Project Accounting Accounting Control Guide

Microsoft Dynamics™ GP
Project Accounting Accounting Control Guide
Copyright
Copyright © 2007 Microsoft Corporation. All rights reserved.
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rights under copyright, no part of this document may be reproduced, stored in or introduced into
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Limitation of liability
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License agreement
Use of this product is covered by a license agreement provided with the software product. If you
have any questions, please call the Microsoft Dynamics GP Customer Assistance Department at
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Publication date
April 2007
Contents
Introduction ................................................................................................................................................. 2
What’s in this manual...................................................................................................................................2
Symbols and conventions ............................................................................................................................3
Resources available from the Help menu..................................................................................................3
Send us your documentation comments ...................................................................................................5
Part 1: Posting setup and control .................................................................................. 8
Chapter 1: Posting setup ............................................................................................................... 9
The Project Accounting chart of accounts .................................................................................................9
The Work In Progress posting account ......................................................................................................9
Specify default posting account numbers for records and classes for cost transactions..................10
Specify default posting account numbers for cost categories in project budgets.............................. 11
Specify posting account numbers for a cost category in a project budget .........................................12
Specify default posting account numbers for records and classes for fees ........................................13
Specify default posting account numbers for fees assigned to projects .............................................14
Specify posting account numbers for a fee assigned to a project ........................................................15
Specify account segment numbers to use when posting amounts for a contract..............................16
Specify account segment numbers to use when posting amounts for a project................................17
Chapter 2: Posting control ........................................................................................................ 19
Manually create a batch for transactions.................................................................................................19
Review and modify posting account distributions for transactions ...................................................20
Post batches..................................................................................................................................................21
Part 2: Revenue recognition .............................................................................................. 24
Chapter 3: Revenue recognition setup .......................................................................... 25
Grant revenue recognition transaction entry permissions ...................................................................25
Create a revenue recognition cycle record ..............................................................................................25
Chapter 4: Revenue recognition transactions ........................................................ 27
Accounting methods and recognizing revenue......................................................................................27
Percentage complete and revenue recognition calculations.................................................................28
Use a revenue recognition cycle to generate revenue recognition transactions ................................28
Enter or modify a revenue recognition transaction ...............................................................................29
Specify revenue to recognize for cost categories in a project budget..................................................31
Specify revenue to recognize for fees.......................................................................................................32
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Part 3: Reports and utilities ............................................................................................... 36
Chapter 5: Reports ........................................................................................................................... 37
Create and print report options ................................................................................................................37
Create report groups...................................................................................................................................39
Report destinations and formats ..............................................................................................................39
Reports list ...................................................................................................................................................40
Project Accounting reports ........................................................................................................................40
Chapter 6: Adjusting transactions .................................................................................... 45
Exceed total cost, quantity, or revenue on adjusting transactions .......................................................45
Reverse cost transaction line items...........................................................................................................45
Reverse and correct cost transaction line items......................................................................................46
Chapter 7: Transaction and record deletion ............................................................. 49
Delete Closed contracts ..............................................................................................................................49
Delete posted cost transactions.................................................................................................................49
Delete posted billing invoices and returns..............................................................................................50
Chapter 8: Accounting utilities ............................................................................................ 51
Clear paid billing invoices from lookup windows ................................................................................51
Recalculate project budget totals by fiscal period..................................................................................51
Delete project budget totals that aren’t within fiscal years...................................................................52
Glossary ......................................................................................................................................................... 53
Index ................................................................................................................................................................... 61
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A C C O U N T I N G
AC C O U N T I N G
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G U I D E
INTRODUCTION
Introduction
The Project Accounting Accounting Control Guide includes information for
accounting managers about how to use Microsoft Dynamics™ GP Project
Accounting to set up and control how credits and debits are posted to the Project
Accounting chart of accounts and how to recognize revenue for projects. It also
includes information about how to create, group, and print reports.
