Company—Basic Data and Requirements Exercises

Main Exercise

Purpose: The purpose of this exercise is to learn how to create and enter information for a new company. You can create a new company by using the Create Company Wizard.

Windows:
Create Company Assistant

Create a Company

Create Company Wizard

1. Open the Create Company Assistant window.

2. Enter identity (max 20 char) and name for the company. If your company is only to be used as a template company then select the Create as Template Company check box.

Note: You cannot register vouchers for template companies.

3. Click Next to go to the next page.
4. This page contains text saying that a database consistency check will be performed. Click Next to go to the next page.

Note:  During installation, information is added to the database that specifies which company-related tables and columns should be included in the consistency check. When a company is created or updated then the database is always checked to find out if there are any COMPANY related columns that have a length that is less than the length of the specific/current Company Identity. If inconsistent data is found, then a dialog window is launched that presents the tables and columns. If this happens, it is always recommended to cancel the company creation/update and contact the System Administrator.

The main purpose with this check (information message) is to make sure that the Create/Update company process is considered as consistent regardless of combinations of component releases, installed bug corrections and service packs. 

If the company identity contains two characters or less, the consistency check will not be performed.

5. Choose to create the new company either from another company you are connected to, or from a template. Click one of the options under Create From. When creating the new company, enter the name of the company or template ID that you want to use as the source, or click List to select one from the List of Values. A standard installation contains system templates with the template IDs STD, STD-SV, etc. The STD template is a general system template. (The STD-SV template is the system template suitable for the Swedish market.)
6. Click Next to go to the next page.
7. Select the languages you want to include when creating company translations in the new company from translations in the source company or template. By default, all available source languages will be selected. If it is only necessary to create translations in a few languages, then just select those languages.
8. Click Next to go to the next page.
9. In this dialog you will find two options available i.e., Source Template/Company and User Defined. If you select the Source/Template option the accounting calendar will be created based on the information given for a company template or an existing company. Else if you select the User Defined option the accounting calendar will be created based on the values you have given for the First Accounting year and Start from Year-month fields.
10. The Accounting Currency is the reporting currency used when reporting legal entity activities for periods or fiscal years.
11. Enter the required fields, i.e., all fields except Parallel Currency and the Valid From date for parallel currency. If a parallel currency is specified, you will, on postings, i.e. voucher rows in IFS Financials, see amounts also in the parallel currency, calculated from amounts in base currency. Valid from is the earliest date on which the company is available for postings. This means that the valid from date should be set to the earliest period during which you plan to transact. This means that if you want your year-end-balances for 1998, you need to enter the 31st of December 1998 as your Valid From date.

    Accounting Currency	Valid From
    USD	1998-12-31

    
    Cancel/Rollback Posting Method is used when you make corrections on invoices, payments, or other postings. Reverse correction means that the system will reverse your postings when creating correction journal entries. Debit entries will be Credit entries and vice versa on the correction vouchers. Correction means that the system produces negative amounts in debits, and positive amounts in the credit column so that the balances per debit or credit are always 0. This is often referred to as the east-European solution of accounting which is derived from German accounting principles. The Parallel Currency is used for storing a reference amount out of the base accounting currency on voucher rows.
    
    By default, the Use Voucher Number Series Per Period check box is not selected. The check box defines the method of creating voucher number series. If the check box is selected, voucher series per voucher types are generated automatically considering the year and the period. If not, voucher series per voucher types are created in the default manner, i.e., considering only the year.

12. Click Next to move on to last page.
13. Check the summary of the company that will be created, click Previous if you want to do any changes.
14. Click Finish to start creating the company. The create company process can take a few minutes.
15. After the create company process is finished, check the company log if necessary. This is done in Companies, via the right-mouse button operation Company Log.
16. The next step is to go through the basic data created for the company and adjust it or add additional information. Please check the tabs in the Company window and the basic data windows in all components handling company data.

Change / View Company Data

Purpose: The purpose of these exercises is to add or alter information in an already created company.

Windows:
Company

Enter General Basic Data

Note: If you used the Create Company Assistant, the basic information required has already been created.

1. Select your company.
2. Click the General tab.
3. Add additional information for fields that are empty if desired.
4. Save (F12).

Enter Company Address Data

1. Click the Address tab.
2. Add a new record in the Address Identity field by pressing New (F5), and enter a Address Identity. To be able to change data in the Address field double-click in the address box.

Note: How the address is presented is defined in Address Presentation. You can specify which fields that should be displayed and in which order.

3. Optionally enter a number in the Company's Own Address ID field. This is usually used for EAN location numbers.
4. Save (F12).
5. If the company uses Sales Tax or both Sales Tax and VAT (Mixed),  you can proceed to the Tax Code sub- tab and add a new record (F5).

Note: For companies using Sales Tax and Mixed, tax will be calculated and suggested according to this information for all entered supplier invoice lines. When an invoice (in status Preliminary) is matched with purchase order lines, tax lines are retrieved from the order lines instead and any tax lines that might exist on the invoice are removed.

6. Select a tax code via List of Values (F8).
7. Save (F12).
8. If you are using more than IFS Financials proceed to the Distribution Data subtab.
9. Enter an address name and a reference to be used in purchase orders.
10. Enter ship via code and delivery terms to be used for internal inventory movements.
11. If goods sent to the address (only applicable for delivery addresses within the European Union) should be excluded from Intrastat select the Intrastat Exempt check box.

Enter Company Communication Method Data

1. Click the Comm. Method tab.
2. Use this tab window to connect different communication methods to all addresses you have connected to your company. All communication methods entered here can also be seen in the Address tab.

Enter Company Message Setup Data

1. Click the Message Setup tab.
2. Use this tab window to define inbound and outbound messages, normally EDI messages for suppliers and customers.

