How to Manage IT Services › Enable Financial Transactions for a Service

Enable Financial Transactions for a Service

You can enable the service for financial processing. Identify the financial location, financial department, and other attributes that are used when processing financial transactions. You can also define transaction rates for the following entities for each service.

• labor
• material
• equipment
• expense

Verify that the following items exist before enabling a service for financial transactions:

• Entity, WIP and investment classes, locations, and rate and cost matrices.
• A department.

Follow these steps:

1. Open the service.
2. Open the Properties menu, and click Financial.
3. In the General section, enter the following:

   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 that is 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.

4. In the Labor Transaction Rates, Material Transaction Rates, Equipment Transaction Rates, and 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

   If multicurrency is enabled, the exchange rate type indicates how rates and costs are converted.

5. Save the changes.

Manage Incidents for a Service

Use incidents to track the IT demand from users and the work performed by IT analysts on your services. Incidents can include problems, issues, defects, and other requests.

Follow these steps:

1. Open a service.
2. Open the Properties menu and click Incident Categories.
3. Select the incident categories to associate with the service, and click Add. Incident categories group incidents to capture and assess the cost incurred and to view resource utilization.

   Note: Your administrator sets up and maintains the incident categories. Administrators can also associate any service collectively to an incident category.

4. Click Save and Return.
5. To view a list of incidents, open the Properties menu, and click Incidents.
6. To create a new incident, click New.
7. To reassign an incident click Reassign.
8. To convert an incident into a task or project, click Convert.