IFS Financials

The topics covered in this course provide the foundation for understanding and using IFS Financials to perform basic general ledger, accounts payable, accounts receivable, and financial reporting activities.


This course is intended for new users of IFS Financials, including accounts payable and accounts receivable staff, account managers, analysts, accountants, and financial managers.


It is assumed that participants have a working knowledge of IFS navigation and a basic understanding of accounting concepts.


5 days


At the end of this class, the participant will understand the functionality of the IFS General Ledger, Invoice, Payment, and Report Generator modules. Participants will be able to use these modules to perform basic financial accounting transactions and analyses.

Topics covered will enable the participant to:

  • Enter several kinds of manual journal vouchers.
  • Use the various methods and options for updating transactions to the general ledger.
  • Be familiar with the General Ledger reports and queries.
  • Use the Balance Analysis functionality.
  • Generate a budget.
  • Set up an automatic posting rule.
  • Enter a new supplier.
  • Set up new payment terms.
  • Set up sales tax and use tax codes.
  • Enter and post supplier invoices for a variety of scenarios, both with and without purchase order matching.
  • Process a supplier check run.
  • Use supplier queries and reports.
  • Become familiar with the reports and queries available for viewing and analyzing supplier invoice and payment data.
  • Enter data for a new customer.
  • Create, print and post customer invoices, both with and without customer orders.
  • Create a customer credit invoice. Offset customer debit and credit invoices.
  • Enter customer payments for a variety of scenarios, both with and without customer invoice matching.
  • Become familiar with some of the features in IFS Customer Credit Management, including write-off notices and reminders.
  • Become familiar with the reports and queries available for viewing and analyzing customer invoice and payment data.
  • Order financial reports within the IFS Report Generator module.
  • Exercise IFS Report Generator functionality to create, copy, and modify financial reports.
  • Create and use Report Generator templates.
  • Understand the process of transferring transactions from other modules, including error detection and correction.

Got Feedback?

Do you have suggestions for training topics, have feedback from a previous course, or want more information about IFS training opportunities? We'd love to hear from you.

Contact Cathy Riordan by phone (262-317-7400) or by email below.

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