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IMOS Documentation
IMOS Documentation
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This article includes the following information about Business Rules:

Table of Contents

Business Rules Guidelines

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After picking the ledger account for the line item, IMOS will populate the corresponding General Ledger (Chart of Accounts) account Code.

Setting Up Business Rules

In the Financials module center , under Setup, click Business Rules.

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FieldAdditional notes beyond field help
Source
A transaction has one only one 4-letter Source.

Examples:

  • BINV corresponds to all accounting items/activities associated with bunker invoices.
  • FINV corresponds to all freight invoice items/activities.
Code

A transaction has one Bill Code per line item.

  • For a given Source and Bill Code, you can add two more rows that include a *.CR and *.DB suffix for the Bill Code. When posting an invoice that uses the Source and Bill Code, two additional detail lines appear on the invoice that net zero on the Transaction Data Entry form. *.CR and *.DB rows can be used to credit and debit accounts of your choosing.

Example: Bill code CFACM under Source code DEMR refers to the demurrage address commission line item.

Account

Select the appropriate General Ledger account number from the selection list and click OK. The Account Description and Category from the Chart of Accounts appear.

  • If you do not enter an account, a message asks if you want to run the Chart of Accounts. To view the Chart of Accounts, click Yes.

Note: When importing invoices referencing the Company, Source, and Code, the Business Rule must be assigned to an Account and a Category, otherwise the imported file will fail in the Interface Message List with the following error: Line X Ledger Code is blank.

Debit Acc

This field is only used for Monthly Accruals and is editable only for source code MACR.

  • An Expense that was posted and needs to be removed from the P&L will be posted in the balance sheet under the account specified in this column (deferred expenses).
  • A Revenue that needs to be recognized in the P&L will be posted in the balance sheet under the account specified in this column (accrued revenues).
Advanced Options
Credit Acc

In its basic form, a Business Rule is designed to pick the non-AP/AR account of the transaction. For direct Revenue or Expense items this would be the Revenue or Expense account while for inventory or prepayment items, this may be a balance sheet account. If you wish, you can use the Credit Acc column of the Business Rules form to also pick the corresponding AP/AR account per line item within a transaction.

Select the appropriate General Ledger credit account (to offset another account) number from the selection list and click OK.

  • If the Credit Account is defined, IMOS defaults to that account number in the Transaction Data Entry, followed by the account number defined in the counterparty's Address Book entry, followed by the number defined in the Account Period.
  • If the Credit Account is left blank, this Business Rule, when used in a posting, will use the Credit Account defined in the Account Period. Line items posted to an AP invoice will use the account in the AP field; the same is true for AR.
  • An Expense that needs to be recognized in the P&L will be posted in the Balance Sheet under the account specified in this column (accrued expenses).
  • A Revenue that was posted and needs to be removed from the P&L will be posted in the Balance Sheet under the account specified in this column (deferred revenues).
Vendor

Select the Vendor name from the selection list and click OK. The Address Type of the Vendor appears.

Country

Business Rules can be configured to apply to transaction line items that apply to specific countries.

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The following screenshot shows two Freight Business Rules (FINV:CFRTR). One is for an internal counterparty, while the other is for all other counterparties:

Company-Specific Accounting

Problem: Some companies may account for transactions differently, which means they require a unique setup of financial rules and accounts.

Solution: You can create a different set of Business Rules per Company,which will override the general Business Rules' settings if a specific company runs a voyage.

Deleting Company-Specific Business Rules

Company-specific Business Rules can be deleted by doing either of the following:

  • Right-click each Business Rule line and then click Delete.

  • Override the Business Rules with a company that has no Business Rules set up.

    1. Once Copy to Company is clicked, IMOS will detect that the current Company does not have any Business Rules.
    2. Click No to decline the creation of Business Rules based on the existing ones.
    3. Confirm this action to replace the Business Rule settings.

Country-Specific Accounting

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