Adding Finance Modes

Perform the initial setup for asset purchases on various finance options like credit, cash or loan purchases. Set up finance modes for asset categories. For each asset category, set up capital costing items. Each finance mode you create can be used to budget various assets under a chosen category.

To add a finance mode:

1. Navigate to Maintenance > Capital > Asset Setup. Click the Finance Mode tab.

2. Click the Add button on the Finance Mode page.

3. For Finance Mode Code, enter a code that correlates with your company's current practices.

4. For Finance Mode Name, enter a name that is descriptive and easy to identify.

5. The Default option is selected by default. Deselect this option and select Custom Time Set to allow additional time set fields to create time sets with varying frequencies.

Fields available when Custom Time Set is selected:

• Time Set - Select the time set you want associated with the template. The Time Set options available are those you defined on the Define Time Sets page.

• Year Total Columns - This selection determines the position of the Year Total(s) columns on the template with respect to the Budget Periods.

  • Before Budget Periods – Places the Year Total(s) column before all budget periods.

  • After Budget Periods - Places the Year Total(s) column after all budget periods.

  • By Budget Periods (Before) – Places the Year Total(s) column before the budget periods per time set structure (year, quarter, month).

  • By Budget Periods (After) - Places the Year Total(s) column after the budget periods per time set structure (year, quarter, month).

• For Year Totals For select whether year totals will apply to budget periods or all periods.

6. Select asset categories to map to the finance mode. Select the asset category and click the forward arrow to map the asset category. You can also unmap asset categories by selecting one in the Mapped Asset Category pane and clicking the back arrow.

7. Click Save.