Use the links below to learn more about these:

Hover over a column header and click the icon to sort the rows in ascending or descending order of entries in that column

View Groups and Subtotals

You can get totals and subtotals of numerical data for any selected set of records by grouping and applying nested grouping. Use the icon at the top right to organize the data by column headers
The system automatically aggregates relevant numerical values, giving a structured breakdown and a clear view of the grand total distribution. See Group and Organize Items in a List View for more details

Download as Excel Sheet

Click the button at the top right to save a local copy of the list in Excel format for sharing and record-keeping. See Download List Views and Logs in Excel Format for more details