Project Pre Posting

This is a feature designed to keep track of the expenses accumulated during projects. The intention is that you 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.

Preposting can be applied at project and subproject levels. If you intend to use the same code string on all sub-projects below the project node, enter an * in the Sub Project ID field. It is possible to make a hierarchy where you "overload" the project’s code string with an alternate code string for the subproject.

For connected objects, preposting 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, you can fill in the desired values for the code parts and build your own code string which can be used for preposting the project and/or subproject. All objects connected to a project should take advantage of this project-specific code string information.

Example of preposting: The selected project dimension will always have the Project ID, here we use 'F' dimension. If you add another line in the Project Pre Posting form, where you specify a Sub Project ID and a value, lets say the 'G' dimension the following thing will occure: when a purchase order is created and connected to an activity for this sub-project the preposting will be:

• Project ID in the project dimension. According to the table the Project ID is P1.
• Specified value in in the 'G' dimension. The value, defined in Accounting Rules, could for instance be a department code ranging from 1 to 10. According to the table the purchase order belongs to department 6.
• Plus values determined by the posting type. At least a value telling which account to use will be filled in. According to the table the account is called M01, which is defined as purchase orders.

Which columns to be used as account, project dimension and "value" dimension is defined in Accounting Rules.

Workflow

Creating: Preposting data is inserted into the tab-windows Project Basic/Company Pre Posting. All data inserted, except for the project and subproject identifications, can be changed later.

Modifying: Preposting 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.