You can specify posting account numbers for cost categories in project budgets and
for fees assigned to projects. You can create the batches to be used for transactions
and, before posting, modify posting account distributions for transactions. You can
enter adjusting transactions and delete posted cost and billing transactions.
You also can use revenue recognition cycles to recognize revenue for multiple
customers, contracts, and projects at once.
See the following Project Accounting documents (Help > Printable Manuals) for
more information.
Project Accounting Cost Management Guide Includes information about
how to estimate and track project costs, and specify how billing amounts, revenue,
and profit should be calculated, based on project costs.
Project Accounting Billing Guide Includes information about how to create
billing invoices for customers.
Project Accounting Administrator’s Guide Includes information about
how to set up user security and maintain your company databases for Project
Accounting.
This introduction is divided into the following sections:
•
•
•
•
What’s in this manual
Symbols and conventions
Resources available from the Help menu
Send us your documentation comments
What’s in this manual
This manual is designed to give you an understanding of how to use the accounting
control features of Project Accounting, and how it integrates with the Microsoft
Dynamics GP system.
To make best use of Project Accounting, you should be familiar with systemwide
features described in the System User’s Guide, the System Setup Guide, and the
System Administrator’s Guide. Choose Help > Printable Manuals for more
information.
You might also need to be familiar with features described in General Ledger, Bank
Reconciliation, Multicurrency Management, Purchase Order Processing, Purchase
Order Enhancements, Payables Management, Receivables Management, Inventory
Control, United States Payroll, Canadian Payroll, or Report Writer. Choose Help >
Printable Manuals for more information.
Some features described in the documentation are optional and can be purchased
through your Microsoft Dynamics GP partner.
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IN T RO D U C T IO N
To view information about the release of Microsoft Dynamics GP that you’re using
and which modules or features you are registered to use, choose Help > About
Microsoft Dynamics GP.
The manual is divided into the following parts.
•
Part 1, Posting setup and control, includes information about how to specify
posting account numbers for cost categories in project budgets and for fees
assigned to projects. It also includes information about how to create batches for
transactions manually, how to modify posting account distributions for
transactions, and how to post multiple batches at once.
•
Part 2, Revenue recognition, includes information about how to create and use
revenue recognition cycles to recognize revenue for multiple customers,
contracts, and projects at once. It also includes information about how to
modify revenue recognition transactions before posting and how revenue is
calculated for recognition.
•
Part 3, Reports and utilities, includes information about reports in Project
Accounting and how to create, group, and print them. It also includes
information about how to enter adjusting transactions to reverse and correct
cost transaction line item entries, and how to delete posted cost and billing
transactions and Closed contracts. The documentation also includes
information about how to use various accounting utilities.
Symbols and conventions
For definitions of unfamiliar terms, see the glossary in the manual or refer to the
glossary in Help.
Symbol
Description
The light bulb symbol indicates helpful tips, shortcuts and suggestions.
The warning symbol indicates situations you should be especially aware
of when completing tasks.
This manual uses the following conventions to refer to sections, navigation and
other information.
Convention
Description
Create a batch
Italicized type indicates the name of a section or procedure.
File > Print or File >> The (>) or (>>) symbol indicates a sequence of actions, such as selecting
Print
items from a menu or toolbar, or pressing buttons in a window. This
example directs you to go to the File menu and choose Print.
TAB or ENTER
All capital letters indicate a key or a key sequence.
Resources available from the Help menu
The Microsoft Dynamics GP Help menu gives you access to user assistance
resources on your computer, as well as on the Web.
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I N T R O D U C T I O N
Contents
Opens the Help file for the active Microsoft Dynamics GP component, and displays
the main “contents” topic. To browse a more detailed table of contents, click the
Contents tab above the Help navigation pane. Items in the contents topic and tab
are arranged by module. If the contents for the active component includes an
“Additional Help files” topic, click the links to view separate Help files that
describe additional components.
To find information in Help by using the index or full-text search, click the
appropriate tab above the navigation pane, and type the keyword to find.
To save the link to a topic in the Help, select a topic and then select the Favorites
tab. Click Add.
Index
Opens the Help file for the active Microsoft Dynamics GP component, with the
Index tab active. To find information about a window that’s not currently
displayed, type the name of the window, and click Display.
About this window
Displays overview information about the current window. To view related topics
and descriptions of the fields, buttons, and menus for the window, choose the
appropriate link in the topic. You also can press F1 to display Help about the current
window.
Lookup
Opens a lookup window, if a window that you are viewing has a lookup window.
For example, if the Checkbook Maintenance window is open, you can choose this
item to open the Checkbooks lookup window.
Show Required Fields
Highlights fields that are required to have entries. Required fields must contain
information before you can save the record and close the window. To change the
way required fields are highlighted, choose Microsoft Dynamics GP menu > User
Preferences > Display, and specify a different color and type style.
Printable Manuals
Displays a list of manuals in Adobe Acrobat .pdf format, which you can print or
view.
Orientation Training
Accesses online tutorials that show you how to complete basic procedures within
Microsoft Dynamics GP. Additional tutorials are available through the
CustomerSource Web site.
What’s New
Provides information about enhancements that were added to Microsoft Dynamics
GP since the last major release.
Microsoft Dynamics GP Online
Opens a Web page that provides links to a variety of Web-based user assistance
resources. Access to some items requires registration for a paid support plan.
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Customer Feedback Options
Provides information about how you can join the Customer Experience
Improvement Program to improve the quality, reliability, and performance of
Microsoft® software and services.
Send us your documentation comments
We welcome comments regarding the usefulness of the Microsoft Dynamics GP
documentation. If you have specific suggestions or find any errors in this manual,
send your comments by e-mail to the following address: bizdoc@microsoft.com.
To send comments about specific topics from within Help, click the Documentation
Feedback link, which is located at the bottom of each Help topic.
Note: By offering any suggestions to Microsoft, you give Microsoft full permission to use
them freely.
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PART 1: POSTING SETUP AND CONTROL
Part 1: Posting setup and control
This part of the documentation includes information for the accounting manager
about how to specify posting account numbers for cost categories in project budgets
and for fees assigned to projects. It also includes information about how to create
batches for transactions manually, how to modify posting account distributions for
transactions, and how to post multiple batches at once.
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•
Chapter 1, “Posting setup,” includes information about the Project Accounting
chart of accounts and how to specify posting account numbers for cost
categories in project budgets and for fees assigned to projects. It also includes
information about how to specify the posting account segment numbers to use
when posting amounts for individual contracts and projects.
•
Chapter 2, “Posting control,” includes information about how to create batches
for transactions, how to review and modify posting account distributions for
transactions in batches, and how to post batches.
A C C O U N T I N G
AC C O U N T I N G
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Chapter 1:
Posting setup
This part of the documentation includes information for the accounting manager
about the Project Accounting chart of accounts and how to specify posting account
numbers for cost categories in project budgets and for fees assigned to projects. It
also includes information about how to specify the posting account segment
numbers to use when posting amounts for individual contracts and projects.
The following topics are discussed.
•
•
•
•
•
•
•
•
•
•
The Project Accounting chart of accounts
The Work In Progress posting account
Specify default posting account numbers for records and classes for cost transactions
Specify default posting account numbers for cost categories in project budgets
Specify posting account numbers for a cost category in a project budget
Specify default posting account numbers for records and classes for fees
Specify default posting account numbers for fees assigned to projects
Specify posting account numbers for a fee assigned to a project
Specify account segment numbers to use when posting amounts for a contract
Specify account segment numbers to use when posting amounts for a project
The Project Accounting chart of accounts
The following chart of accounts is used for Project Accounting.
