Finance Reference Data

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).

Use this reference data to define Construction Industry Scheme types.

Use this reference data to define the cost code formats.

Cost codes are the combined full code allocated to the transaction and typically include 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.

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

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

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

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. 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.

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

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

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.

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