Financial Tab

IT Asset Management (Cloud)

This tab helps you track information for management purposes. Most fields on this tab are optional, and do not affect any license calculations or other relationships.

The one exception is in the Cost details section. The unit price may be used to estimate your exposure or over-expenditure on a license, and it is best practice to complete this value on purchases. (For those calculations, the most recent linked purchase is used to set the unit price, which is multiplied by the installed count of the matching application.)

The following controls (in alphabetical order) are available:

Invoice date

The date recorded on the invoice related to this purchase.

Invoice number

The identifying code for the vendor's invoice, settlement of which completes this purchase transaction.

Copy the invoice number from the vendor's invoice. This is for record keeping for your audit trail, and has no impact on any automation.

Item sales tax

The sales tax (if any) applicable to this purchase.

If any tax applies to this purchase, enter the amount charged here. By default, the currency displayed is your personal preferred currency (or, in its absence, the preferred currency for your enterprise). For financial audit, you may prefer to enter the amount in a different currency, such as the currency in which the tax was charged (so that the exact amount is recorded without any currency conversion applied). For information on choosing different currencies and exchange rates, see Currency Settings and the topics linked there.

Tip: If the tax is shown against the entire invoice rather than broken up for individual line items, best practice is to manually distribute the total across taxable items in the purchase order. Keep in mind that this is a tax figure for the individual purchase.

Item subtotal

The value of this purchase excluding tax, shipping, and handling.

Not editable. This is the product of the Purchase quantity (recorded in the General tab for this purchase) and the unit price (recorded in the Quantity amount at unit price field immediately above).

Tip: The quantity value in the field above is a hyperlink to switch to the General tab, in case you need to modify the purchase quantity.

Quantity amount at unit price

The unit price for each of the purchased item(s).

Enter the value of each item in the purchase (for example, if you purchased 10 license packs for a total of $12,300USD, the unit price is $1,230USD). By default, the currency displayed is your personal preferred currency (or, in its absence, the preferred currency for your enterprise). For financial audit, you may prefer to enter the amount in a different currency, such as the currency in which the price was paid (so that the exact amount is recorded without any currency conversion applied). For information on choosing different currencies and exchange rates, see Editing Money Values.

Tip: The quantity value displayed in the prompt is a hyperlink to switch to the General tab of these properties, in case you need to modify the purchase quantity.

If the purchase order or invoice shows a unit price before sales tax and shipping/handling costs, use that base unit cost as the value here. In the following fields, you can enter the total sales tax and the total shipping costs to calculate a total price that can be cross-checked against the invoice.

Shipping and handling

The shipping and handling cost that are applicable for a purchase.

Enter an amount for shipping and handling costs applicable to this purchase.

Tip: Where an invoice includes shipping and handling costs against many items, you can apportion them as you see fit across the items invoiced together.

Shipping date

The date of dispatch from the vendor. Use as appropriate to your processes, as this does not affect automation or compliance calculations.

Enter the date the goods were (or are planned to be) shipped from the vendor, or click the calendar icon to select the date from a calendar.

Shipping location

The location (or office) within your enterprise that is to receive (or received) the purchased item.

Use the search mechanism to identify the location in your enterprise. The location must already exist in your records (otherwise, go to the IT Asset Locations page).

Total price

The overall cost of this purchased item, being the sum of:

• Item subtotal
• Item sales tax
• Shipping and handling.

Not editable.