This activity is used to define how the company uses code parts when creating financial transactions. The products in IFS can use 10 code parts and 10 additional code parts. This mandatory task is to be performed by a system administrator or equivalent person.
One or more code parts can be used for creating postings. Each code part has an internal part, which can be translated.
Code part A is always the account code part used in the general ledger. It must always be available for use.
Code parts B-J are optional and can be defined by the user. Depending on the components, an optional code part can be used for a special function, such as currency balance, internal elimination, FA accounting, project accounting, consolidation, or internal. These code parts can be specified as available or not available in the company. An unused code part must be disabled in the Account page or in the Account Types page.
Logical code parts, available when IFS Maintenance or IFS Engineering are used, allow you to connect logical code part values, e.g., Cost Center, Project, or Object, to code parts B-J. If Project Administration is used in IFS Engineering, the Code Part Function field must be set to Project Accounting and the Logical Code Part field must be set to Project. The logical code part value, Not Used, can be connected to all code parts at the same time, and is the only acceptable value for code part A. It is also possible to select a code part value to be used as the base for project cost/revenue elements. A code part value which is set as the base for project cost/revenue elements must not have a code part function connected to it.
Additional code parts should be used in a Master Company for Group Consolidation. There is a total of 10 additional code parts, out of which K, L and M are system defined and used as counterparts in the Group Consolidation process. Counterparts are used to eliminate the internal transactions of a group of companies. Code parts N to T can optionally be used internally in the master company for group consolidation, e.g. for reporting of non-IS/BS related information.
This activity has the following prerequisite:
As a result of this activity: