Hi,
I’m sorry, not following the request / question.
If the question is … Can IFS capitalize / not capitalize project transactions based on the activity? If that’s the question, then yes.
For example, project 101, and activities A and B. Cost for activity A can be capitalized, and cost for activity B can be realized (no cap). The setting is at the activity and is supported only for the periodic capitalization option.
I may have misunderstood the question.
Best regards,
Thomas
Hi,
In reading the postings again, “maybe” the question relates to the ability to create multiple FA objects.
In the periodical capitalization process, we can perform partial project completions and assign the different values to the different FA object transactions. For example, assume a 100K project capitalization. We choose to create FA 1 and FA2 both for 20K. In project completion we have two records in the lower part of the screen for the FA 1 and FA2 for the 20K. That would be a partial completion. You would need to review project cost to determine the actual values that represent FA 1 and FA2. Ideally different activities (or take cost /2).
Best regards,
Thomas
Hi Thomas,
Thanks for your response. I was looking for the flexibility to capitalize an activity. Thanks for sharing the periodic capitalization process.
Yes, we can capitalize a subproject 100% to an FA object at instance1 and then keep changing the reposting rule to update the FA object (At the next instance of subproject closure for its capitalization to a different FA object).
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Sub Project 001 closure on 01-06-2024
Reposting Rule
Distribution % - 100, FA Object - 001
Sub Project 002 closure on 01-07-2024
Reposting Rule
Distribution % - 100, FA Object - 002 (manual update from 001 to 002)
---------
However, this process is a bit cumbersome, as the user will have to keep manual track of the FA objects and the sub projects to keep updating the reposting rule.
The idea/request was to see if IFS can allow for capitalization of activities (instead of subprojects) where Capitalization Posting Method - Transaction is used as well.
There should be a possibility to map the activity and FA object directly instead of manually updating the reposting rule at every instance of capitalization.
Ex: Reposting Rule-something like below
Distribution % - 100, Activity Seq.-XX1, FA Object - 001
Distribution % - 100, Activity Seq.-XX2, FA Object - 002
Thank You!
Hi,
The transaction-based capitalization process does not support what you're asking.
If we work with the system, the partial completion does not require - predefined reposting rule. If we know a given activity is complete and the FA object is ready to be placed in service (meaning work is done) we can simply perform a project completion noting the amount to be moved to the fixed asset. It does not need to be predefined. Enter the accounting string and amount.
That is … without mods.
With minor tweaks, maybe you can present the data needed by the user during the partial project completion.
Best regards,
Thomas
