This activity is used to define project cost and revenue elements for a company. Cost and revenue elements are user-defined categories utilized in IFS/Project Management to break down costs and revenues for planning and follow-up purposes. Any object that reports any type of cost, revenue or hours to projects will report these values on these elements. The majority of objects use the posting control setup in the project company to determine which cost/revenue elements should be used to report values to project activities. Once the cost/revenue elements have been defined, they can be connected to code part values and setup in posting control.
Define any number of cost and revenue elements relevant to your projects.
Enable the Default option if you want the cost/revenue element to be the default for the current company. This is used for transactions related to code part values that are not connected to a specific cost/revenue element. One cost element and one revenue element can be defined as default.
Enable Default No Base Value if you want the cost element to be the default for all transaction postings with no value for the code part used as the base for cost/revenue element. This setting can only be enabled for elements of type Cost. To enable the Default No Base Value, select the cost element, then use the Toggle Default No Base Value button.
Enable Budget/Planning Only if you want the cost/revenue element to be used only for budget/planning purposes. This is required to plan on node level in the cost/revenue breakdown structure.
There are no prerequisites.