Hi. My name is Harrison, and in this video, I will show you how to configure the contract and asset dimensions in IT Planning.

As an Admin or Budget Process Owner, you use the Reference Data component in IT Planning to upload and manage built-in and custom dimensions, and their attributes as well.

Dimensions are the essential data categories in budget line items. They are the custom data you use to capture and report on the additional budget details you need to manage your budget process.

In the Summary view, Budget owners can select any of the dimensions to view the composition of the budget spend in the Treemap chart, also known as the Heatmap chart, and the Waterfall chart.

In the Expenses view, dimensions are represented as columns that allow Budget owners perform standard column actions, such as grouping and sorting the data in the Expenses table.

To display the Reference Data dimensions view, click the Component menu and select Reference Data.

IT Planning displays the built-in and custom dimensions. You can directly edit some values of a few built-in dimensions, and then publish them to make it available for budget planning.

First, let’s configure the Contract dimensions. Configuring the Contracts dimensions helps IT Leaders get a view of all vendor contracts, including amortization, renewals, and budget increases.

We’ll begin with the Contract Type dimension.

A meaningful contract type name can help Budget Owners allocate their contract expenses to the correct GL account codes. For example, contract types with names, such as "Professional Services" and "Hardware Maintenance" can all map to the same "Vendor Services" GL account code.

You can also define rules specifying that a given contract type always accrues to a specific OPEX account. The Account field options are provided by the Chart of Accounts reference data.

Besides, you can also specify the amortization method for a given contract type. IT Planning supports the following amortization methods:

• Straight Line Even Periods
• Straight Line By Duration
• Straight Line Prorate First and Last
• Straight Line Using Calendar Days

To download the Contract Type template, you click Export Template at the upper right corner of the screen. The template is downloaded as a dot csv file, which you can edit as per the requirements. You can also export the data in the table to a dot CSV file, make changes to this file, and then import the file by clicking Import.

If the data is ready to be made available to the plans, you click Publish. If you need to make some changes to the data before publishing it, you click Revert.

You can also add custom attributes to the Contract Type dimension.

You can add a new column heading, that is the custom attribute’s unique identifier, and the per-row data to the right of the column already in the dot csv file. After saving the file, you click Import New next to the Contract Type dimension to import the dimension’s data.

If the information in the table is ready to be made available to the plans, click Publish. Click Revert to undo the changes you’ve made to the table.

Next, we’ll configure the VAT Rates dimension.

IT Planning can calculate the Value-Added Tax, also known as the Goods and Services Tax, based on the contract line item’s location value.

In the VAT Rates table, you can specify a VAT rate specific to a location. Note that you must update your Location dimension's reference data to include all locations for which you plan to enter a VAT rate before you import the VAT Rates reference data.

Just like with the Contract dimension, you can:

• export a template
• export the table to a dot csv file, make changes as per the requirement, and then import it back to IT Planning
• edit the columns in the table

Once you are ready with the data, you click Publish or click Revert to undo the changes.

Finally, we’ll configure the Asset Class dimension.

You can use the asset class rules to control how capital asset purchases and depreciation are accounted for in OPEX and CAPEX budgets.

For example, you can specify that a given asset class always accrue to a specific CAPEX purchase account and OPEX depreciation account. IT Planning supports the straight-line or double declining depreciation method, which can be used to calculate the standard depreciation lifespan of an asset class and the percentage of purchase price as residual value for the asset class

To download the Asset Class template, you click Export Template at the upper right corner of the screen. The template is downloaded as a dot csv file, which you can edit as per the requirements. You can also export the data in the table to a dot CSV file, make changes to this file, and then import the file by clicking Import.

If the data is ready to be made available to the plans, you click Publish. If you need to make some changes to the data before publishing it, you click Revert.

You can also add custom attributes to the Asset Class dimension.

You can add a new column heading, that is the custom attribute’s unique identifier, and the per-row data to the right of the column already in the dot csv file. After saving the file, you click Import New next to the Asset Class dimension to import the dimension’s data.

If the information in the table is ready to be made available to the plans, click Publish. Click Revert to undo the changes you’ve made to the table.

That was a quick walk through of configuring the contract and asset dimensions in IT Planning.

Thanks for watching!