In this guide, we show How to Use Financial Groups Lookups within the Finance Module, including:
- Creating a New Financial Group
- Linking the Financial Group to a Base Pay Structure
- Linking Base Pay Mappings to Multiple Financial Groups
Financial Groups can be selected from within a Base Pay Structure, with the purpose being to duplicate the Base Pay Mapping using a different Financial Group. Having multiple Financial Groups allows for the differentiation between them when mapping costs.
Access: The minimum permissions required to Use the Financial Groups Lookups are found in the Administration Module section Config > Setup > Role & Permissions.
Pre-requisites: An understanding of Staff Contracts and Base Pay Structures. A selection of Base Pay Structures set up in the Finance Module.
Related guides:
Creating a New Financial Group
To begin, go to Config > Administration > Lookup Tables.
Change the Admin Lookup dropdown to Financial Groups (Base Pay Structures). Click on this.
Any existing Financial Groups will display in the table. Click New to create a new one.
Pressing New opens an additional section on the right of the page where the details of the Financial Group can be entered. When the details of the Financial Group have been entered and Active ticked, click Create.
Note: Only one Permitted Role should be mapped to a Financial Group to avoid costs being duplicated.
The Financial Group now shows in the table and is ready to use.
Linking the Financial Group to a Base Pay Structure
Go to Config > Administration > Base Pay Structures.
Double click an existing Base Pay Structure, or select it and click Edit.
Within the Base Pay Structure, there is an option for Financial Group. Click on the newly created Financial Group to add it to the Base Pay Structure.
To conclude the process, Save the Base Pay Structure.
Linking Base Pay Mappings to Multiple Financial Groups
Go to Modules > Finance > Finance Home Page > Staffing > Base Pay Mappings.
Rows in the Base Pay Mappings table can be mapped to a Financial Group by selecting the Row, then clicking View/Edit.
Select the Financial Group from the dropdown and click Save.
Click the Add Additional button to add an Additional Financial Group to the same Base Pay Mapping.
Select the Financial Group from the dropdown, complete the other required information and click Save.
For Other Payments, click on Add New Record, complete the required information, add a Max Value, click on the tick and then click Save.
Note: Each Base Pay Structure Row will have a unique combination of Base Pay Structure, Scale Spine Point Group, Financial Group, Cost Centre, and Ledgers for Basic, NI, Superannuation, and Other Payments.