Project Code Part

Hi,

If you have any plans to use IFS projects - that can be a pure finance project, or the more advanced project management type project, you must have a project code part with the project accounting functionality. 

You can always any time, have a project code part as described with function project accounting, and simply create a pure finance project set as no cap.  In that case, the project works simply like any code part value.   

The problem is business change all the time.  If you fail to set the code part for project as functional project accounting, you can’t change your mind later.  Sure, you can burn up a second code part later if needed, but it’s best to future proof by using the project accounting function.  

I would say that it’s always (maybe almost always) best to have a code part for project that has the function for project accounting. Then you have the best of both worlds where project X works like a simple code part value, and project Y has all the project accounting capabilities.  

Best regards, 

Thomas

Thanks for the detailed response - So if it has a Project Accounting capability - will it also function like a normal code part - or will something not work

A financial project with project type no cap, is essentially the same (in terms of function) as any other non-function code part such as cost center.  You lose nothing. It may take a second or two longer to set up the financial project as compared to a cost center only because it has a few options you would not use in that case. A second or two, should not sway a decision, as we can always make set up even faster, if that is a concern.