I want to set up posting control M62 to use the project ID to determine the appropriate general ledger account number and department to record the expense to. I can’t use any characteristic from the inventory part because the same part needs to be expensed differently if it’s being charged to an R&D project than when it is charged to a revenue project. I thought Cost Source would be the answer but that’s not working either. Does anyone have any suggestions?
Thanks.
Patrick
If you fail with M62 setup (I do not think there is control type related to project available there), you can try to set up automatic posting rule in Financials to reclassify costs to a different account, on the basis of project id and transaction code.
Thanks for the feedback Adam. Can you please elaborate? We have been on IFS for a year now and I’m sort of new to the financials.
Hi Patrick,
Herewith an example for usage of the Automatic Posting Rule.
It reposts row based on defined criteria, you can add information to the posting to realize the desired result.
GL Automatic Posting Rule is the only way to achieve this using core functionality.
The only other approach would be to create a new posting type that uses project ID as the control type, however, this would be a costly modification.
Go with the GL Automatic Posting Rule. The key to this setup is, that it will move transactions based upon voucher types and the original transaction accounting - including any corrections, and cancellations.
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