General Ledger & Parallel Accounting

Defines the company's accounting code string in IFS Cloud Financials, where code part A is always the Account and code parts B through J provide optional analysis dimensions such as cost center, project and object. A default chart of accounts, account groups and account types are generated at company creation and then tailored to the customer's reporting needs.

Covers manual journal entry in IFS Cloud where vouchers are registered in Accounting Rules, collected in the hold table, approved, and then moved to the General Ledger by the Update General Ledger routine or by Update Voucher Instantly. Includes correcting error-marked vouchers and cancelling posted manual vouchers.

Covers Periodical Cost Allocation (PCA) and period-allocation postings in IFS Cloud. PCA runs procedures of ordered steps (Prepare Factor, Prepare Distribution, Manual Voucher, Generate Voucher, Update GL) once per period to allocate indirect costs using distribution keys and factors, with correction or rollback modes. Period allocation in Voucher Entry spreads cost or revenue across past and future periods using posting type GP2.

Covers reporting and analysis over the General Ledger in IFS Cloud, from GL Balance Analysis and voucher drill-down (GL Vouchers, GL Voucher Rows, GL Voucher Details Analysis) to the General Ledger Analysis Model, which maps balances into balance sets (ACT, BUD, CFC, NFC) with pre-calculated YTD, PY and R12 measures for financial statements and management reporting.