Good afternoon, My company is shortly upgrading to IFS Cloud. We are wanting to evaluate what options we have, for implementing a Supplier Invoice Portal, that natively interacts with IFS. We are a multinational company, with operations across the globe. I have been made aware of Pagero has a solution that supports native interaction with IFS, however I’m wanting to evaluate other options. Is anyone aware of any other providers, with software that natively interacts with IFS Cloud Thanks Chris
Good afternoon, Does IFS support open-item managed GL ledgers? I have lots of users booking entries against balance sheet accounts, and we require to go through a lengthy month-end process to reconcile netting debits/credits (whether these be auto reversing journals or other types), in order to understand what makes up balances on our balance sheet. This is a lengthy and manual exercise, often involving thousands of lines in excel.It’s common for accounting software to enable open-item management of GL ledgers, allowing users to either: ‘close’ debits/credits against each other that net to zero ‘close’ debits/credits against each other that dont net to zero but are within a tolerable threshold - writing off misc FX/variances to P&L accounts. automatically ‘close’ debits/credits against each other, if they pertain to auto reversing entries.Using the above functionality, allows balance sheet accounts to be maintained real-time, enabling management to get visibility of balance sheet
Good afternoon, I’m seeking an IFS solution for a recurring issue that my company sees - out of balance intercompany accounts after consolidation. We have many legal entites in the group, many of these trade with one another (one may purchase goods on behalf of another, or may pay salaries for employees that are seconded to projects completed by other entities etc). When accounting entries are posted, to move costs from one entity to another, this is done via two journal entries (or one, if combined into one upload)E.g. Company A incurred expenses that should be borne by Company BCompany A:Cr Expense ($100)Dr Intercompany AR/AP $100 - with counterparty BCompany B:Dr Expense $100Cr Intercompany AR/AP ($100) - with counterparty A Often, we see manual entry errors like the following:Company A:Cr Expense ($100)Dr Intercompany AR/AP $100 - with counterparty BCompany B:Dr Expense $100Cr Intercompany AR/AP ($100) - with counterparty CThe counterparty “C” was entered in error, and should have
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