Finance Ledger Codes in the Metrix Asset Management System provide the ability for users to construct custom reporting states for the financial transaction ledger. In this, there are two key code types that can be set to structure an organisations end of period financial reporting - Finance Categories, and Transaction Types.
This section contains basic information about financial settings in the Metrix Asset Management system.
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).
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.
The transaction type is designed to inform the financial transaction ledger on the type of financial movement that the entry represents. Built-in transaction types include ‘Recognition’, ‘Renewal’, ‘Addition’, etc.
During a reporting period, an asset component may have six (6) renewal transactions, two (2) depreciation transactions, and one (1) upgrade transaction posted against it. The end of period report (the Temporal Finance Report) will sum the six (6) renewal postings, the two (2) depreciation postings, and the one (1) upgrade postings as the summary of movements for that component during the reporting period.
Each transaction type is assigned to a transaction type effect of ‘Gross’ and/or ‘Accumulated Depreciation’. When the Temporal Finance Report is generated, the movement results are summed into these transaction type allotments.
Restrictions can be applied to transaction type posting values such as ‘Positive Values’ only, or, ‘Negative Values’ only. This can assist with controlling end user input around expected movement behaviour in terms of capital value. For example, the built-in depreciation transaction type has a restriction of ‘Negative Values’ only because depreciation is always and only ever a decrement to an asset components carrying value.
The transaction type ID is the only way to make a valid reference to a transaction type from external locations such as API calls or CSV Data Imports. Once a transaction type has been created, the ID value (which will remain constant regardless of alterations) can be found in the ‘Code’ column of the transaction type preview table.
This section contains how to guides with respect to financial settings in the Metrix Asset Management system.
This section covers the necessary steps involved in creating a new finance category within the Metrix Asset Management System. This extends to the initial creation of the category along with a description. In subsequent sections, editing and deleting finance categories is discussed.
To create a new finance category within Metrix, complete the following steps:
Navigate to the ‘Finance Categories’ management page (Assets Menu > Finance Categories).
Click on ‘Create New Finance Category’ at the top of the page.
This will initialise a new finance category and display a dialog box waiting for additional details.
From here, you will need to set the ‘Finance Category Name’, and an optional ‘Description’ for the new category.
When you have finished defining the finance category, click ‘Create’
Editing a finance category is restricted to updating the description only. Other properties including the category name cannot be modified after initial creation.
In the Metrix Asset Management system, editing a finance category is restricted to updating the description only. Other properties including the category name cannot be modified after initial creation.
To edit the description of a finance category, complete the following steps:
Navigate to the ‘Finance Categories’ management page (Assets Menu > Finance Categories).
This page renders every finance category currently configured in the system. To edit a particular finance category description, click on the pencil ‘Edit’ icon on the right-hand side of the description field in the corresponding row.
Once finished, click on the tick icon at the right-end of the input box.
When a finance category is no longer required, the Metrix Asset Management system provides functionality for administrators to permanently remove it from the system.
Deleting finance categories cannot be undone. The following restrictions also apply when it comes to deleting finance categories:
To delete a finance category, follow these steps:
To begin deleting a finance category, navigate to the ‘Finance Categories’ management page (Assets Menu > Finance Categories).
This page renders every finance category currently configured in the system. To delete a particular finance category, click the trash-can ‘Delete’ icon at the far right-hand side of the row. If the button is not enabled, this means that the finance category cannot be deleted (see warning notes, above).
In the subsequent dialog, confirm your decision by clicking ‘Delete’.
The finance category will now be permanently deleted from the system.
This section covers the necessary steps involved in creating a new transaction type within the Metrix Asset Management System. This extends to the initial creation of the type along with the type effect, and any value restrictions that may apply. In subsequent sections, editing and deleting transaction types is discussed.
To create a new transaction type within Metrix, complete the following steps:
Navigate to the ‘Transaction Types’ management page (Assets Menu > Transaction Types).
Click on ‘Create New Transaction Types’ at the top of the page.
This will initialise a new transaction type and display a dialog box waiting for additional details.
From here, you will need to set the ‘Transaction Type Name’, the ‘Transaction Type Effect’, and the ‘Transaction Type Value Direction’ for the new type. See Finance Ledger Codes.
When you have finished defining the transaction type, click ‘Create’
Editing a transaction type is restricted to updating the value restriction only. Other properties including the name cannot be modified after initial creation.
In the Metrix Asset Management system, editing a transaction type is restricted to updating the value restriction only. Other properties including the name cannot be modified after initial creation.
To edit the value direction restriction on a transaction type, complete the following steps:
Navigate to the ‘Transaction Type’ management page (Assets Menu > Transaction Types).
This page renders every transaction type currently configured in the system. To edit a particular transaction type value restriction, click on the pencil ‘Edit’ icon on the right-hand side of the ‘Direction’ field in the corresponding row.
Set the new transaction type value restriction to either ‘Negative Only’, ‘Positive Only’, or ‘Any’.
Once finished, click on the tick icon at the right-end of the input box.
When a transaction type is no longer required, the Metrix Asset Management system provides functionality for administrators to permanently remove it from the system.
Deleting transaction types cannot be undone. The following restrictions also apply when it comes to deleting transaction types:
Transaction type cannot be in use: If the transaction type is currently assigned to any component via a posted transaction within the system, then it cannot be deleted.
Built-in transaction types cannot be deleted: The system comes pre-seeded with a number of transaction types. These cannot be deleted.
To delete a transaction type, follow these steps:
To begin deleting a transaction type, navigate to the ‘Transaction Type’ management page (Assets Menu > Transaction Types).
This page renders every transaction type currently configured in the system. To delete a particular transaction type, click the trash-can ‘Delete’ icon at the far right-hand side of the row. If the button is not enabled, this means that the transaction type cannot be deleted (see warning notes, above).
In the subsequent dialog, confirm your decision by clicking ‘Delete’.
The transaction type will now be permanently deleted from the system.