@andrei.borromeo, I’ll send you a direct message.
Hi @andrei.borromeo,It's great to hear that you're considering implementing the suggestions provided. Regarding your queries:A feature that automates inter-company revenue recognition so that the POC revenue of the supply company is posted automatically as cost in the customer company would be very valuable indeed. It would ensure timely and consistent recognition of revenue and cost across the related entities and provide an audit trail of the inter-company transactions. Unfortunately, IFS lacks a built-in solution for this process, even the latest version of IFS Cloud, and I am not aware of any future development activities that would address this demand. In our current process, manual voucher entry is made at each month-end at the customer company to recognize cost and liability. The manual voucher is created right after the supply company has finalized its POC revenue recognition. We are using Periodical posting method to help the synchronization. The screenshot you provided show
Hi @Caroline G,It sounds like you're encountering an issue with the Cash Flow Forecast not fetching the latest changes, although the sources are defined correctly.While it may seem self-evident, it's worth noting that, updating the Cash Flow Analysis before defining the Cash Flow Forecast is crucial.The process involves collecting cash flow information from specified companies based on a selected analysis ID. However, if the analysis hasn't been updated with the latest data, it won't reflect future projections accurately.I hope this helps clarify the process! Let me know if you have any further questions or if there's anything else I can assist you with.Best regards,Lauri
Hi @Dharshankumaar Mahendran,This seems self-evident, but it's worth noting that in addition to @Ieva Rituma’s advice, updating the Cash Flow Analysis before defining the Cash Flow Forecast is necessary.The process involves collecting cash flow information from specified companies based on a selected analysis ID. However, if the analysis hasn't been updated with the latest data, a new Cash Flow Forecast won't reflect future projections accurately.Best regards,Lauri
Hi @andrei.borromeo,I'm glad my previous message provided some clarity. Yes, you've understood the setup correctly and @Adam Bereda concurred with it. In this scenario, the subsidiary's actual cost indeed determines its revenue based on its Percentage of Completion (POC). As for the parent project, it does indeed have its own project.For the parent project, its cost is essentially the cumulative cost of all its subsidiaries, and the revenue will be adjusted accordingly to align with the POC of the subsidiary projects. In essence, both the subsidiary and parent projects undergo the process of collecting transactions and running capitalization and revenue regulation, ensuring consistency and accuracy across the entire project portfolio.Let me know if you need further clarification on any aspect of this setup.Best regards, Lauri
Dear Andrei,Thank you for sharing your situation. It seems like we're encountering a similar scenario, albeit with a slightly different accounting principle in place.In our setup, the parent company recognizes costs based on the revenue recognized by the subsidiary on a Percentage of Completion (POC) basis. This means that as the subsidiary progresses through the project and recognizes revenue based on completion, the parent company's costs and revenue is also recognized accordingly.Inter-company costs and revenue are then reconciled and eliminated during the consolidation process. This approach ensures alignment between the parent and subsidiary's financial reporting while accurately reflecting the progress of the project.Here’s an example of an income statement before and after eliminations.Considering your setup, it might be beneficial to explore implementing a similar approach where the parent's revenue recognition and cost recognition are tied to the subsidiary's percentage of com
Hello,We are running IFS Cloud Application SU 23.1.6 and the issue exists: it’s possible to clock time even when the Project is closed and the Project completed. Does this mean the bug has slipped to later versions?Like @ghaschke said, the issue is that clocking is possible even when the related Project is closed and the Financial Project Completed.At minimum, there should be an option to allow/disallow such an operation in basic settings, since the requirement is not generic but relevant to specific businesses, as @COVJAMIEB implied.Best regards,Lauri
Hello ghaschke,The above issue is still open. It has not been addressed by IFS Community members or by IFS support. 😞I hope it gets attention now that there are others with the same issue.Br. Lauri
Hi Lidia,We’ve used the Business Planning Module since the launch of IFS Cloud. Just give me a shout if you need any help along the way.Br. Lauri
Hello @RECOFR and @Buddhika Kurera!Thanks for bringing this old ticket back. We were running Apps 9 at the time of creating the ticket.At the moment, we are running IFS Cloud 23R1 SU4, and I can confirm that cancelled customer orders are no longer an issue: Planned Revenue is updated right away to blank when a connected customer order is cancelled.All the best,Lauri
Hi Martina,Given that I don’t have any more information about the case my best advice is to start off by going thought the IFS Documentation process model titled “Complete Project”. Among other things, it explains key concepts of the reposting rule.Then proceed to your system, preferably to the test environment, and follow the project completion and reposting rule steps per the documentation and see if you get to the desired outcome.Best regards,Lauri / Cimcorp
