Creating charge codes

The charge codes categorize costs against project budgets and play an important role in project financials. You will create charge codes to track the revenue and expense of a project.
To perform this task, you must be assigned to an administrator role with the required security permission. For more information about roles and security, see EPM security settings.

During project execution, the project manager or team member who has the necessary permission associates the charge code with a project.

Also, you can create various additional expenses as charge codes and flag these charge codes as account heads. The project manager or team member who has the necessary permission can add the flagged charge codes as account heads from the Financials viewlet. This helps to track actual cost against estimated cost during project monitoring and control. For example, create travel and meeting expenses as a charge code, and then track actual cost against estimated cost from the Financials viewlet.

To create a charge code:

  1. Go to the Administration view. Click EPM Settings.
  2. From the Financial list on the left pane, click Charge Codes, and then click the add icon .
  3. Add the details of the charge codes in the following fields:
    • Name: Specify the name of the charge code.
    • Description: Enter a description to the charge code.
    • Code: Enter the code name, this is a mandatory field, and the code has to be unique. It can be alphanumeric.
    • Billable: Select the check box, if the charge code is billable.
    • State: Select the state of the charge code from the list.
    • Account Head: Select the check box, if you want to make the charge code as an account head.
  4. Click Save.
  5. Optional: To create the child level charge codes for your project, select a charge code, click on the down arrow key , and then click to select Create New > Charge code from the menu.
  6. Optional: Add the details for the child charge code as you have done in step 3.
  7. Click Save.
To modify a charge code:
  1. Double-click the field in the charge code view.
  2. Make the changes and click Save to retain the changes done.
Related concepts
Assigning charge codes to a project

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