Modify
Code String InformationThis step is mandatory.
First, you need to define a Chart of Accounts structure (COA) in the Define Code String window. You can define up to 10 code parts (or segments). The first code part A is always reserved for account, and is the only required segment in the COA structure. In addition, you can define other segments (code parts B through J), e.g., as a cost center, division, or product family.
Second, you will define account types and account groups in the Account Types or Account Groups window. These are used for reporting purposes within company. Usually, the default accounts groups are sufficient, but you can add and modify them if desired. The account groups will be tied to each account.
Third, you will create accounts for the Chart of Accounts in the Accounts window to view what the wizard created. Load your COA as required and right-click to the account to review the Code Part Demands tab. Select Optional, Mandatory, and Blocked for each segment of the account. Modify the Budget Code Part Demands tab as needed. Remember to select the Ledger Account check box for Payable, Receivable and Tax accounts on the Basic Data tab.
Finally, you need to create code part value in the Code Part Values window.
The information entered in this step is used throughout IFS Applications.
Note: Any code parts that are not being used should have the field set to Blocked on the Code Part Demands tab for each account. It is recommended that you set the Revenue/Expense accounts to Can for available code parts, and the Liability/Asset account to Blocked. This setting prompts you to open any blocked accounts as needed.
Note: If you are using IFS/xxx (i.e., project, fixed asset, consolidation), the code part X should be used for xxx.
Note: Account types are not stored in the database until you save, even though they appear to be available. You must save your changes at this time. Ignore the error message, if displayed, about the description.