Enter Project Pre-posting

Pre-posting is designed to track the expenses accumulated during projects. The intention is that to design a default code string where the code parts are present in IFS/Accounting Rules. This code string will be used in IFS Financials and the project can be pre-posted.

For connected objects, pre-posting will insert the first subproject's code string or, if none is found, the project’s code string from *2 into *4. Companies and alternative code parts must be registered in IFS Financials. Once this is done, the desired values can be filled in for the code parts to build own code string which can be used for pre-posting of the project and/or subproject. All objects connected to a project should take advantage of this project-specific code string information.

When manually connecting a project activity to an object, if pre-posting on the code part already exists, they will be replaced by the project pre-posting. If the project pre-posting has no value for a code part then the existing pre-posting on the object will remain unchanged. Also the project and activity sequence will be posted.

If the project connection is automatic, child object will inherit parent object's pre-posting values on the code part rather than fetching code part values from project pre-posting in object conversion.
E.g.: If a demand is initiated from a project, Purchase Requisition will fetch code part values from project pre-posting. When converting Purchase Requisition to Purchase Order, pre-posting of code part values in Purchase Requisition will be inherited to Purchase Order rather than fetching code part values from project pre-posting.

Creating: Pre-posting data is inserted by using Project Setup Parameters/ Pre Postings. All data inserted, except for the project and subproject identifications, can be changed later.

Modifying: Pre-posting information is normal data and can be edited for a running project. Therefore, changes made in this information will affect the results that occur in IFS Financials.

Removing: Before you remove a code string, ensure that affected data in IFS Financials is considered obsolete and, therefore, invalid. Also, be sure that the code string is not being used by an active project.