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Finance Structure

Please see below guidance on how you can set up your Finance Structure, including VAT codes, and how to assign specific Departments to your Activities/Student Groups.

  1. Nominal Groups: Select ‘Nominal Group’ from the Finance Structure module and click ‘Create Nominal Group’;

    1. Name your Nominal Group e.g. ‘Charity’ - this will inform which Nominals are part of which company when you have set up your Nominal Codes;

  2. Nominals: Select ‘Nominals’ and click ‘Create Nominal’:

    1. Enter a Name;
    2. Enter the Code;
    3. Select the relevant Nominal Group from the dropdown menu;
    4. Select which applications on the Student Dashboard you would like the nominal to be available for members to select when adding their financial coding:
      1. Purchase Requests;
      2. Invoice Requests;
      3. Product Applications;

  3. Companies: Select ‘Companies’ from the Finance Structure module and click ‘Create Company’;

    1. Enter the company Code, i.e. 001;
    2. Enter the Name;
    3. Select the relevant Nominal Group from the dropdown menu;

    Note: Please ignore the additional information regarding servers.

  4. Cost Centres: Select ‘Cost Centres’ from the Finance Structure module and click ‘Create Cost Centre’;

    1. Enter the Cost Centre Code;
    2. Enter the Name;
    3. Select the relevant Company from the dropdown menu;

  5. Departments: Select ‘Departments’ from the Finance Structure module and click ‘Create Department’;

    1. Enter the Department Code;
    2. Enter the Name;
    3. Select the relevant ‘Cost Centre’ from the dropdown menu;
    4. Select if you would like this department code to be assigned to any Donations your SU may receive.

How can I assign specific Department codes to an Activity/Student Group?

If you would like your Activities/Student Groups to have a specific department code assigned to them, from where their income and expenditure will be mapped, you can do this via the ‘Activity Mapping’ section within the Finance Structure module:

  1. Click ‘Create Mapping’ and select:
    1. The relevant Activity/Student Group;
    2. The correct Department code;
    3. If applicable, select a relevant Nominal to be included;
    4. Select whether or not you would also like the department code to be available for Buy Back;
    5. As with your nominal codes, select which applications on the Student Dashboard you would like the department to be available for.

Note: If you would like to bulk upload your finance codes and structure, you can do this via the ‘Finance Structure Import’ tool available within the Import module. Have a look at our support guidance for further information: https://docs.sums.su/user-guide/finance/finance-structure-import-tool/

Updated on 22nd November 2022