How to move Finance Items Between Groups in Upmetrics?

Managing your financial data effectively is crucial for maintaining clear and accurate financial records. Upmetrics offers a flexible system that allows you to rearrange your financial data by moving items of Cost of Sales (COS) or expenses between groups.

This feature is particularly useful for adapting your financial reports to changing business strategies or organizational structures.

This guide will walk you through the steps to seamlessly move an expense or COS item from one group to another, helping you keep your financial plans both organized and adaptable.

Steps to move finance Items:

In Upmetrics, organizing your financial data is straightforward and flexible. Whether you're dealing with Cost of Sales (COS) items or expenses, you can easily move these items from one group to another to better reflect your business operations and financial reporting needs.

Moving COS Items from One Group to another:

1

Open the Finance Forecasting module and within it, click on the 'Cost Of Sales' tab to view all the COS items listed under various groups.

2

Locate the COS item you wish to move. Each item has a three-dot menu icon on its right side.

Click on this icon to expand the menu. From the menu, select the ' Move to other group' option.

3

This will open a new dialogue or a dropdown menu displaying available groups.

4

In the popup or dropdown menu, you will see a list of all created groups that you can move the item to. Select the group where you want the COS item to be relocated.

5

Once you select the new group, click on the “Move Item” option. Upmetrics will automatically update the item’s placement and recalculate any financial metrics associated with the move. Review the updated group arrangement to ensure everything is organized as intended.

Necessary Highlight:

When reorganizing your finance items between groups in Upmetrics, it's crucial to understand certain restrictions that apply to revenue-specific cost items.

If you have configured costs using the " Per unit sales" or "% of revenue" options, these items are not movable between groups due to their unique dependencies:

NOTE: If the COS item is dependent on another item or group (e.g., derived calculations or linked items), you might receive a notification stating that the item cannot be moved independently. In such cases, you may need to consider moving the parent item or adjusting dependencies first.

• Per Unit Sales: This option is directly linked to the units that are configured or sold within specific revenue streams. Because it depends precisely on the sales volume of that particular product or service, moving it to another group where the unit sales configuration does not apply would disrupt the accuracy of your cost calculation.
• Percentage (%) of Revenue: Similarly, costs calculated as a percentage of revenue are inherently tied to the total revenue figures of their original group. Moving these costs to a group with different revenue configurations could lead to incorrect financial reporting, as the base revenue figure might differ.

Moving Expense Items from One Group to another:

1

Open the finance forecasting module and here click on the “ Expenses” tab to view all categories and items listed under your operating expenses.

2

Find the expense item that you want to move. Click on the three-dot menu icon to access more options.

3

Here, select ' Move to another group' from the dropdown menu. This action will trigger a popup window showing available groups to which the item can be moved.

NOTE: If the selected item is dependent on another item or a specific calculation within its current group, you may encounter a warning stating that it cannot be moved independently. In such cases, you need to either move the parent item or adjust the dependencies first.

4

Choose the appropriate group where you want the expense item to be relocated. Confirm the move by selecting the new group and clicking ' Move Item'.

Upmetrics will automatically update the organization and calculations related to the moved item.

TIP: The functionality to move finance items between groups in Upmetrics extends to other financial sections like Funding, Assets, and Dividends. You can also set up and customize groups, adding or moving items to better align with your financial strategy.

However, it's crucial to note that items dependent on other items cannot be rearranged independently due to their interconnected nature. 

Ensuring Flexibility in Financial Management Successfully moving COS and expense items across groups in Upmetrics enhances your ability to adapt financial reports to reflect real-time operational changes. By following these simple steps, you can ensure that your financial data remains organized and responsive to your business's evolving needs.