Newly defined Expenditure Type not available for assignment to a Project unit

Summary:

Newly defined Expenditure Type not available for assignment to a Project Unit in the Manage Resource Classes window

Content (please ensure you mask any confidential information):

I have defined a new Expenditure Type with the Name "Professional Services" and assigned it to COMMON Set. I want to assign this new expenditure type to my project unit in the Manage Resource Classes window however the dropdown is not retrieving this expenditure type. What could be the issue and the resolution?

Version (include the version you are using, if applicable):

23C

Code Snippet (add any code snippets that support your topic, if applicable):