How to Set Up Financial Management › How to Set Up a Financial Entity › Create Plan Defaults

Create Plan Defaults

To create the following types of defaults for detailed financial plans for all investments, use plan defaults:

• Grouping attributes. Groups financial planning data by specific criteria. For example, to see the cost breakdown by different departments and locations, select Department and Location as the default grouping attributes for all financial plans.
• Fiscal time period type. Breaks down financial planning data by specific time period type. For example, to see a monthly breakdown of cost values by default, select a monthly time period type for all cost plans.

  You can only edit the data for the selected time period type. You can view the data for the other time period types but cannot edit the data.

• Starting and ending periods. Specifies the date range for creating manual financial plans. For example, to default the start and end periods of all financial plans within a range, specify, for example, January 1 at the start date and December 31as the end date.
• Locked plans. Locks financial plans to prevent managers from changing the grouping attributes at the investment level.
• Freeze date. Governs the time periods. For example, enter December 31 to prevent the time periods for detailed financial plans from being changed before this date.

Follow these steps:

1. Open Administration, and from the Finance menu, click Setup.
2. In the Organizational Structure section, click entities.
3. Open the entity for which you want to create plan defaults.
4. Click Plan Defaults.
5. Complete the requested information. The following fields require explanation:

   Freeze Date

   Specifies the date on which you can edit the time periods for a plan. You cannot edit the time periods for a detailed financial plan earlier than the freeze date.

   Note: You cannot manually edit the detailed financial plans for time periods before the freeze date. However, if you auto-populate cost plans using Populate from Investment Team or Populate from Task Assignments, the time periods get updated irrespective of freeze date.

   Lock Plan Structure

   Specifies whether to prevent managers from overriding the plan defaults when defining cost plans.

   Grouping Attributes

   Specifies the categories for designing the cost plan and benefit plan line item detail structure.

6. Save the changes.

   You have successfully set up a financial entity.