The GL Account Set program is used to group cost types for a subject group. For example the subject group may be economics and the cost type may be economic related costs in a project. Cost types are the key to expensing projects. It then charges the relevant WIP account; as each cost type is linked to a WIP account.
When allocating account sets to a project, the cost types within the selected account set are automatically allocated to the budget management screen for the selected Project. A variance account must exist in “AZ” subledger if transfer type = ‘4’ for Amortization. The account description is retrieved from TMSBP/XFER-WRD. The major account is retrieved from the GL Account Set masterfile.
Landing charge cost types are validated for landing charges set up in TMSPU/CST-TYPE and for cost types set up in TMSBP/TS-TSK.
Add a new account set definition
- In the menu, expand Publishing Modules > Book Publishing > Account Maintenance and double click BP GL Account Set Maintenance. BPM030 Work with Account Set Definition main panel is displayed.
| Option | Description |
| Display | Access Work with Account Set Definition in Inquiry mode to inquire on a cost type |
| Work with | Access Work with Account Set Definition in Change mode to Work with cost types |
| Change | Access Work with Account Set Definition in Change mode to maintain a cost type. |
| Copy | Access Work with Account Set Definition in Copy mode to copy an existing cost type to a new cost type. |
| Delete | Access Work with Account Set Definition in Delete mode to delete existing cost type. |
| Functions | Description |
| Add | Access Work with Account Set Definition in add mode to add a new account set definition. |
- Click Add. BPM030 Work with Account Set Definition panel in Add mode is displayed.
| Field | Description |
| Account set | The GL Account Set is used to group the cost types for a subject group. For example the subject group may be economics and the cost type may be economic related costs in a project. Cost types are the key to expensing projects. The relevant WIP accounts are then charged as each cost type is linked to a WIP account. This is set up in TMSBP/CST-TYPE. |
| Description | This is the description of the account set. |
| GL company | Company codes are established in TMSGL/CONO. |
| The Cost type for Stock receipts per Cost group and Landing charges is entered here. Example Cost type = 999, Cost group = STK, Transfer type = 1- Inventory.
Note 1: the Cost type for PBO and Stock Receipts should never be the same. Note 2: If this Cost type is left blank then the result will be an error in the Shipping Accounting Report PUO010. Error message 08: No Account set found for P/O Purchase order xxxxxx and Commitment xxxxx. |
|
| Revenue cost type | This is the Recovery Revenue Cost type. |
| Stock clearing A/C | Enter the General Ledger Clearing Account to be used which should be the same as the Goods in Transit Clearing Account |
- Enter the account set information as required.
- Click OK to confirm. The new account set definition is added.
Add cost types to the GL account set definition
- In the menu, expand Publishing Modules > Book Publishing > Account Maintenance and double click BP GL Account Set Maintenance. BPM030 Work with Account Set Definition main panel is displayed.
- Select the account set and click Work with. BPM030 Work with Account Set Definition panel is displayed in change mode.
- Click Add.
| Field | Description |
| Cost type | The cost type is a unique 3 digit number. It can be allocated to one WIP account per cost type for a 1 to 1 ratio, or can have many costs types to the one WIP account. The cost type defaults from the account set created for the selected Project. |
| WIP type | The WIP type defaults once the cost type has been entered and may not be overridden. Each Cost Type is linked to a WIP type and set up in TMSBP/CST-TYPE. The Cost Type is linked to the WIP types so the system knows which account to charge costs to. |
| Transfer type | The transfer type determines how the book production project is to be expensed in the GL.
Note: The publication date must be entered on the project header for the monthly program to check and compare, and transfer. This field defaults from TMSDS/XFER-TYP to 1 = Inventory for cost types and may be overridden. The following transfer types will calculate the expenses for each project: 1 = Inventory. This project will be expensed directly to inventory when the project is closed. This expense will be a combination of automatic and manual journals. 2 = Cost of Sales when Project published. This transfer type will expense the costs of the project when the project reaches the publication date entered in the header of the project. 3 = Cost of Sales Monthly. This transfer type will expense the costs of the project on a monthly basis. Therefore, the costs will be transferred to the GL account monthly starting from the publication date on the project header. 4=Amortization. This determines if amortization is allowed for this cost and will work in addition to the correct formula setup in amortization definitions and GL accounts. Note: All transfer types include commitments if there are no actuals when the monthly post is run. When the accruals are received the system reverses the accrual and takes up the actual. An accrual account must be set up in the accounts set for this to accrue. |
| Inventory flag | The inventory flag is retrieved from the control file TMSBP/CST-TYPE. |
- Enter the relevant information as required.
- Click OK to confirm.
