Account Rule Definition – An overview

Introduction

Account rule definition is an account defaulting rule engine. Various transactions result in financial postings using account codes. Account Rule Definition business component defaults account codes, based on certain parameters for transactions except for journal vouchers. These parameters are specific to each business process and user can set the parameters to be considered for Account Rule Definition.

Account Rule Definition aims at simplifying data entry by automating certain fields and eliminating the possibility of errors through usage of improper account codes.

Feature Highlights

• Account rules are set for various transaction cycles based on parameters, for events or for usages. Account rule can be set for pre-defined or user-defined usages and used for financial postings. User defined usages are assigned to events (transaction types) and can be used for financial postings.

• Account rule is defined, based on the parameters set. This provides the facility to track financial entries, based on these parameters, which helps in analysis and decision-making.

• • Parameters are attributes/characteristics to be considered for determining account rule.

  • Event refers to a specific transaction, which lead to account postings. Account rule can be set, to determine the account code to be affected, in case of a particular event.

  • Usage can be predefined or userdefined. The usages can be defined to suit the business requirement as to financial accounting. For example, Usage for Freight charges and the same can be invoked in ‘Account Based Note’ business component in supplier Invoicing cycle and account postings can be made. All the auto posting account types are classified as ‘Predefined’ usages.

• Account rule is always set for a finance book.

List of Activities