Setting Up Financial Management › Entities › Create Entities

Create Entities

If you are setting up financial management for the first-time, first establish the OBS location and OBS department associations and then create the entity .

If you have previously defined system defaults, the default values are populated when you create an entity. For example, Investment Class, Company Class, and WIP Class are populated by default.

If a cost/rate matrix exists for resources (labor, material, equipment), by default all transactions for these resources use the matrix to determine costs and rates. You can override this default by entering a different cost and rate in the transaction properties.

Follow these steps:

1. Open Administration, and from Finance, click Setup.

   The financial organizational structure appears.

2. Click Entities.

   The entity list appears.

3. Click New.

   The create page appears.

4. In the General section, complete the following fields:

   Entity

   Defines the entity name. You cannot update this value after you create the entity.

   Description

   Defines the detailed description of the entity.

   Short Description

   Defines the brief description of the entity.

   Fiscal Period Type

   Defines the fiscal time period type for the entity. This value sets the default fiscal time period type for all new cost plans created for the entity. You can change this default in the cost plan.

   Values:

   • Monthly
   • Quarterly
   • Annually
   • Weekly
   • Semi Monthly
   • 13 Periods

   Home Currency

   Defines the home currency for the entity. You cannot update this field after the entity is created. You can only select currencies if the currency option was enabled as CA Clarity PPM was installed.

   Default Billing Currency

   Defines the default billing currency for viewing cost plans.

   Reporting Currency

   Defines the default currency used for reporting. You cannot update this field after the entity is created.

   Location OBS

   Defines the location OBS associated with the entity.

   Department OBS

   Defines the department OBS associated with the entity.

5. In the Defaults section, complete the following fields:

   Investment Class

   Defines the investment class for the entity used for reporting purposes.

   Company Class

   Defines the default company class.

   WIP Class

   Defines the default work-in-progress class.

6. In the Labor Rate and Cost Defaults section, complete the following fields:

   Rate Source

   Defines a cost/rate matrix to use for labor.

   Cost Source

   Defines a cost/rate matrix to use for labor.

   Source Location

   Defines the source for the rate and cost as coming from either the resource location or project location.

   Exchange Rate Type

   Defines the exchange rate type to use for labor.

   Values: Average, Fixed, or Spot

7. In the Material Rate Defaults section, complete the following fields:

   Rate Source

   Defines a cost/rate matrix to use for materials.

   Exchange Rate Type

   Defines the exchange rate type to use for material.

   Values: Average, Fixed, or Spot.

8. In the Equipment Rate Defaults section, complete the following fields:

   Rate Source

   Defines a cost/rate matrix to use for equipment.

   Exchange Rate Type

   Defines the exchange rate type to use for equipment.

   Values: Select Average, Fixed, or Spot.

9. In the Expense Rate Defaults section, complete the following fields:

   Rate Source

   Defines a cost/rate matrix to use for expenses.

   Exchange Rate Type

   Defines the exchange rate type to use for expenses.

   Values: Select Average, Fixed, or Spot.

10. Save the changes.

    The entity is created.

More information:

How to Set Up Financial Entities

Edit Entities

Fiscal Time Periods for Entities

Grouping of Cost Planning Data

How Cost Plans are Created