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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™, IFS/Accounting 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 Entry Automatic Balances Queries display the full revaluation history of an Structures Reports Postings Other account or an invoice. Transactions Transactions Voucher updates are conducted from a so-called IFS Report Generator 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 Generator™. 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. IF YOU NEED FURTHER INFORMATION, E-MAIL TO INFO@IFSWORLD.COM, CONTACT YOUR LOCAL IFS OFFICE OR VISIT OUR WEB SITE, WWW.IFSWORLD.COM.
"Multifaceted functionality of IFS General Ledger Egeria"