In an initiative configured to allow costs, the Cost tab will provide you with options to manage the expenses linked to it.
You can use this tab to :
- create cost profiles and add costs
- view cost profiles
- archive or remove costs
- view archived costs
- access cost ledger
Read on to find out more.
Creating Cost Profiles
A cost profile needs to be created under the initiative so that you can:
Amplify defines Costs by its group and Cost Category. You can add multiple cost profiles per cost category.
To create a cost profile:
- Click on the New Cost button.
- Click on the Save button to save the cost profile. If you want to create another profile, click on Save & Create Another.
Once you save the profile, the fields to enter cost data series display in the second half of the page. You will also be able to see the new cost listed under the Cost menu.
Adding Cost Data
The data entry fields allow you to enter cost data.
Depending upon which data series is enabled for the Cost Category, you will see columns of data entry fields.
Click in a cell and type in the value that you want to add. The graph in the upper part will automatically be updated. Amplify has a quick toggle feature, which can be used to input costs in a fast way, assuming you are applying the same value to each input field. Select the up, down or side arrow buttons to quickly copy a value to all cells in the corresponding direction.
Click on the Save button placed above the data entry fields to save the values. Clicking on Reset will reset the fields to its initial condition.
Viewing Cost Profiles
The Cost tab will display all cost profiles that are linked to the initiatives in the submenu.
When you have a lot of records, you can use the Filter field to filter out specific records. If you want to see only the archived costs, click on the Show archived? option.
On selecting a cost profile from the menu list, the cost dashboard of the selected cost profile will be displayed. The corresponding group and category are displayed below the cost name.
The graph on the Cost Profile is created using the data recorded in the data entry fields below.
Archiving a Cost
If you want to eliminate an expense, you may archive the cost profile. An archive cost profile and all of its data are inactivated and not included in any cost-based calculations or shown on any dashboards.
To archive a cost:
- Access the cost profile and click on the Archive button.
- In the confirmation dialogue box that displays, click Archive.
The cost will disappear from the list under the Costs menu. To view it again, you will need to use the Show archive? option.
Restoring a Cost
An archived cost can be restored to its active status anytime. Use the Show archive? option to access it. An archived cost is indicated by a banner on the top of the screen.
Clicking on the Restore button will restore it. If you want to permanently remove the cost, click on the Delete button.