Use financial classes for the following purposes:
For more information, see the Project Management User Guide.
Use resource classes to categorize financially enabled resources.
Note: You can associate a resource to only one resource class.
Examples of resource classes include:
Follow these steps:
The financial organizational structure appears.
The list page appears.
The create page appears.
Defines a unique resource class ID. This field is display-only after the class is created.
Defines the detailed description of the class.
Specifies the type for the resource class. This field is display-only after the class is created.
Values:
Indicates if this resource class is active. An inactive resource class is unavailable for new references on resources, cost plans, and transactions.
If you no longer need a resource class, you can inactivate it.
Follow these steps:
The properties page appears.
Defines the detailed description of the class.
Indicates if this resource class is active. An inactive resource class is unavailable for new references on resources, cost plans, and transactions.
Company classes categorize clients, vertical markets, or lines of business within your financial organization and are required when financially enabling a company.
Use company classes for:
Examples of company classes include:
A company can belong to only one company class at a time.
Important! Do not delete the company class if a company is associated with the company class. Deleting assigned company classes causes validation errors.
Follow these steps:
The financial organizational structure appears.
The list page appears.
The create page appears.
Defines a unique company class ID. This field is display-only after the class is created.
Limits: 8 characters
Defines a detailed description of the class.
Defines the class description
Limits: 15 characters
After creating a company class, you can delete it by selecting it from the list page and clicking Delete.
Follow these steps:
The properties page appears.
Defines a detailed description of the class.
Defines the class description
Limits: 15 characters
Use investment classes to categorize work logically within an organization. For example, you can use investment classes to categorize investments.
Follow these steps:
The financial organizational structure page appears.
The list page appears.
The create page appears.
Defines the name for the class (up to eight characters). This field is display-only after the investment class is created.
Defines the detailed description of the class.
Defines the short description of the class.
You can delete an investment class by selecting it from the list page and clicking Delete.
Follow these steps:
The properties page appears.
Defines the detailed description of the class.
Defines the short description of the class.
Use work-in-process (WIP) classes to categorize companies and investments. WIP is also used to indicate methods of revenue recognition. You can use the WIP class to define the rates and costs for transactions, and to group transactions for posting to the general ledger. For projects, you can use them to calculate recognized revenue.
Important! If the WIP class is currently associated with a company, investment, or transaction, do not delete the WIP class.
Follow these steps:
The financial organizational structure appears.
The list page appears.
The create page appears.
Defines the name for the class. Display-only after the class is created.
Limits: 8 characters
Defines the detailed description of the class.
Defines the short description of the class.
To delete a WIP class, select the class from the list page, and click Delete.
Follow these steps:
The properties page appears.
Defines the detailed description of the class.
Defines the short description of the class.
Transaction classes are user-defined values that group transaction types. For example, to categorize the labor transaction type for financial reporting and analysis in your organization, add the following transaction classes:
Some other examples of transaction classes include the following:
Define at least one transaction class for each of the following transaction types:
|
Transaction Type |
System Identifier |
|---|---|
|
Labor. Used to capture people hours associated with costs. |
L |
|
Material. Used to capture asset costs. |
M |
|
Equipment. Used to capture physical asset costs. |
Q |
|
Expense. Used to capture all other costs. |
X |
Every transaction is associated with a transaction class. This association is useful when applying costs to investments in an organization.
Follow these steps:
The financial organizational structure appears.
The list page appears.
The create page appears.
Defines the unique ID for the class. This field is display-only after the class is created.
Limits: Eight characters.
Defines the detailed description of the class.
Defines the short description of the class.
Defines the transaction type. This field is display-only when editing the class.
Values:
To delete a transaction class, select it from the list page, and click Delete.
Follow these steps:
The properties page appears.
Defines the detailed description of the class.
Defines the short description of the class.
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