Creating a financial entity is the first step in setting up financial management. You can define as many entities as you need.
Each entity owns a unique set of locations and departments for which the entities are financially aware. To establish this financial boundary, associate the entities with a geographical OBS for locations and an organizational OBS for departments.
Once an entity is defined, you can create financial plans and establish costs for investments.
Financial controllers can set up defaults at the entity level to suggest the recommended cost plan structure for the organization. For example, they can predefine the fiscal time period type and the grouping attributes for all cost plans. The default values are automatically populated for individual investment cost plans at the time you create them. The project managers can change these defaults for their specific investments.
Financial setup requires input from your IT or corporate finance department and must accurately reflect how investment costs are tracked.
The following is the recommended order of tasks for setting up an entity:
For more information, see the Administration Guide.
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:
The financial organizational structure appears.
The entity list appears.
The create page appears.
Defines the entity name. You cannot update this value after you create the entity.
Defines the detailed description of the entity.
Defines the brief description of the entity.
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:
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.
Defines the default billing currency for viewing cost plans.
Defines the default currency used for reporting. You cannot update this field after the entity is created.
Defines the location OBS associated with the entity.
Defines the department OBS associated with the entity.
Defines the investment class for the entity used for reporting purposes.
Defines the default company class.
Defines the default work-in-progress class.
Defines a cost/rate matrix to use for labor.
Defines a cost/rate matrix to use for labor.
Defines the source for the rate and cost as coming from either the resource location or project location.
Defines the exchange rate type to use for labor.
Values: Average, Fixed, or Spot
Defines a cost/rate matrix to use for materials.
Defines the exchange rate type to use for material.
Values: Average, Fixed, or Spot.
Defines a cost/rate matrix to use for equipment.
Defines the exchange rate type to use for equipment.
Values: Select Average, Fixed, or Spot.
Defines a cost/rate matrix to use for expenses.
Defines the exchange rate type to use for expenses.
Values: Select Average, Fixed, or Spot.
The entity is created.
You can change the general information for an entity after you create it. You can delete an entity as long as it is not associated with any department or location.
Follow these steps:
The entity properties appear.
Defines the entity name. You cannot update this value after you create the entity.
Defines the detailed description of the entity.
Defines the brief description of the entity.
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:
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.
Defines the default billing currency for viewing cost plans.
Defines the default currency used for reporting. You cannot update this field after the entity is created.
Defines the location OBS associated with the entity.
Defines the department OBS associated with the entity.
Defines the investment class for the entity used for reporting purposes.
Defines the default company class.
Defines the default work-in-progress class.
Defines a cost/rate matrix to use for labor.
Defines a cost/rate matrix to use for labor.
Defines the source for the rate and cost as coming from either the resource location or project location.
Defines the exchange rate type to use for labor.
Values: Average, Fixed, or Spot
Defines a cost/rate matrix to use for materials.
Defines the exchange rate type to use for material.
Values: Average, Fixed, or Spot.
Defines a cost/rate matrix to use for equipment.
Defines the exchange rate type to use for equipment.
Values: Select Average, Fixed, or Spot.
Defines a cost/rate matrix to use for expenses.
Defines the exchange rate type to use for expenses.
Values: Select Average, Fixed, or Spot.
Fiscal time periods are the dates you specify as a unit for financial processing. Before you can perform detailed financial planning tasks or set up chargeback rules, you must define active fiscal time periods for an entity.
When creating time periods, the period, year, and date range you select automatically creates a series of time periods.
Example
If the time period is monthly, enter January 1 as the start date and December 31 as the finish date. Doing so creates time periods for each month in the specified year.
Follow these steps:
The fiscal time periods list appears.
The create page appears.
Defines the period type, such a monthly or quarterly. Once you create this time period, you cannot change the type.
Values: 13 Periods, Weekly, Semi Monthly, Monthly, Quarterly, Annually
Defines the fiscal year.
Defines the placeholder description for the set of time periods being created.
Defines the start date for the period or range of time periods. You cannot edit the start date once saved.
Defines the ending date for the time period or range of time periods. You cannot edit the finish date once saved.
All fiscal time periods within the date range are created with a status of "Inactive".
You can deactivate or delete a fiscal time period only if it is not used in a cost plan or referenced in a transaction.
Follow these steps:
The fiscal time periods list appears.
A checkmark appears in the Active column for the fiscal time period.
The fiscal time periods are now active.
You can edit the name, start date, finish date, and year of inactive fiscal time periods. You can edit these attributes as long as there are no overlaps across, or gaps between the time periods. Once activated, you can only edit the name and description of a time period.
Follow these steps:
The fiscal time periods list appears.
Defines the fiscal time period name. You cannot edit the name once saved.
Defines the fiscal year.
Defines the placeholder description for the set of time periods being created.
Defines the start date for the period or range of time periods. You cannot edit the start date once saved.
Defines the ending date for the time period or range of time periods. You cannot edit the finish date once saved.
Use plan defaults to define default settings for all project and investment cost plans. Budget Plans inherit the grouping attributes from cost plans.
With plan defaults, you can do the following:
If you set plan defaults for period type, plan start and end periods, and grouping attributes, these default values are auto-populated when defining cost plans. Project managers can change these values in the cost plans unless the plan structure is locked.
If you do not set any plan defaults, the period type is auto-populated from the entity when defining cost plans. The plan start and end periods are auto-populated from the investment start and end dates.
Follow these steps:
The create page appears.
Defines the type of period on which cost plans for this entity are based, such as monthly or quarterly.
Default: The period type used in chargebacks for debit and credit rules.
Defines the default start and end time periods for cost plans.
Defines the freeze date. You cannot edit a plan for time periods before the freeze date.
Specifies whether you want to prevent managers from overriding plan defaults when defining cost plans. You can select this field only if you have some grouping attributes selected.
Default: Cleared
Defines the categories for designing the cost plan and benefit plan line item detail structure.
Values: Charge Code, Department, Input Type Code, Location, Resource, Resource Class, Role, Transaction Class, User Value 1, and User Value 2
Changes to plan defaults apply only to new cost plans, not existing ones.
Follow these steps:
The entity plan defaults appear.
Defines the type of period on which cost plans for this entity are based, such as monthly or quarterly.
Default: The period type used in chargebacks for debit and credit rules.
Defines the default start and end time periods for cost plans.
Defines the freeze date. You cannot edit a plan for time periods before the freeze date.
Specifies whether you want to prevent managers from overriding plan defaults when defining cost plans. You can select this field only if you have some grouping attributes selected.
Default: Cleared
Defines the categories for designing the cost plan and benefit plan line item detail structure.
Values: Charge Code, Department, Input Type Code, Location, Resource, Resource Class, Role, Transaction Class, User Value 1, and User Value 2
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