How to Set Up Financial Management › Set Up Financial Processing Options

Set Up Financial Processing Options

You can standardize functionality or business logic by setting up basic rules for financial transaction processing. Once these rules are defined, you can enable or disable the processing options as desired.

Follow these steps:

1. Open Administration, and from Finance, click Processing.

   The financial management processing page appears.

2. Complete the following fields:

   Allow Chargeable Override

   Indicates if resources are allowed to change the chargeable status of a cost code as transactions are entered.

   Use Multicurrency

   Indicates if multicurrency is available for the current session. When you enable multicurrency, the system tracks multiple currencies for transactions, billing, and reporting.

   Apply Currency Precision for rate/cost

   Indicates if currency precision is applied to rate or cost. This drives whether calculations are made using the extended currency precision, or rounded to the currency precision, then calculated.

   Entity Based Security

   Specifies the type of security applied to financial processing.

   Values:

   • None. No security is used.
   • Strict. Access is allowed only to the specified financial entity objects and transactions.
   • Parent. Access is allowed only to the objects and transactions of the specified financial entity, its parent, and children.

   Hide Financial OBS

   Indicates if financial OBS types must be hidden in some OBS browse lists. Select the check box to hide the Department and Location OBS types from OBS browse lists.

3. Save the changes.