Hello Rasfe, 👋🏻Unfortunately the question is too broad to explain it fully here.I suppose multi-company project reporting rules in place and the employees who are involved in the work defined as multi-company employees. Also I suppose you have setup the posting controls related to multi-company time reporting.If so, then here’s something to get you started with next steps: go on to setup up projects for the time registration purposes - one for each employee company and finally one for the customer company, which is also used for invoicing the end-customer.Connect the employee company project activity with an activity in the customer company. Set pricing to the employee projects and being registering time to the projects.Best regards,Lauri / Cimcorp
Hi Martina, 🖐I suppose you have two financial projects and by consolidation, you don’t mean group consolidation. Instead, you simply want to combine balances from two projects into one project within the same legal company.If so, you could complete both one of the financial projects. When doing the completion make sure to define a repost rule and then repost the balances to a completely new project.Hope this is what you were after.Best regards,Lauri / Cimcorp
Hi Naika,One way to quickly remove all transactions from a specific Planning Unit:Go to respective Planning Unit Version Delete the existing version Create new version from scratch.Make sure Planning Unit Versions are enabled in the respective Business Plan. Hope this helps!- Lauri
Hi Sugandi,It’s not possible to create cash flow for a master company - master company has no cash transactions itself.One solution is to first create and update Cash Flow Analysis Snapshot in each company then pull the snapshot data under a single Cash Flow Analysis. Just make sure to leave the Company and currency information empty, when creating the Cash Flow Analysis.Hope this helps!👊 Best regards,Lauri
Hi Zuha, In IFS Cloud the Cash Account balances are included by default in the sources (ref. below screenshot). Same goes for Apps 10. Balances. Note that you need to be using the Cash Book to pull the balances to your forecast.Best regards,Lauri
Hi Sandy, This might be due to several reasons. If the issue is still, please share more background information, like for example how you have set up the related Cash Flow Forecast entry (ref. below screenshot). Br. Lauri
Hi GayaND, Our company is using Cash Flow Analysis functionality in IFS Cloud, R22 for multiple legal entities in different currencies. It’s particularly useful for short term forecasts, when available system transactions, like AP, AR, Purchasing, etc. can be utilized to forecast the entire period. Let us know if you’re interested in more specific topics within CFA. Br. Lauri
Hi Anders, Writeback functionality is not available for all information sources as you say.For those sources that writeback is available, there is no need to separately enable it.For those sources that writeback is not available but you wish to make it available, best way is to create a new information source and configure writeback to work in the new information source. Best regards,Lauri
Hi Ron,Credit the 80 % invoice as you suggested. Create a new Customer Order Line to the existing customer order. Add a new staged billing profile to the line.I know this is not the answer you expected, but there is no way to remove the already invoiced staged billing line.Best regards,Lauri
Hi Thea, Budgeting module is technically easy to setup. There are a number of ways to utilize the budgeting module and the challenge is to setup it so that it serves the budgeting needs of your company/your client's company outside IFS. For a general help, the online help is best reference. Cheers,Lauri
Dear Yasuda-san, Yes, customer invoicing based prepayment and milestones is available and can be tied to start of the project or to a milestone. Best regards,Lauri
Hi! At least if Apps 9, the Project Invoice screen is company specific, so there is no need to filter the company. In other words, only invoices that are related to the company you are in, are listed. Invoices of other companies can be listed by changing the company. If this did not answer your question, please share more details, like the version and a screenshot of the specific screen. Best regards,Lauri
Hi Matthew, What matters is the payroll of the employee: is salary paid by the new company or by the old company?If payroll remains at the employee’s old company, new employee record is not needed. If the employee payroll moves with the employee, i.e. the employee salary is paid by the new company, you need to create another employee ID in the new company. The reason that payroll is company specific and must follow the employee.Hope this answers your question and helps you forward. Cheers,Lauri
Expense the items on the front end as non-inventory items and don’t track them individually as inventory. Then assign a packing and handling charge directly on the customer order to accumulate that expense to move it along as a sales related charge. It won’t be one-for-one, but for the 80% of the transactions you can get there without tons of work. If there are very large specific packing crates or skids that you need to track closer to actual cost, you would have to manage them as specific charges. So it depends on what your mix of packing materials looks like. Thanks ShawnBerk. This sounds like the solution we are after. I presume Steve also hinted to same direction so thanks to you too. One question however: is it possible to assign the packing and handling charge to a customer order only for cost allocation purposes? Our objective is not to show packing & handling charges in the customer invoice by default. Cheers, Lauri
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