Cost objects let you group, monitor, and manage trip costs for the same department or project.

You can create a cost object for a specific company or use the cost object for all companies in your account. You can make the cost object available to everyone in the company or only to specific people.

Note: You can also use the same cost object for travel. For more information, see Cost objects in travel and Set up cost objects for travel costs.

When creating a new cost object, you choose where you want to use the cost object, which companies can use it. By default, you assign a cost object to everyone when creating a user in Perk. However, you can choose to allow other people to view and access the cost object when submitting expenses or invoices.

You can create expense-only or invoice-only cost objects. These cost objects only appear within the context they are created. For example, if you create an expense-only cost object, it won’t appear in the booking checkout step when people search for a cost object or as a cost object option for line items when coding invoices.

If you plan to use cost objects for cost allocation, you must enter the necessary ERP code for exporting cost object data in expenses and invoices to a third-party system.

If you plan to use a cost object approval process for expenses and invoices, you can set the person who can approve any expenses or invoices submitted to the cost object and set a limit for approval. Any expenses or invoices that exceed that limit are escalated to a superior in the approval process.

Adding a new cost object for expenses or invoices

1. Go to Settings > Cost management > Cost objects.
2. Click Add cost object.
3. In the Name and usage:
   1. Enter a clear Cost object name (e.g., "Project X Travel Budget").
   2. (Optional) Select a Parent cost object if you need a hierarchical structure for determining escalation in cost object approval. See Cost objects in Perk.
4. Choose the applicable Companies. You can make this cost object available for all companies in the account or only specific companies.
5. Under Usage, select Expenses or Invoices.
6. Under Assigned people, choose who you want to use this as their default cost object. When they upload an expense or invoice, this cost object is automatically selected.
7. If you plan to use a cost object approval strategy, under Approval process, choose who can approve expenses or invoices submitted to the cost object.
   Note: Additional approvers for travel are configured when Travel is included in the cost object's usage. They don't apply to expense or invoice approval. To temporarily delegate expense approvals, use the Delegate field.
   1. Approver: The person who is responsible for approving any expenses or invoices submitted with this cost object.
   2. Approval limit: If you set an approver, set the maximum threshold for their approval. Any expenses or invoices over this limit are escalated to the approver of the parent cost object, if applicable.
   3. Delegate and delegation expiry: If the approver plans to be out of the office, set a Delegate to approve while they’re away, and the Delegate expiry for when they return to the office.
8. For cost objects used for cost allocation, enter the ERP code to be used to identify the cost object in the finance and accounting system. Exported expenses and invoices will use this code to indicate the cost object.
9. Under Cost objects access, choose whether people can view and select the cost object by selecting Allow other people to use this cost object. If you choose everyone, anyone can search for and select the cost object when creating an expense or an invoice. If you choose selected people, only those you selected can access and select the cost object.
10. Click Save.

Tip: You can create a single cost object that is used by both expenses and invoices by selecting both Expenses and Invoices.

Assigning default cost objects

When you assign a cost object as a person’s default, the cost object is automatically selected in the checkout step when they book a trip. The person can also view other cost objects, depending on their visibility.

To assign a default cost object:

1. Go to the People page.
2. Select the person or people you want to assign the cost object to.

3. In the quick actions section, click Edit cost object.

   

4. Under Assign a cost object, select the new cost object.