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Financial Management workbench

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Financial Management workbench

The Financial Management workbench provides financial administrators with a graphical interface to allocate expenses.

Access the workbench through the Financial Modeling > Workbench module.

When you use the workbench to allocate expenses, you pass through the following stages:

Figure 1. Workbench stages
Workbench stages

The data cleansing stage will not be available in the Workbench stages if you do not select a data source in the Financial Model form, as there is no financial data source to pull the expense lines from. In this case, you can enter the groomed lines directly in the sub-buckets.

The Workbench tab

  • Data Definition: Select a fiscal period and cost model to work with. See The Data Definition stage.
  • Data Cleansing: Remove unnecessary financial expenses and put similar expenses in the same segment. This cleansing stage gives you the opportunity to tidy up expenses in the general ledger. See The Data Cleansing stage.
  • Bucketing: Group related expenses into customizable buckets. See The Bucketing stage.
  • Allocation Setup: Assign the buckets to accounts and segments that comprise the hierarchy of accounts, and create rules that govern how segments relate to each other. See Allocation Setup stage.
  • Review: Review the expense assignments you made, and then run the allocation engine to allocate expenses. See The Allocation Review stage.

The Cost Models tab

All cost models in the application. You can create a basic cost model from this tab and open, modify, or delete existing cost models. See The Cost Models tab.

The Configuration tab

General configuration settings, such as currency, the fiscal calendar, the main Financial Management report, and advanced actions that allow you to delete financial data. See The Configuration tab.

Browser requirements

If you are using Internet Explorer, use version 11 or later to use the workbench. You can also use any of the other generally supported web browsers.