Materiality Assessment

Materiality Assessment

Introduction

The page displays Account Heads with a dropdown arrow. Clicking the arrow reveals additional information as given below:
  1. Description
  2. Quantity (QTY)
  3. Current Financial Year (FY)
  4. Previous FY
  5. Changes in Amount
  6. Changes in Percentage
To the right of the Account Head, the transaction path can be followed from Fund Dashboard > Process to View. Please note that all information on this page is for viewing purposes only.

How To Add Materiality

Step 1:- Once you have a login to the portal, click on Admin > Materiality from the left-hand menu. 
OR
Step 1:- You can also go to the Fund Dashboard > Fund Summary > Materiality > Materiality Assessments.

fund-dashboard-materiality-materiality-assesment

Step 2:- From the appearing page, click on Edit and the edit option will be enabled now. You can make changes as per the information mentioned above.
 
asmin-maeriality-edit

  1. You can select Base between the three following options:
    1. Assets
    2. Member Entitlements
    3. Amount

select-base

  1. You can select Class between the three following options:
    1. Income
    2. Expenses
    3. Payables

classes-of-balance

  1. For Trivial Balance, you can select Base between the three following options:
    1. % of Overall Materiality
    2. % of Account Balance

select-base

  1. You can also select between the four following options:
    1. Total Income
    2. Net Profit
    3. Total Expenses
    4. Net Liabilities

select


Notes
Note:- More than 3 rows can not be set for Classes of Balances.

Step 3:- You can click on Add Row icon to add the row

add-row

Step 4:- You can delete the row by clicking on the Delete Row icon.



Step 5:- Once done with the changes, hit Save.

save

To learn more about the process, explore best practices, and make the most of our features, please visit our Knowledge Base. Contact our Support team if you need any assistance.

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