Finance Categories

The finance category is the principle categorisation field for the Financial Movement Report - the key input tool for an organisations ‘Infrastructure, Property, Plant, and Equipment’ statement. Typically, organisations will configure one finance category within Metrix for each desired reporting row within this end of period statement.

In practice, an asset components finance category is assigned via the first financial transaction ledger entry made against it. Each subsequent transaction, posted against that component, will inherit that finance category. To change a components finance category, a ‘Reclassification’ process must occur which will write-off the gross and accumulated depreciation value from the component under the ‘old’ category, and then write both back on against the ’new’ category (no value is created or lost, but the finance category will be changed).

Finance Category ID

The finance category ID is the only way to make a valid reference to a finance category from external locations such as API calls or CSV Data Imports. Once a finance category has been created, the ID value (which will remain constant regardless of alterations) can be found in the ‘Code’ column of the finance category preview table.