Question

finance work breakdown structure

  • 27 January 2022
  • 2 replies
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P
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Hi

We have a client legacy asset operations system that uses projects, work orders, operations transactions and work breakdown structures under projects. 

 

The operations transactions are basically executed work orders eg drawdown of inventory or time to perform a task. 

 

Each operations  transaction occurs against a work order. Each work order is linked to some part of the WBS which belongs to a particular project.

 

The system then translates the transactions into financial transactions and sends these to the GL system.  The financial transactions are cross referenced to the WBS and the work order. 

The legacy GL is to be replaced by IFS cloud. The operations system needs to interface to IFS. Can we replicate projects, wbs  accounts, financial transactions in IFS so that we match the legacy operations system? 

 

We were hoping to use the projects/sub projects/ activity code and put the WBS codes used in the operations system into the activity code. Can this activity code then be linked to the financial transactions, accounts, ledger so their is wbs traceability in ifs to transactions and work orders in the operations system? 

 

Thank you for your help in advance. 

 

 

 

 

 

 

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2 replies

A
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Hello,
Of course details to be analyzed, but in general GL transactions in IFS related to project always contain project activity sequence number, i.e. they are directly linked to project WBS. Work order object in IFS relates to asset defined as an object in IFS, but each WO can be connected to project (via activity) and financial transactions created on WO (time report, materials) inherit WO project activity connection. 

IFS principles then are matching your expectations, al you need then is to define translation details...

Regards, Adam
T
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Hi, 

Adam is spot on.  

The key within IFS is what we call an activity sequence.  An activity sequence is system generated number that is connected to a given activity.  As the WBS is moved / changed / other, the activity sequence for a given activity never changes. For example assume activity 1 activity seq 100000456. 

When the WBS changes and activity 1 is moved to a different sub project the activity sequence never changes.   

When we perform financial transactions against an activity the activity sequence is included within the data string so the cost / revenue (postings) flow to where ever this activity sequence is within the WBS. 

So, if we simply do a manual posting for account XYZ and Project Y we need the activity sequence 100000456 on that entry. 

In the below screen, you can see the activity sequence for a given activity (A) in this example. 

A manually created accounting posting can look like this as an example -  I’m only showing 1 side of the entry not a complete financial posting. 

Hope this helps, 

Best regards, 

Thomas

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