RE: IFM Project Accounting

["ksundaram Sundaram" <ksundaram@xxxxxxxxxx>]

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Bob,

Thanks for the info. it will be very helpful in what we are trying to do.

Thanks
Kannan

        -----Original Message-----
        From: Bob Tenney [mailto:bobtenney@earthlink.net]
        Sent: Wed 11/20/2002 2:43 PM
        To: mapics-l@midrange.com
        Cc:
        Subject: IFM Project Accounting



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        Kannan, The answer to your question depends on the way you define 
"project accounting". Here are some things you should consider:

          a.. If your project reporting is closely linked to manufacturing 
orders (MO's) then you should report from your MO databases using customized 
reports or the Contract Accounting application to do the job. Here are some 
"red flags" that tell you  that IFM is the wrong tool: (1) One-to-one 
relationship between MO's and projects; (2) Several MO's summarized into one 
project; (3) Need to report quantities; and (4) MO status (e.g. last operation, 
completion date, etc.).
          b.. IFM is a good project reporting tool when your projects are not 
closely linked to MO's  (e.g. product development projects, marketing 
campaigns, plant re-tooling projects).  Using MO's for these kinds of 
activities is cumbersome and may interfer with the day-to-day manufacturing 
activities that they are designed to track.
        If you use IFM you need to make the project part of the account code. 
Adding the project to the Nature is usually  the better choice because it 
answers the "What" question and lets you have projects that span multiple 
companies. But, if you are sure that only one or two departments in the same 
company will be involved, adding the project to the Unit is OK. In either case, 
you should add the project in a consistent way. For example:

          If you add the project to the nature and Nature 1000 is salaries, 
then the Natures for salaries related to projects ABC and DEF should be 
1000-ABC and 1000-DEF respectively.

        One more thing. If you use IFM for project accounting you really need 
to have FRx installed to do the reporting. This is important because FRx lets 
you use Excel worksheets to include project-related statistical data (e.g. 
hours) in your reports.

        Bob Tenney
        Bob Tenney Solutions, LLC
        MAPICS - FRx - Crystal Reports
        828-526-8976
        Visit www.tenneypubs.com for books about
        IFM, FRx, COM, Cost Accounting,
        General Ledger Interfaces, and
        Info WorkPlace
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