What is expense type in SAP LOD-TEM - Travel OnDemand?

SAP Term: expense type

• Component: LOD-TEM

• Component Name: Travel OnDemand

• Description: A classification for indicating the purpose of an expense, for example, car rental, hotel, or taxi. Each expense is assigned one expense type.

Smart SAP Assistant

• Key Concepts: 
  Expense type is a feature of the SAP LOD-TEM Travel OnDemand module that allows users to categorize their expenses. It is used to classify expenses into different categories, such as travel, meals, entertainment, and other miscellaneous expenses. This helps users to easily track and manage their expenses. 
  
  How to use it: 
  To use the expense type feature, users must first create an expense type in the system. This can be done by navigating to the “Expense Type” tab in the LOD-TEM Travel OnDemand module. From there, users can enter a name for the expense type and select a category from the drop-down menu. Once an expense type has been created, users can assign it to any expense they enter into the system. 
  
  Tips & Tricks: 
  When creating an expense type, it is important to choose a descriptive name that will make it easy to identify later on. Additionally, it is helpful to create multiple expense types for different categories of expenses so that they can be easily tracked and managed. 
  
  Related Information: 
  For more information on how to use the expense type feature in SAP LOD-TEM Travel OnDemand, please refer to the official documentation provided by SAP.