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Expenditure Classifications

You assign an expenditure type to each expenditure item to classify the type of cost incurred (for example, administrative or professional for labor, and air travel or lodging for expenses). Each expenditure type falls into an expenditure or revenue category. For example, airfare, meals, and hotel expenditures fall into the Travel expenditure category.

You define all expenditure types, expenditure categories, and revenue categories during implementation. You group expenditure types into expenditure categories for cost grouping, and revenue categories for revenue grouping.

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