Enterprise application adoption guide for IGFC

This appendix provides the steps in setting up IGFC to transform source system transactions into journal entries using the accounting framework integration. Source systems may refer to enterprise applications such as asset management, hotel management, banking, and insurance administration applications. These transactions are mainly transformed through user-defined rules in GFC.

The basic considerations in planning for IGFC implementation are:
  • The business events that need to be accounted
  • The source system for these events and which system will receive and manage the journal entries
  • The specific accounting requirements of these business events

In analyzing the business events of the source system, you may need to examine the flow of documents, their life cycle, and the events in the flow that have financial impact. You can then identify the transactions that need to be journalized as well as the accounting treatment for these transactions.

A transaction is associated to a single business document (BOD). The next step is to determine the business documents that have financial impact, as well as the master data that are referenced by these transactions. Accounting master data business documents such as AccountingChart or FinancialCalendar must also be identified.

Ensure that the source transactions include all the information needed to create journal entries. These include account numbers and amounts, or the general ledger dimensions that must appear.

These sections give an example of a use case and the corresponding setups in IGFC to transform source system transactions into journal entries.