Modify Account Types

Explanation

This activity is used to enter and modify account types that will be used in the company. This mandatory task is to be performed by a system administrator or an equivalent person.

For each account type, a logical account type is connected which will determine the behavior of the relevant accounts. This logical account type can be changed for an account type only if there are no accounts already connected to the account type.

Default code part demands are specified for each account type by connecting a requirement value for each code part of the code string and also for the quantity, process code and voucher text. The connected requirement value will control how the code part is used for the code string. These requirement values specified are the default values applicable when account information is entered in other components of IFS applications. For normal postings and for budget, the default code part demands are separately defined in the Account Types window.

The requirement values which can be selected are Can (code part is optional), Mandatory (code part is required) and Blocked (code part is blocked for entry). Blocked cannot be used for voucher text. The code part requirement values are predefined and cannot be changed. If it is specified that the code part is blocked in the Define Code Strings window, only Blocked is available as a requirement value in the Account Types window.

When already defined code part requirements are modified, you can decide whether the change should affect all existing accounts belonging to the account type or only new accounts.

The process code is linked to the account and can be used for automatic posting rules.

Prerequisites

This activity requires that the code string is defined for the company in the Define Code String window in IFS/Accounting Rules.

System Effects

New account types can be connected to the accounts. The code part requirements become default when account information is entered in various other components of IFS Applications and in the Budged folder in IFS/General Ledger.

Window

Account Types 

Related Window Descriptions

Account Types 

Procedure

To enter an account type:

1. Open the Account Types window and select New.
2. Enter a value in the Account Type field.
3. Enter a description for the account type in the Description field.
4. Enter a value in the Logical Account Type field by selecting an option from the drop down list.
5. The default code part requirement values will be automatically entered in their respective fields for each code part. If needed, modify these values to suit the purpose of the new account type.
6. Save the information.

To modify default code part demands for account type:

1. Open the Account Types window, populate and select an account type from the drop down list.
2. Go to the Default Code Part Demands tab.
3. Select a value from the drop down list available for all code parts and the Quantity, Process Code and Text fields and save.
4. A message will open which questions whether the changes should affect all existing accounts connected to the account type. Select either Yes or No as applicable and save the changes.

To modify default budget code part demands for account type:

1. Open the Account Types window and go to the tab Default Budget Code Part Demands.
2. Select a value from the drop down list available for all code parts and for the Quality field and save.
3. A message will open which questions whether the changes should effect all existing accounts connected to the account type. Select either Yes or No as applicable and save the changes.