Funds is a solution within Promotions that aims to streamline your marketing processes by linking special fund promotions to existing rebate programs, while keeping the revenue and cost elements of the promotion separate.
This article will guide you through:
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Fund types
Fund types are the primary categorization of funds within Enable, and are similar to program lines having a program line type. Each fund type represents a specific class of funds and provides additional flexibility alongside an intuitive, simple way to see the category of each fund.
Channel admin users have access to the Config area and fund type setup within Enable.
To create a new fund type:
Step 1: Navigate to the Promotions module by clicking on the hub switcher icon (nine dots) in the top right and Promotions.
Step 2: Click on Config in the green banner at the top of the page.
Step 3: Click on Fund types in the drop-down menu. A table detailing every fund type will then be displayed on this page.
Step 4: Click the Add type button in the bottom-left corner to display a pop-up on the right side of the screen.
Step 5: Enter the following details:
- Description: Enter the name of the fund type. This should be a brief description of what the fund is or what it does.
- Default: If required, set the checkbox for the fund type to be the default type populated when creating any new funds. Tip: Use this if the majority of your funds use one particular type.
- Active: Set the checkbox if the fund type is currently active, or leave blank if it is inactive. When a fund type is inactive, it will not be possible to create new funds with that type. Note: If a fund type is made inactive, funds that have that fund type will be unaffected.
Step 6: Click Add at the bottom of the pop-up to save the fund type.
As long as Active was selected, you will now be able to select this fund type for your new funds.
Tip: Fund types can also be updated or deleted by clicking on an existing fund type row.
GL codes
GL codes (General Ledger codes) categorize the revenue or cost of the promotion fund within the general ledger. They can be set to either revenue or cost, which will determine how they’re used within a fund promotion.
To create a new GL code:
Step 1: Click on Config in the green banner at the top of the page.
Step 2: Click on GL codes in the drop-down menu.
Step 3: Click the Add code button in the bottom-left corner of the page.
Step 4: A pop-up will then display on the right-hand side of the page for you to complete the following fields:
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Description: Enter a name for the GL code. This should outline a brief description of what the GL code is or what sort of funds it relates to.
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Type: Select either Revenue or Cost to determine whether the GL code is used in the revenue or cost parts.
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Code: Enter the GL code itself to be used as an identifier.
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Active: Set the checkbox if the GL code is currently active, or leave it blank if it is inactive. When a GL code is inactive, it will not be possible to create new fund promotions with that code. Note: If a GL code is made inactive, fund promotions that have that GL code will be unaffected.
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Default: If required, set the checkbox for the GL code to be the default code populated when creating any new fund promotions. A separate default GL code can be set for revenue and cost GL codes.
Step 5: Click Add at the bottom of the pop-up to save the GL code.
As long as Active was selected, you will now be able to select this GL code for your new fund promotions.
Tip: GL codes can also be updated or deleted by clicking on an existing GL code row.
Unlock reasons
Unlock reasons are a set of potential reasons why a fund promotion may be unlocked for editing after it has been fully signed off.
To create a new unlock reason:
Step 1: Click on Config in the green banner at the top of the page.
Step 2: Click on Unlock reasons in the drop-down menu.
Step 3: Click the Add reason button in the bottom left corner of the page.
Step 4: A pop-up will then display on the right side of the page for you to complete the following fields:
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Description: Enter a clear reason as to why a promotion has been unlocked.
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Active: Set the checkbox if the unlock reason is currently active, or leave blank if it is inactive. When a reason is inactive, it will not be possible to select the reason when unlocking a fund promotion.
Step 5: Click Add at the bottom of the pop-up to save the reason.
What’s next?
Interested in creating a fund for your promotions? Learn how to raise one here.