Enter a short description (or abbreviation) of the cost type, up to 10 characters. This is the description that will be used every time you enter this cost type in any Cost Type field.
Although it is not required, it is suggested that the first character be unique for each cost type. When entering cost types in all modules, the program will match the first alpha character that you enter to the first character of the cost type, and then the second character, and so on, until a match is made identifying the correct cost type number. If each abbreviation has a unique first alphabetic character, it will accomplish this with just one keystroke.