Creating part account definition

This page allows you to create the part account definition. Tell me more

Select the “Create Part Account Definition” link under the “Account Rule Definition” business component.

The “Create Part Account Definition” page appears.

Enter the following fields in the group box:

Part Account Group

Use the drop-down list box to select the code identifying the part account group. The system lists all the inventory account groups defined in the “Part Administration” business component, along with blank. The system leaves the field blank by default on launch of the page.

Note: Part Account Group is a logical group of part codes determined based on the level at which account codes are to be kept.

The system displays the following:

Description

The description pertaining to the part account group.

Enter the following fields:

Effective From

The date from which the part account definition details are effective (Date Format). Mandatory. The effective from date must be the start date of the financial year or financial period. The date must be greater than or equal to the start date of the account codes and less than or equal to the end date of the account codes.

Note: The following things must be taken care while entering the effective from date.

If for the part account group “IAG1” and an account code “IAG123” as part account has already been defined and deleted with date range of 1^st April 2001 to 31^st March 2002, then the effective from date for the same combination must start from 1^st April 2002.

If the account “IAG123” has already been mapped to a combination from 1^st Apr 2001, has to be mapped to a different account “IAG456” with the same effective date, then the mapping with the account “IAG123” can be deleted and a new mapping can be done to the account “IAG456”.

Part #	The code identifying the part (Alphanumeric, 32). Mandatory. The value entered here must have been defined in the “Part Administration” business component.
	Help facility available.

Note: Part code should not have been mapped to the part account group earlier.

Finance Book

Use the drop-down list box to select the code identifying the finance book to which the financial entries are posted. All the postings finance books that has been defined for the company, to which the login organization unit belongs will be available for selection, in the ascending order. The system displays the first finance book in the list by default on launch of the page.

Enter the following fields in the “Accounting Information” group box:

Stock Account #	The code identifying the account to which the transactions pertaining to stocks are posted. (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.
WIP Account #	The code identifying the account to which transactions pertaining to work in progress are posted (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.
Stock with Repair Agency Account #	The code identifying the account to which the transactions pertaining to the stock that has been issued to a repair agency, will be posted (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.

Note: The stock account, the WIP account and the Stock with Repair Agency account must have been mapped to the finance book in the “Accounting Setup” business component and must belong to the account group “Asset”.

Material Lost In Transit Account #	The code identifying the account to which the transactions pertaining to the materials lost during transporting or shipping, will be posted (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.
Purchase Price Variance Account #	The code identifying the account to which the transactions pertaining to the variance of purchase price, will be posted (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.

Note: The purchase price variance account must have been mapped to the finance book in the “Accounting Setup” business component and must belong to the account group “Expense”.

Stock Adjustment Account #	The code identifying the account to which the transaction pertaining to stock adjustments will be posted (Alphanumeric, 32). The account code must have been defined in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component.
	Help facility available.

Note: The stock adjustment account must have been mapped to the finance book in the “Accounting Setup” business component.

The system displays the following in the “Account Details” multiline:

Event	The part events, which affect the part account definition.
Account Type	The type of the account that has been defined such as stock, WIP, stock with repair agency, material lost in transit, purchase price variance and stock adjustments.
Account Description	The description pertaining to the account code.
Dr / Cr	Indicates whether each of the account defined will be a debit or a credit account for respective events.

Click the “Create” pushbutton to create the part account definition.

The system saves the account code for each account type with the effective from date. The system also saves the login ID of the user and the system date along with the creation details.

To proceed, carry out the following

Select the “Create TCD Account Definition” link at the bottom of the page to create TCD account definition.

Select the “Set Purchase TCD Parameters” link at the bottom of the page to set the purchase TCD parameters.

Select the “View Part Account Definition” link at the bottom of the page to view the part account definition.

Creating part account definition – An overview

For the combination of the part account group, or the part code and the finance book you can associate account code. This page allows you to enter the effective date from which the part account definition details are valid. You can associate the account codes to the stock account, Work in Progress account (WIP), the stock with repair agency account, material lost in transit account, purchase price variance account and the stock adjustment account. The system displays the predefined accounting details like the events, type of the account, account description and its identifier. Example

The system saves the account code for each account type with the effective from date. The system also stores the login ID of the user and the system date along with the creation details.

Example

Event	Account Type	Debit	Credit
Stock Transfer Issue	Stock		Y
Maintenance Return	Consumption		Y
Goods Receipt (2-Way)	Stock Suspense	Y

Prerequisite

“Part #” must have been defined in the “Part Administration” business component.

“Part Account Group” must have been defined in the “Part Administration” business component.

“Account #” must have been defined in the “Accounting Setup” business component.

“Finance Book” must have been defined in the “Accounting Setup” business component.