Enter Company Employees Data

1. Click the Employees tab.
2. Use this tab to register an individual employee's ID.

Enter Company Accounting Rules Data

Note: After running the Create Company Wizard, the basic required information has already been created.

1. Click the Accounting Rules tab.
2. If you plan to have a parallel currency, e.g., for a EURO based company, enter a value on the General Data subtab, if it has not been already set.  
3. You can change the Cancel/Rollback posting method if the one selected in the create company process is not preferred.
4. Save your changes (F12).
5. On the Currency Rate Type Information subtab you can select the default currency rate types for Buy and Sell as well for Tax Buy and Sell. 

Note: The accounting and parallel currencies, and the corresponding valid from fields cannot be changed once saved.

Enter Distribution/Inventory Data

1. Click the Distribution tab.
2. Click the Inventory tab.
3. Default values are set for all the lifecycle parameters.
4. Update the Introduction Duration Days field if you want to change the length of period during which parts are considered as being under introduction.
5. Update the Decline Inactivity Days field if you want to change the number of days that should pass without issues before a part is considered as declining.
6. Update Expired Inactivity Days field if you want to change the number of days that should pass without issues before a part is considered as expired.

Enter Company Invoice Data

1. Click the Invoice tab.
2. Most fields are created with default values when the company was created. Make sure that they are set correctly depending on what type of indirect taxes you want to use in your company.

3. Things to consider regarding the field Same No on preliminary and final Supplier Invoice voucher. Checking this box means that the voucher created at final posting of a supplier invoice (function group J) will have the same no. as the voucher created at arrival entry (function group I). This requires that all voucher types connected to function group J are set up for manual number allotment. See further exercise on Voucher Types. 

   Note: You can only change number allotment method for a voucher type from Automatic to Manual, not the other way around.

4. If you want the customer invoice tax lines to be checked against the tax amount limits for each tax code select the Tax Amount Limit, Customer Invoice Lines check box in the Tax Information sub tab. If the total tax amount in the invoice lines is within the tax amount limit for the tax code, then tax will not be posted for these invoice lines.

5. For each country in which your company has a tax registration, enter your company's Tax ID Number. Enter a Branch if you want to use specific invoice number series for a country.

6. You have the possibility to enter a page footing to your invoices: Select the Page Footing field and enter the page footing you wish to be printed on the customer invoices.

   Note: You need to enter the information with the following format and use Enter between every row. The ^ is used to make a separation of the data printed on customer invoices.

   Note also that your company's Tax ID number will be printed on the first page footing line, directly after what is manually entered as in the table below. This might require a number of ^ signs after for example the address, in order to have the Tax ID number printed in the right place in relation to the Page Footer heading.

   Row	Text
   1	Street^Address
   2	Postal^Code^City
   3	Country

7. Save (F12).

Enter Company Payment Data

1. Click the Payment tab.
2. Select the Vat Reduction at Cash Discount check box if tax is to be reduced at discount.
3. Select the Suggest Discount for Partial Payment check box if discount should be suggested for partial payments.
4. Enter Default Customer/Supplier Invoice Series. The entered series will default when manual payments are entered.
5. Specify Percent Tolerance. The tolerance percentage is used for automatic write-off at customer or supplier payments.
6. Specify Amount Tolerance. This is the maximum amount tolerance accepted for automatic write-off for each customer or supplier payment.
7. The fields Tolerance Currency and Interest Invoice Type are set when the company were created.
8. Enter a Prefix for Reposted Invoice No in the Misc Parameters if you want a prefix to be suggested when reposting ledger items to another identity. 
9. Save (F12) the information.

Enter Periodical Cost Allocation Information

1. Click the Periodical Cost Allocation tab.
2. Click New and enter the following data:

3. Save your record. The Rollback mode determines how the rollback of vouchers will take place. There are two modes of rollback: Correction and Rollback. In Correction mode, the system creates correction vouchers for executed steps and performs the updating routine. In Rollback mode the system returns to the status the general ledger had before execution, i.e., the system removes information on vouchers from the general ledger. Execution mode determines how many steps can be executed per one operation. There are two modes: Single and Batch. In Single mode, it is only possible to execute the next step in the sequence. The steps are executed one by one. In Batch mode, it is possible to select a step up to which all the steps are to be executed. The execution stops on a selected step or earlier if an error occurs during the execution. Use List of Values and enter the identity for the user group that can use the Periodical Cost Allocation module. The user group has to be entered via Accounting Rules/User Data.

Enter GS1 Basic Data

1. Open the Company window and click the Distribution tab.
2. Select the GTIN company prefix from the List of Values. The company prefix entered here will be used when you create a GTIN automatically for this company.
3. Select the SSCC company prefix from List of Values. The company prefix entered here will be used when you create a SSCC automatically for this company.
4. Save the information.

Enter Fixed Assets Information

1. Click the Fixed Assets tab.
2. Most fields are created with default values when the company was generated. Make sure that they are set correctly depending on how you want to use Fixed Assets in your company:
3. If you need different code strings for the same combination of acquisition account and object ID, select the Allow Multiple Acquisition Code Strings check box.   
4. If it is required in your country to reduce the acquisition values by cash discount, select the Reduction by Cash Discount check box, and enter or select the transaction reason for cash discount reductions in the Transaction Reason field.
5. If you want to make sure that a custodian is entered for all objects, select the Custodian Mandatory check box in the FA Inventory Parameters.
6. If you want to make sure that a physical location is entered for all objects, select the Physical Location Mandatory check box in the FA Inventory Parameters.
7. Select the Write Depreciation Log check box, If you want that Create Log is suggested when creating a depreciation proposal.
8. Save your changes (F12).