Feature Friday Financial Management

Feature Friday: Creating a Funding Source

Matt Duda

2 min read

Last updated on September 20th, 2023 at 10:24am

Because the vast majority of the cloud is pay-as-you-go, controlling and understanding cloud costs is a priority for many organizations. Kion helps you to control your cloud costs through budgets and financial enforcements, but these only help you track your spend against a budget and prevent overspending. The next step is understanding what money was spent, who spent it, and what was it spent on. This is where funding sources provide a crucial role in helping you gain insight into your cloud spend. A funding source represents a specific stream of money in your organization. Funding sources can be made available to the entire organization or be attached to specific OUs, limiting their use to projects descending from selected OUs. This allows you to attribute spend across cloud providers and departments to a specific source of funds.

Creating a New Funding Source

To create a new funding source:

  1. Navigate to Financials > All Funding Sources.
  2. Click Add New.
  3. Enter the Funding Source Name. This name must be unique among funding sources.
  4. (Optional) Enter a Description of what the funding source is meant to be used for or where the funds are coming from.
  5. Select at least one user or user group as the funding source owner.
  6. Select a Funding Period. Funds in this funding source will be active and available to projects during the selected time.
  7. Enter the Amount of funds in this funding source. This can be increased or decreased by editing the funding source at any time.
  8. (Optional) Select specific OUs that can use this funding source. If you select a parent OU, any descendant OUs and projects can use this funding source. If no OUs are selected, this funding source will be available to any project in your organization.
  9. Click Create Funding Source.

You can read more about additional configuration options by visiting our support documentation.

If you'd like to see a demo of how Kion can help you with understanding your cloud costs, as well as our full suite of Financial Management features, please request a demo here.

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About the Author

Matt Duda

Matt is the brand experience manager at Kion.

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