The Financial Analysis main process is divided into five sub processes:
The Project Accounting process allows the use of different types of projects. Project types permit the user to select whether project costs and project revenues will influence results during the lifetime of the project and also how they will influence them. Projects defined in IFS Engineering are integrated with the project accounting in IFS Financials. A project in IFS Engineering belongs to a project group in IFS Financials. Also the queries in IFS/General Ledger can show information from both products.
The Internal Elimination process is used for marking transactions that can be excluded in queries, fixed reports, and reports that are produced in IFS/Report Generator. Before the transactions can be marked, an elimination structure must be defined in IFS/General Ledger. The update routine then marks the transactions with an elimination code.
When using the Currency Balance Accounting process one or several currencies are stored at balance level in the general ledger. This makes it possible to retrieve a balance in the accounting currency as well as in some other currency. The currency balance information can be shown in queries and in reports created in IFS/Report Generator.
The Follow-up, General Ledger process includes queries and reports that can be used for information on general ledger transactions and balances. An authority function makes it possible to block and/or permit users to query or to print reports on certain transactions.
The Report Generator process is used for creating reports based on the balance tables in the database. It has access to the balance table for the general ledger, the balance table for project accounting, and the balance tables for budget versions. The general ledger balances and the project accounting balances can be handled in accounting currency, original currency, and third currency, and also separated into debits and credits.