Multifaceted functionality of IFS General Ledger Egeria by liaoqinmei


									       I F S     A P P L I C A T I O N S             ™

       IFS/General Ledger

       The IFS/General Ledger module gathers and records                                  Multifaceted functionality of IFS/General Ledger
       all financial events from each division and subsidiary                             Budgeting can be completed on both an annual and
       within a corporate group and provides a solid basis for                            periodic level for all code elements. It is possible to
       financial analysis and reporting. This module, which                               create an unlimited number of simultaneous budget
       constitutes the hub of the IFS Financials™ solution,                               versions. A budget can be created based on the
       enables users to easily view information and generate                              results in the general ledger or from another budget
       reports.                                                                           version. Budgets can also be exported to and imported
           By using a unique module called IFS/Accounting                                 from other tools, such as Excel. Simulation functions
       Rules™, you can implement the same rules for creat-                                are easily retrieved by applying percentage increases
       ing financial transactions in all modules throughout                               and decreases to any chosen code element combination
       IFS Applications™. Transactions are transferred via                                and/or budget versions.
       the hold table in IFS/Accounting Rules from the                                        Project accounting is based on any chosen code
       ledgers in IFS Financials or directly from modules in                              element from the code string. The project can be of
       IFS Distribution™, IFS Manufacturing™ or                                           the following types: expense, capitalization or profit
       IFS Maintenance™.                                                                  settlement. Projects can be followed up in queries
           The accounting process is thus divided into two                                and reports over any given time period—even several
       components:                                                                        years—and can be compared with any budget version.
                                                                                              Currency handling is easy with IFS/General Ledger.
       • IFS/Accounting Rules, which contains the rules for                               All necessary currency information is provided on a
         how a company defines code elements and basic                                    transaction level, including the transaction currency,
         financial data. The system automatically handles                                 exchange rate and amount. The system also enables
         coding of recurring transactions, which simplifies                               the storage of optional currency balances. As an extra
         routines and increases accuracy. Manual vouchers                                 option, the system can automatically calculate and
         can also be created in IFS/Accounting Rules.                                     store a parallel accounting currency, typically used
       • IFS/General Ledger, which contains the general                                   to display Euro equivalents. Sophisticated currency
         ledger and enables all financial reporting and follow-                           revaluation functionality allows calculating and posting
         up, in addition to budget registration and follow-up.                            of currency gains or losses. The revaluation can be
                                                                                          applied on transaction or balance level and different
                                                                                          rules can be defined for IFS/Accounts Payable™,
                                        Budget                                            IFS/Receivable™ and IFS/General Ledger. The reval-
    Rules                                                                     Queries
                                                                                          uation process includes the creation of a proposal,
   Manual                                                                                 posting, automatic reversal and rollback facilities.
                                   IFS/General Ledger
                                                                                          Queries display the full revaluation history of an
                                                                Structures    Reports
    Other                                                                                 account or an invoice.
                                                                                              Voucher updates are conducted from a so-called
                                                                             IFS Report
                                                                                          hold table in IFS/Accounting Rules. All vouchers
                                                                                          generated in any of the modules are placed in the
                                                                                          hold table. They are then updated to the general
                        Project        IFS/Fixed         Periodic Cost
                      Accounting         Assets           Allocation                      ledger and the data contained is verified. Under the
GENERAL LEDGER, THE HUB FOR ALL FINANCIAL INFORMATION                                     right conditions, automatic coding allows you to
                                        I F S   A P P L I C A T I O N S        ™

                                        IFS/General Ledger

                                        create new transactions from existing ones using a                                   It is also possible to create internal ledger transactions
                                        predefined rule. After being updated in the general                                  only. To obtain appropriate accounting information for
                                        ledger, the item is fully traceable and the user can see                             each purpose, it’s possible to combine IFS/Accounting
                                        where the transaction has originated, how it was created                             Rules, IFS/Fixed Assets and IFS/Periodical Cost
                                        and if it was affected by any automatic functions in                                 Allocation with specialized internal posting methods.
                                        the updating routine, such as automatic coding.                                      IFS/Report Generator can be used to create reports
                                            Structures enable your company to construct a                                    based on management accounting information.
                                        model of your operations, using any code element,
                                        in order to perform financial analyses per cost center,                              IFS/Periodic Cost Allocation™
                                        product group or any other code element. An organi-                                  With the IFS/Periodic Cost Allocation module,
                                        zational structure based on a cost center, for instance,                             automated procedures enable a complicated accounting
                                        can be followed up at different levels. The structure                                process to be done in minutes. For example, indirect
                                        serves as a filter that enables information to be pre-                               costs, such as marketing expenses and rental charges,
                                        sented in queries and reports according to user pref-                                can be efficiently allocated using fixed or variable
                                        erences.                                                                             allocation keys and factors. These allocations result
                                            Query and report user access can be decentralized in                             in the creation of new transactions that will update
                                        both the general ledger and the hold table. Information                              the general-/internal ledger or a budget version. This
                                        is nevertheless available only to users with the proper                              can be performed in any number of steps. Selections
                                        access authorization. Queries can be generated for                                   can be done with the same flexibility as with the
                                        examining vouchers, transactions and general ledger                                  IFS/Report Generator by using, for example, any of
                                        balances, as well as for comparing outcome with                                      the code elements or structures. With its complete
                                        budgets. With the zoom function, balances can be                                     rollback possibilities, IFS/Periodic Cost Allocation
                                        drilled down to the transaction level or even back to                                can also be used as a powerful simulation tool.
                                        the source of the transaction. A number of
                                        fixed reports based on transactions and
                                        balances are available. Additional
                                        reports can be created using IFS/Report

                                        IFS/Internal Ledger™
                                        The IFS Financials system can handle any
                                        number of internal ledgers in parallel to
                                        the general ledger. These internal ledgers
                                        can be used for various management
                                        accounting purposes, such as cost &
                                        profitability management, control of
                                        processes & activities, costing or value
                                        based management. General ledger and
En0604-2 Production: CMC, April 2004.

                                        internal accounting information can be
                                                                                                    MULTI-DIMENSIONAL ANALYSIS OPTIONS LET YOU DRILL DOWN TO BALANCE
                                        extracted from the same transaction, but                    AND TRANSACTION DETAILS ALL THE WAY TO THE ORIGINAL TRANSACTION IN
                                        they are created and stored separately.                     THE SUBLEDGER

                                                                               THIS DOCUMENT MAY CONTAIN STATEMENTS OF POSSIBLE FUTURE FUNCTIONALITY FOR IFS’ SOFTWARE
                                                                               PRODUCTS AND TECHNOLOGY. SUCH STATEMENTS OF FUTURE FUNCTIONALITY ARE FOR INFORMATION
                                                                               PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS ANY COMMITMENT OR REPRESENTATION.


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