Settings > Finance

The Finance section of the Settings app is where you establish and specify the categories you want to use to classify the different fund types that will be used during a fiscal year.

Permissions

In order to interact with Finance settings, a user needs to be assigned the following permission:

  • Settings (Finance): Can view and edit settings. This permission allows the user to view, create, edit, and delete all finance settings.

Note: This is the only permission available for Finance settings. With some other Finance permissions, the user is able to view the settings, but they are unable to create, edit, or delete the settings. You can assign permissions to users in the Users app.

Settings > Finance > Fund types

A fund type is a categorization to help distinguish between the purpose of the different funds. You can use fund types to track the types of items funds are applied to, such as gifts, endowments, and exchanges. You need to first add the fund types in the Settings app in order to assign them to funds as fund types are created within the system. Fiscal year rollover of funds is often defined by fund type, so definition of the type values should consider future fiscal year rollover requirements.

For more information on adding funds and fund information, see Creating a new fund.

Creating a new fund type

  1. Click New.

  2. Enter a fund type Name in the box.

  3. Click Save. The fund type is saved and appears in the Fund types list.

Editing a fund type

  1. Find the fund type you want to edit and click the pencil icon.

  2. Edit the Name.

  3. Click Save. The fund type is updated.

Deleting a fund type

  1. Find the fund type you want to delete. Click the trash can icon.

  2. In the Delete Fund type dialog, click Delete. A confirmation message appears and the fund type is deleted.

Settings > Finance > Expense classes

Expense classes allow you to track spending by defined categories within a fund. They enable tracking and reporting by the classes defined in this setting. For example, you may want to track spending based on order format (electronic vs print). When an order or invoice is created, both the fund and the expense class can be selected by the user.

For more information on adding funds and fund information, see Creating a new fund.

Creating a new expense class

  1. Click New.

  2. Enter a category Name, Code, and External account number extension in the boxes.

  3. Name. The name to designate the expense class.

  4. Code. Self-created, based on name, a unique identifier for the expense class.

  5. External account number extensions. The financial account listing outside of the system linked to the expense class. For example, 01.

  6. Click Save. The expense class is saved and appears in the Expense class list.

Editing an expense class

  1. Find the expense class you want to edit and click the pencil icon.

  2. Edit the Name, Code, or External account number extension.

  3. Click Save. The expense class is updated.

Deleting an expense class

  1. Find the expense class you want to delete. Click the trash can icon.

  2. In the Delete Expense class dialog, click Delete. A confirmation message appears and the expense class is deleted.

Last modified October 18, 2022