What is expense class in SAP LO-GT - Global Trade Management?

SAP Term: expense class

• Component: LO-GT

• Component Name: Global Trade Management

• Description: A part of expense management that controls, together with the accounting type and the posting category type, the determination of a settlement document type for a supplier billing document.

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• Key Concepts: 
  Expense Class is a feature of SAP's Global Trade Management (GTM) component. It is used to classify and categorize expenses related to international trade. Expense classes are used to group similar expenses together, such as customs duties, taxes, and freight charges. This allows for easier tracking and reporting of expenses related to international trade.
  
  How to use it: 
  Expense classes can be created in the GTM component of SAP. The user can define the expense class by entering a description, assigning a cost center, and selecting an expense type. Once the expense class is created, it can be assigned to any transaction related to international trade. This will allow for easier tracking and reporting of expenses related to international trade.
  
  Tips & Tricks: 
  When creating an expense class, it is important to ensure that the description is clear and concise. This will make it easier for users to identify the expense class when assigning it to transactions. Additionally, it is important to assign the correct cost center and expense type when creating an expense class. This will ensure that the expenses are properly tracked and reported.
  
  Related Information: 
  For more information on SAP's Global Trade Management component, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed information on how to use the GTM component of SAP.