Set Function Defaults – A summary of the activity

You can specify whether sale accounts can be defined based on parts and consumption accounts can be defined based on parameters. If the “Sale Accounting based on Part” parameter has been set to “Yes” then the system allows definition of sale account, sale return account and COGS account based on part codes and part account groups. Also, if the parameter “Consumption Accounting based on Parameters” has been set to “Yes”, then the system allows the aircraft and component accounts to be defined based on parameters set in the “Set Consumption Parameters” page.

A third parameter “Account Material, Resources, and Others separately”, if set to “Yes” ensures that the expenditure incurred on the revenue earned is segregated and posted to three account heads, namely Material, Resources and Others.

 The system sets the functional default values the first time and saves the modifications made to it thereafter.