When starting to use IFS, the code string information must be modified/completed, i.e., information on the code parts, code parts values and the functions connected to the code string. The code string information is used when financial transactions are created in the various components in IFS.
Code String
The products in IFS can use ten code parts, account and the free code parts B - J. The first code part is always used for saving information on account numbers while the other ones can be used for optional purposes. In Define Code String, specify which code parts the company will use and the name for each. Each code part is independent of the others and provides follow-up accounting in several dimensions. Before starting up the system, be sure to define the code parts and their values. This supports the accounting methods in the company. If IFS/General Ledger is used, you can specify a code part function for Project Accounting, Internal Elimination, and Currency Balance Accounting. If IFS/Fixed Assets is used, you can specify a code part function for saving information on the fixed assets. If IFS/Financials-Consolidation is used, you can specify a code part function for saving information on the consolidation.
When a company is created the code parts A-F are open for use. The user can rename the code parts by specifying an internal name. The internal name is then displayed in the pages where information on the code parts are entered or displayed, for example in Voucher in IFS/Accounting Rules and in GL Balance Analysis in IFS/General Ledger. If you need to use more code parts you can also open the code parts G-J.
In some components in IFS, for example in Work Order in IFS Maintenance, there is a need to identify specific parts of the code string. For this reason it is possible to connect a logical code part value to the code parts B-J. To code part A, only the logical code part value Not Used can be connected. A specific logical code part value can only be used on one single code part at the same time. If, for example, Cost Center is connected to the code part B, it is not possible to also connect Cost Center to code part D or other code part. This is not valid for Not Used, that can be connected to all code parts at the same time.
Decide also the number of characters to be used for each code part value and enter a description for the code part. The description is used when two companies are linked in IFS/Financials-Consolidation. The description of the code parts can be translated.
Chart of Accounts, Account Groups, Account Types
When a company is created you also get a chart of accounts, as well as a number of account groups and account types. Modify and complete them to suit your way of working. You can enter a note for each account. A note can be used for forwarding internal information to some one who will use the account later. The descriptions for accounts and account groups can be translated.
When a new company is created, default values are created for the account types. Use Account Types to enter default values for code part requirements. The page consists of the Default Code Part Demands tab and the Default Budget Code Part Demands tab. Code part requirements indicate how the code part, quantity, process code and text are used in the code string, i.e., if the code part is blocked for entry, if it is mandatory to enter a value in the field, or if it is possible but not mandatory to enter a value in the field. These values are default when entering accounts. The account types are predefined:
To change code part requirements for an existing account, select Account and enter the change for each individual account.
A proposal for the chart of accounts is created when a new company is created. Supplement the chart of accounts and check/modify for example the code part requirements for the account.
Account groups are used as a sorting and selection term in reports. You can also print subtotals per account group in reports. A set of account groups is created as default when a new company is created.
Code Part Values
After the code string has been defined you need to enter the code parts values for the code parts B-J. Use the Code Part Values page to enter, change, and view the values of the code parts. The Code Part Values page is divided into tabs, one tab for each code part. The heading of each tab indicates the code part name. You can select only the tabs that represent the code parts in use in the company. As a safety feature, you cannot delete or change the identity of a free code part having postings. You can limit the period in which a free code part can be used and enter a new free code part to replace the old one.
Code part B is usually used for Cost Center and you must then enter the identities for the cost centers. Depending on how the code string is defined you must enter code parts values also for the other code parts. You can enter a note for each code part. A note can be used for forwarding internal information to some one who will use the code part later. The description of the code part values can be translated.
Process Codes
The process codes are used when financial transactions are created via automatic posting rules in IFS/General Ledger. The process codes are also used when financial transactions are created in IFS/Periodical Cost Allocation.