Finance Reference Data

Use this audit data to define the audit status under Finance > Authorisation Manager > Invoice Audit Manager > Audit Status.

The fields on the Audit Status window are described in the following table.

This field	Holds this information...
Description	A unique description of theAudit Status. This field is mandatory.
Default	Default setting for the Audit Status.
Failed	Failed setting for the Audit Status.

This field	Holds this information...
New	Creates a new Audit Status record.
Delete	Only unused 'Audit Status' can be deleted.
Help	Opens the K2 online help page.

A check box has been added to the Audit Status for both Initial Selection and Is Failed.

Audit Status is controlled by a role permission with the following options:

• View (Reference Data can be opened and displayed in grey and cannot be updated.)

• Edit (Reference Data can be created, updated but cannot be deleted.)

• Full Permissions (Reference Data can be created, updated and deleted as required.)

• Audit Trail updated.

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Use this reference data to define account codes, which typically represent the type of spend for a financial transaction (for example: reactive repairs, legal fees, demolition costs and so on).

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Use this reference data to define Construction Industry Scheme types.

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Use this reference data to define the cost code formats.

Cost codes are the combined full code allocated to the transaction and typically includes the cost centre and the account code, potentially with other defined parts such as a property code or free text.

This may be of particular use if the reactive commitment budgeting data is to be synchronised between K2 and a finance system, to ensure that K2 has the code formats required.

You can define up to seven parts to a cost code and pull information into each part from the Cost Centre, Chart of Accounts, Pre-Defined pick lists or free entry.

Note: You can select from the Delimiter drop-down to separate the cost code using various characters.

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Use this reference data to define statuses of credit notes (for example: In Progress, Complete and so on).

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Use this reference data to define a financial period within a financial year (for example: a month or a quarter within a financial year).

Note: Changes made to Financial Periods reference data will affect all modules using this reference data.

The fields on the Financial Period window are described in the following table.

This field	Holds this information...
Description	A unique description of the financial period. This field is mandatory.
Financial Year	The financial year. Note: These can be defined in Financial Years reference data (accessed by navigating to Functions > Core > Reference Data > Core).
Start Date	The start date of the financial period.
End Date	The end date of the financial period.
Status	The status of the financial period, whether it is open or archived. If archived, it cannot be selected in K2. Select from the drop-down list.

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Use this reference data to define statuses of invoices for accounts payable.

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Use this reference data to define methods of payment (for example: Visa, Mastercard and so on).

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Use this reference data to record predefined cost code structures to manage and organise the amounts, quantities, budgets, and other account information associated with jobs, orders and invoices in K2. Cost codes establish the link between your projects, jobs, tasks, and their related accounts.

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Use this reference data to group cost codes for reporting purposes, in order to view the spend on a particular code group.

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