Solved

Internal Ledger Code Part and Internal Elimination

  • 4 March 2023
  • 4 replies
  • 191 views
R
Rank
Userlevel 2
Badge +6
  • runise
  • Do Gooder (Employee)
  • 10 replies

Hi,

 

I would like to know why do we have a code part function ‘Internal’ when a page to include/exlcude IL code part already exists, what is the purpose of Code Part Function - Internal? and what is the difference between ‘Code Part Function - Internal’ and ‘Internal Code Parts’?

 

If I mark the Code Part Function as Internal, then will this code part not be used in GL?

 

And what is the Code Part Function - Internal Elimination used for? 

Thanks for your inputs.

 

Best regards
Rutuja

icon

Best answer by Ieva Rituma 6 March 2023, 09:47

View original

4 replies

Ieva Rituma
Rank
Userlevel 6
Badge +16

The code part internal is used for internal ledger only, but it isn’t used in the GL. This would be in a scenario where the company uses a general ledger and an additional internal ledger.

Typically the code parts are used for GL (where management accounting typically is done), whilst enabling some to be also used in the IL. Having a code part “internal” means we can use this code part only in the IL, without using it in the GL.

 

This is different to Internal Code Parts, because there we define which ones to use in the IL or not, whereas this allows to say which ones aren’t for the GL.

IRituma
R
Rank
Userlevel 2
Badge +6

Thank you very much, this clarifies. Could you also explain what is the Code Part Function - Internal Elimination used for? 

Best regards

Rutuja

Ieva Rituma
Rank
Userlevel 6
Badge +16

Internal Elimination is used for the Consolidated Accounts functionality, to hold the intercompany counterpart ID in support if intercompany eliminations. 

The consolidated accounts are not group consolidation, hence it’s not really used anymore for new customer implementations nowadays.

IRituma
R
Rank
Userlevel 2
Badge +6

Thank you very much.

Regards

Rutuja

Reply


Terms & ConditionsCookie settings