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The spend category dictates the coding and determines if it will be an asset or not. These are our spend category hierarchies that are roll-ups of assets:
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Acquisition Costs
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Buildings
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Furnishings and Equipment
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Goodwill
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Intangible Assets
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Land
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Leaseholds and Leasehold Improvements
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Liquor License
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Operating Expense
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Vehicles
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HOW DO I CHOOSE THE CORRECT SPEND CATEGORY THAT WILL ROLL UP AS CAPEX - STEP BY STEP DIRECTION
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Refer to the item you want to purchase from the next tab - Spend Category List
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First, choose the correct Spend Categories by Hierarchy from the spend category.
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Then, select the appropriate category from the subsequent dropdown.
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