Financial Organization

The Financial Organization field is used to indicate that an Organization is a Financial Organization.  By "Financial Organization" we mean an Organization that you will be able to report on in your financial statements.  Generally speaking, a Financial Organization is going to be any Legal Entity (or sub-division of a Legal Entity) that you would like to track costs or income for financial statement purposes.  

When enabled, the organization is available for use in transaction entry and will display in internal financial and project reports.  These organizations can be used to set up entities such as departments, regions, divisions, etc. within Unanet.

In the Org List, this field will contain a check mark if the current Organization is defined as a Financial Organization.

Establish a Financial Org

Establishing an organization as a Financial Organization is done on the Organization >> Edit >> Financials tab (Financial Organization field along the top of the screen).

Note: Once an Organization has been configured as a Financial Organization, that setting can never be unchecked.

To enable the use of Unanet Financials organization functionality, you will need to enable the Use Financial Organizations (unanet.financials.use_financial_orgs) property.

Financial Organization without Unanet Financials License

The concept of Financial Organizations can be useful even if you are running a non-Financials version of Unanet. For example, if you are using Billing and Costing (without Financials license), you could take advantage of the Posting Group features that would capture the appropriate accounts in order to send Journal Entries or Revenue to downstream systems.