Tuning the Finances

March 22, 2020

Information on how to tune (configure) your Finances.

This tutorial contains information on how to tune the financials so they are relevant to your organisation. They cover how to:

  • Configure your Financial Lines
  • Add your Chart of Accounts information
  • Add Funding Categories.

Access to Business Configuration is via the top level navigation bar.

Configure your Financial Lines

This involves selecting what Financial Lines to display on financial views. See the Finances Tab for Initiatives such as Projects or Programmes to see how financial information is displayed.

Once you have navigated to the Business Configuration view, select*Financial Lines Configuration.

Add your Chart of Accounts information

This adds the accounts you want to see in your Initiative finances eg travel, furniture, power etc. These will most likely match the relevant accounts from your organisation’s financial management system (FMIS). If you are intending to import financial information from your FMIS, the relevant accounts in our application will need to match FMIS accounts.

Generally speaking resource costs are not added via the Chart of Accounts. Instead resource costs are calculated automatically inour application from hourly rates, planned time added to tasks or initiatives and approved time from timesheets.

Once you have navigated to the Business Configuration view above, select Chart of accounts.

Add Funding Categories

The Funding feature manages the allocation of funds which have been earmarked for a particular purpose. If you want to use this feature, you need to configure the Funding Categories.

To add your funding categories, go to the Business Configuration view and select Funding Category.

See the table below for an example of how you might set up your Funding Categories:

Value Financial line
Opex Operational expenses
Capex Capital expenses
Operational resource Operational resource costs
Capital resource Capital resource costs
Contingency Reserve funding