Investments › Main Properties (Investment) › Enable Financial Transactions (Investments)

Enable Financial Transactions (Investments)

Financially enable an investment for financial processing. You can identify the financial location, financial department, and other attributes that are used when processing financial transactions.

You can also associate general, labor transaction rates, material transaction rates, equipment transaction rates, and expense transaction rates to the investment.

The following must be set up before you can enable an investment for financial transactions.

• Entity, WIP and investment classes, location, and rate and cost matrices.

  See the Administration Guide for more information.

• A department.

  See the Basics User Guide for more information.

Follow these steps:

1. Open the investment.
2. Open the Properties menu and click Financial.

   The financial properties appear.

3. Complete the following fields:

   WIP Class

   Defines the work-in-process class used to match the investment with rate and cost matrices. The WIP class can also be used for reporting purposes.

   Investment Class

   Defines the investment class used to match the investment with rate and cost matrices. The investment class can also be used for reporting purposes.

   Department

   Defines the department used during transaction processing of chargebacks to charge or credit departments for costs. The department can also be used to match the investment with rate and cost matrices. If a department is selected on the general properties page, this field is auto-populated. Required for chargebacks.

   Location

   Defines the location used to match the investment with debit and credit rules for transaction processing of chargebacks. If system or entity defaults indicate that the source location is taken from the investment, use location to match the investment with rate and cost matrices.

   See the Administration Guide for more information.

4. In the Labor Transaction Rates, Material Transaction Rates, Equipment Transaction Rates, or Expense Transaction Rate sections, enter the following for each transaction type as needed:

   Rate Source

   Defines the rate used during transaction processing to charge for the cost of labor, materials, equipment, or expenses associated with the service.

   Cost Source

   Defines the cost of the labor, materials, equipment, or expenses associated with the service.

   Exchange Rate Type

   Defines how rates and costs are converted for systems with multicurrency enabled.

5. Save your changes.