Hansjürgen Müller

This idea is about introducing a local main account ALIAS.

Concept:

1. By company, a master table "local main accounts" is added.
2. In the chart of accounts, legal entity overrides (company-specific), a field "local main account" is added. In this field, a local main account from table 1. is selected.
3. The system configurations (posting profiles etc.) and account structures remain unchanged.
4. However, the local main accounts may be optionally used in journal entries, selectable in the voucher transactions inquiry, trial balance, localised reports etc.
5. The base data for regulatory reports (France, Spain, Mexico, etc.) is switched from "Main account" to "Local main account".

Advantages:

1. An advanced ledger setup - globally applied for all companies - is not longer blocked because of some cumbersome national regulations and obligations which must be applied in the first place and smash the global steering concept.
2. Global setups can be used in all international companies, setup can be cost controlling-driven, no longer restricted due to mandatory main account requirements.
3. All "local" reports can still be created out-of the box. No workarounds with additional financial dimensions or translations on reporting level necessary, or - if local chart of accounts is applied - translation backwards into specific group reporting layouts.

The local chart of accounts is just on-top. Keep flexibility on what the companies requires, and be independent from local regulations.

This would be a great step forward!

For stocked items, the system is posting the "complete" transaction:

1. Project cost (debit) - Inventory (credit)
2. WIP (debit) - Project cost item (credit)

Project posting for expenses and non-stocked items is just

• WIP (debit) - Vendor, or any other offset account (credit)

However, according to total-cost account method, this is incomplete.

The GL entries must be:

1. Project cost (debit) - Vendor, or any other offset account (credit)
2. WIP (debit) - Change in inventory (credit)

Therefore,

1. rename "Project cost - item" to "Change in WIP"
2. apply not only to stocked items but also to expenses and non-stocked items

In project expense journal and expense management reports,

1. if the project applies WIP (Balance sheet), add "cost" and "change in WIP" posting types,
2. if the posting does not apply WIP, just post project cost.