Defining financial master data

In companies of type Financial or Both, you must enter the company's financial master data. The financial master data must be present in every financial company. In a multicompany structure, the financial companies can share much of the financial master data. You only need to enter the shared data once. You can enter the shared data in any of the companies that share the data.

The financial master data consists of:

  • The LN Financials master data that you define in the General Ledger (GLD) module, such as the chart of accounts, the integration between the financial company and the logistic company, and the tax registration data
  • The master data of the other LN Financials modules that you use
  • The LN Central Invoicing master data. This consists of the invoice headers and footers, and the billing request templates.

To enter the financial master data:

  1. Change to the company in which you want to enter the data. To change company, on the More menu, point to LN Options, and then click Change Company.

    Note: If the company shares the data with a company for which you have already entered the data, the data is already present. In this case, you can skip the corresponding steps.

  2. Define the general-ledger master data. This data includes the following:

    • The dimensions and financial periods used by the financial company or the financial companies of the multicompany structure
    • The chart of accounts
    • The structure of ledger accounts
    • The dimensions that are linked to the accounts
    • The transaction types of the transactions that will be processed in Financials
    • The financial periods to which the transactions will be posted
    • The ledger accounts and transaction types that will be used as interim accounts to record profit and loss, and so on

    For instructions on how to enter the financial master data, refer to the Infor ERP Reference Guide for General Ledger.

  3. Define the integration mapping schemes. An integration-mapping scheme is a scheme that defines to which ledger account each integration transaction is posted. Integration transactions are the financial transactions that result from the logistic transactions, such as the issue and receipt of goods.

    In each financial company of a multicompany structure, you must define the integration-mapping scheme for the integration between the financial company and the related logistic company or companies. You can define an integration-mapping scheme that applies to a specific logistic company or to all logistic companies to which the financial company is connected through the enterprise units.

    For business unit accounting and for a logistic analysis of the financial data, you must also map the financial transactions to the various dimensions.

    For instructions on how to set up the integration-mapping schemes and dimensions, refer to the "The Integration Mapping Setup Procedure" chapter in the Infor ERP Reference Guide for General Ledger.

  4. Set up the tax data.
  5. Set up the tax provider interface as described in the Infor ERP Tax User Guide if you use a tax provider to compute the U.S. and Canadian taxes.
  6. If you report tax in European Union (EU) countries, set up the EU tax data, as described in the online Help
  7. Set up the master data for the other LN Financials modules, as described in the corresponding module descriptions. The module parameters are part of the module's master data.
  8. Set up the Central Invoicing data.