Cost accounts help you to track activity costs, project expenses and earned value throughout the project life cycle. Cost accounts can be established in a hierarchy available to all projects in the enterprise project structure (EPS).
You can create cost accounts that can be assigned to activities in any project. Further, you can also add expenses, assign expense categories and all the details relating to the expenses.
Firstly, create a cost account hierarchy, Go to Menu bar, choose Enterprise, then cost accounts. Click the Cost Account ID column label to display the cost accounts hierarchy.
Setting up a cost account:
Select the cost account immediately above and at the same level as the cost account you want to add, then click Add. Type the cost account’s ID and name and all other information relating to the cost account.
If in case, you wish to use the existing cost accounts, select the project in the top layout, go to project details in the bottom pane and go to defaults tab and in the cost account section, click the browse button and choose the desired cost account.
You can edit, delete the cost accounts by going to the Enterprise>>cost accounts section. You can as well cut/ copy/ paste cost accounts.
Open the desired project for which you want to add expenses.