Configuring Financial Positions

A Financial Position is a grouping of related Financial Accounts and/or Positions that helps in categorising and analysing financial data. It provides a structured way to view and manage account balances by consolidating multiple accounts under a common category. Financial Positions are essential for tracking overall financial health, simplifying reporting, and ensuring a clear view of aggregated balances within a Financial Dataset. 

The Manage Financial Positions console contains a list of Financial Positions configured in BMC Helix Portfolio Management and provides functionality to add, remove or modify Financial Positions. This console is accessible to the user with the Financial Master role. 

To support standard financial reporting practices, the system comes with commonly used Financial Positions such as Costs and Earnings. These predefined positions provide a ready-made structure for grouping expense-related and income-related accounts, enabling organisations to begin categorising financial data immediately.

To access the Manage Financial Positions console

1. Log in to BMC Helix Portfolio Management and click Settings .
2. Select Financial Management.
3. Go to Financial Positions. The console will have the list of Financial Positions, if created already. 

To create a Financial Position

1. Log in to BMC Helix Portfolio Management and click Settings .
2. Select Financial Management > Financial Positions.
3. Click +New to add a new Financial Position and fill in the following details:

Field	Description
Position Name	A unique name that identifies the Financial Position and represents a group of related accounts.
Sequence Number	Defines the order in which the Financial Position appears in the list.
Detailed Description	A brief explanation of the Financial Position’s purpose.
Summarization	Determines whether the Position balance entries associated with this Financial Position should be displayed in the Summary and Positions tabs within the Financials section of Portfolios, Projects, and Demands.
Consolidating Financial Position	If applicable, specifies a higher-level Financial Position under which this position is grouped for hierarchical financial reporting.

4. Click Save.

To Modify/Edit a Financial Position

1. Log in to BMC Helix Portfolio Management and click Settings .
2. Select Financial Management > Financial Positions.
3. Click on the name of the Financial Position or select the row and click on the Edit (Image) button. This will show you the details that you provided while creating the Financial Position and additional tabs to configure relevant details.
4. Follow the instructions in the table below to modify the Financial Position.  

Action	Steps
To edit the details provided while creating the Financial Position	In the Edit Financial Position blade, change the details in the respective fields as per the requirement.
To see the Consolidated Accounts relevant to the Financial Position	In the Edit Financial Position blade, go to the Consolidated Accounts tab.
To see the Consolidated Positions relevant to the Financial Position	In the Edit Financial Position blade, go to the Consolidated Positions tab.

5. Click Save.