Chart of Accounts—Extended Exercises

Main Exercises

Depreciation Accounts

Purpose: The purpose of this exercise is to show you how to verify that requirements are correctly set on the depreciation accounts. Later, the depreciation will be posted to the general ledger based on asset numbers.

Windows:
Account

  1. Open the Account window.
  2. Query for accounts that start with 78%.
  3. Verify that the requirements for the Asset code part segment are switched to mandatory. This enables you to follow up on the depreciation of your assets in the general ledger.
Account Description Code Part Parameter Value
7821 Depreciation of Building Asset Mandatory
7824 Depreciation of Land Improvements Asset Mandatory
7830 Depreciation of Machinery and Equipment Asset Mandatory
7832 Depreciation of Equipment and Other Tools Asset Mandatory
7833 Depreciation of Installations Asset Mandatory
7836 Depreciation of Lease Contracts Asset Mandatory
  1. Save your changes.

Currency Accounting Accounts

Purpose: The purpose of this exercise is to show you how to set up the currency accounting functionality for a purchase account. Purchases are made using different currencies, on which you need to do follow up.

Windows:
Account

  1. Open the Account window.
  2. Query for the 4021 account.
  3. In the Basic Data tab, select the Currency Balance check box.
  4. Click the Code Part Demands rab. 
  5. Verify that your currency segment is blocked. If not, change your requirement, and save your changes.

Currency Codes

Purpose: The purpose of this exercise is to show you how to add the necessary currency codes in your segments so that these will be posted automatically to the general ledger.

Windows:
Code Part Values

  1. Open the Code Part Values window, and click the Currency tab.
  2. Create a new record.
  3. Enter the lines shown in the table below.
Currency Description
DEM German Marks
EUR Euro
FRF French Franc
GBP Pound Sterling
NOK Norwegian Crowns
  1. Save these lines.
  2. The currency accounting setup is now completed for account 4021. If currency follow-up is needed on additional accounts, repeat this exercise.

Project Accounting

Add New Project Groups

Purpose: The purpose of this exercise is to show you how to create two project groups for the projects that will be entered in the next exercise.

Windows:
Project Groups

  1. Open the Project Groups window, and create a new record.
  2. Enter the following information shown in the table below.
Project Group Description Project Type
IT-INV Investments in Information Technology No capitalization
MARKET DEV Development in New Markets Capitalize Rev/Exp
  1. Save each transaction.

Add New Projects

Purpose: The purpose of this exercise is to show you how to add the three projects that the company will work on in the future. 

Windows:
Code Part Values

  1. Open the Code Part Values window, and click the Project Segment tab.
  2. Enter the projects shown in the table below.
Project Description Project Group
MEXICO Development in New Market: Mexico MARKET DEV
CANADA Development in New Market: Canada MARKET DEV
NET-451 New Internal Network at Main Office IT-INV

Note: You need to enter the project type that matches the project group.

  1. Enter the valid-from and valid-until dates. Make sure that your valid-from dates are set at the earliest date of the project.
  2. Save your changes. 

Code String Completion

Purpose: The purpose of this exercise is to show you how to connect default cost centers to the projects previously entered. Each cost center owns the different projects.

Windows:
Run Code String Completion

  1. Open the Run Code String Completion window.
  2. Query for the code part value MEXICO, CANADA, and NET–451.
  3. Create a new record, and enter the information shown below for each project. Save your changes after you enter each set of information. Once you have entered this information, the appropriate cost center will be assigned automatically each time you make an entry on your projects.
Code Part Value Cost Center
MEXICO 200
CANADA 200
NET-451 210