Track Costs in a Project

Track Costs in a Project

Is there anyway when setting up a project I could have something like:

Sept 1:
Acquire New Server  $5,000
Three hours labor:  $250

Sept 4:
Run new cable: $100
Buy new Cisco Router: $1,200

In other words, I can track time in Projects, but I don't see a way to track my expenses.  Just wondering if it's possible to do this.  Esp for this one client, where there is no charge if we can't get the setup to work, so I want to track my expenses so I can bill them when it does work (or I can remove certain line items if certain things don't work).