Finance

Settings > Finance

The Finance sub menu allows the set up and maintenance of the following features in MRI Evolution.

Icon	Feature	General Overview
	Cost Centres	Cost Centres are used to represent financial allocations and spend within an organisation.
	Cost Codes	A Cost Code is an element of Cost within a Cost Centre that budgets can be tied to.
	Suppliers	Suppliers are used to supply Contract Divisions, supply Resources, and /or supply services and goods.
	Supplier Categories	Suppliers can be grouped using customised Categories. These can be used to identify appropriate Suppliers for specific works.
	Supplier Status	Available from 5.3.0.0 MRI Evolution allows Suppliers to have a status connected to them. This allows Suppliers to be passed to History if no longer in use, or Suspended if they are not being used temporarily.
	Tax Codes	Many of the finance related features of MRI Evolution can take into account Tax or VAT codes.
	Finance Codes	Finance Codes are used to set up a list of valid financial codes for use within the Purchase Order Module.
	Reference Codes	Reference Codes allow an organisation an additional level of filtering by applying an organisation specific reference to a Purchase Order
	Payment Codes	Payment Codes provide a list of possible payment methods that can be applied when Payments are recorded against a Purchase Order.
	Accounting Periods	The Accounting Preferences will automatically set up Accounting Periods for Cost Centres. The names and dates of the Accounting Periods can be edited and changed from this grid.
	Posting References	Posting References are used to tie financial fields back to Tasks, Purchase Orders and Stock.
	Reference Groups	Reference Groups are used to group together financial information for Cost summary details within Cost Centres.
	Rebuild Costs	Rebuild Costs allows budgets to be recalculated for Cost Centres. This is only required to be done when mass data updates have been done in the database.
	Accounting Preferences	Accounting Preferences set up future Accounting Periods on mass to allow budgets to be set for Cost Centres.
	Schedule Of Rates Category	Available from 5.8.1.0 Schedule of Rates Categories can be used to help filter when applying a Schedule of Rates to a Task.
	Schedule Of Rates Sub Category	Available from 5.8.1.0 Schedule of Rates Sub Categories can be used to help filter when applying a Schedule of Rates to a Task.
	Master Schedule Of Rates Groups	Available from 5.8.1.0 A Schedule of Rates (SOR) is a price guide for estimating, tendering and contracting works. If an organisation uses set prices for completing similar works regardless of Location they are using a Schedule of Rates e.g. Charging the same rate in any Location for Building 1m² of red brick wall.
	Master Rates Cost Matrix	Available from 5.8.1.0 Schedules of Rates can be auto-assigned to Tasks via Instruction Sets, the Costs can then be auto-calculated and populated using the Master Rates Cost Matrix.
	Schedule Of Rates Preferences	Available from 6.0.1.0 The Schedule Of Rates Preferences are used to modify the behaviour of adding Schedule of Rate Items to Tasks.
	Recoverability Types	Available from 6.1.0.0 Recoverability Types relate to the recoverable expenses a landlord can pass on to tenants in real estate. They are applied to Purchase Orders and Task Actions in order to associate the PO/Task Action to the expense it relates to.