Adding Bank Transaction Cost Types
In this guide, we’ll walk you through how to add Bank Transaction Cost Types in Enlivy.
These cost types are essential for organizing your bank transactions, making it easier to categorize and filter expenses.
By assigning specific cost types to your transactions, you’ll be able to manage and track your financial activity more efficiently.
Accessing the Cost Types Dashboard
To access the Bank Transaction Cost Types dashboard in Enlivy, go to the left-side menu and navigate to Settings, then Accounting, and finally click on Bank Transaction Cost Types.
This will take you to the section where you can view, add, and manage all your cost types.
Default Cost Types and Management Options
From this dashboard, you can easily add bank transaction cost types, as well as tag, edit, or delete the ones already created.
By default, your Enlivy account will come with three predefined cost types: Bank Account Fee, Standard, and Government Tax Payment.
These defaults are a good starting point, but you can always customize or expand them to better fit your organization’s needs.
Adding a New Bank Transaction Cost Type
To begin, click on the Add Bank Transaction Cost Type + button located in the upper-right corner of the screen. This will open a new window where you can enter the details for your new cost type.
Explanation of Fields
In order to add a new bank transaction cost type in Enlivy, only the Title field is required. This is the name that will appear in your cost type list and will help you categorize your bank transactions more clearly.
You also have several optional fields that enhance the behavior and structure of the cost type:
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Title
This is the label that will show up in your list of cost types, making it easier to organize and categorize your bank transactions accurately.
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Parent Bank Transaction Cost Type
This dropdown lets you choose an existing cost type as the parent. It helps group related cost types under a broader category, improving your organization and reporting.
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Is Connection Required
Check this box if this cost type should always be linked to another record in the system. For example, if you create a cost type called “Client Invoice,” enabling this option means that every time you use it, you’ll be required to connect it to an actual client invoice.
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Connection Types
Use this dropdown to define which types of records this cost type can be connected to. You can select from receipts, invoices, payslips, or even other bank transactions, depending on how you plan to use the cost type.
Example: Adding a “Supplier Invoice” Cost Type
In the following example, we’ll demonstrate how to add a new cost type titled Supplier Invoice. Refer to the screenshots below for a visual guide through each step of the process.
Save Your Changes
Don’t forget to click Save Changes at the bottom of the form to ensure your new cost type is successfully added to your organization in Enlivy.