Account
Typical balance
Financial statement
Cost of Goods Sold (COGS)
Debit
Profit and Loss Statement
Contra
Credit
Balance Sheet
Overhead
Credit
Balance Sheet
Unbilled Accounts Receivable
Debit
Balance Sheet
Unbilled Project Revenue
Credit
Balance Sheet
Inventory
Debit
Balance Sheet
Accrued Purchases
Credit
Balance Sheet
Accounts Payable
Credit
Balance Sheet
Project Revenue
Credit
Profit and Loss Statement
Accounts Receivable
Debit
Balance Sheet
Work In Progress
Debit
Balance Sheet
Project Costs
Debit
Profit and Loss Statement
Project Billings
Credit
Balance Sheet
Project Losses
Credit
Balance Sheet
Earnings in Excess of Billings (EIEB)
Debit
Balance Sheet
Billings in Excess of Earnings (BIEE)
Credit
Balance Sheet
The Work In Progress posting account
The WIP (Work In Progress) posting account is a holding account on the Balance
Sheet. It has a typical debit balance and is used to track actual project costs that
haven’t been billed for Time and Materials projects that use the When Billed
accounting method, or actual project costs for Cost Plus and Fixed Price projects
that haven’t been closed.
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See Accounting methods and recognizing revenue on page 27 for more information. See
also Project types on page 66 in the Project Accounting Cost Management Guide and
Age work in progress amounts for projects that use the When Billed accounting method on
page 45 in the Project Accounting Billing Guide for more information.
Specify default posting account numbers for records
and classes for cost transactions
For various types of records and classes, including customers, contracts, projects,
cost categories, employees, vendors, equipment, and miscellaneous, you can specify
the default posting account numbers to use for cost transactions. You can specify
these settings for Time and Materials projects and for Cost Plus and Fixed Price
projects.
You also can specify the type of record that will be used to determine the default
posting account numbers for cost categories for various cost transaction types. See
Specify default posting account numbers for cost categories in project budgets on page 11
for more information.
1.
Open the window for the record or class that you’re specifying default posting
account numbers to use for cost transactions.
The following table lists the windows and how to open them.
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Record
or class
Window
Choose
Customer
classes
Customer
Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Sales >
Customer Class > select Class ID > Project button >
Accounts button
Customers
Customer
Accounts
Cards > Sales > Customer > select a Customer ID > Project
button > Accounts button
Contract
classes
Contract Class Microsoft Dynamics GP menu > Tools > Setup > Project >
Accounts
Contract Class > Accounts button
Contracts
Contract
Accounts
Cards > Project > Contract > Accounts button
Project classes Project Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Project >
Project Class > Accounts button
Projects
Project
Accounts
Cards > Project > Project > Accounts button
Cost category
classes
Cost Category
Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Project >
Cost Category Class > Accounts button
Cost
categories
Cost Category
Accounts
Cards > Project > Cost Category > Accounts button
Vendor
classes
Vendor Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Purchasing
> Vendor Class > select a Class ID > Project button >
Accounts button
Vendors
Vendor
Accounts
Cards > Purchasing > Vendor > select a Vendor ID > Project
button > Accounts button
Equipment
classes
Equipment
Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Project >
Equipment Class > Accounts button
Equipment
Equipment
Accounts
Cards > Project > Equipment > Accounts button
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Record
or class
Window
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Choose
Miscellaneous Miscellaneous Microsoft Dynamics GP menu > Tools > Setup > Project >
Miscellaneous Class > Accounts button
classes
Class
Accounts
Miscellaneous Miscellaneous Cards > Project > Miscellaneous > Accounts button
Accounts
Employee
classes
Employee
Class
Accounts
Microsoft Dynamics GP menu > Tools > Setup > Payroll >
Employee Class > select Class ID > Project button >
Accounts button
or
Cards > Payroll - Canada >Employee Class > Project button
> Accounts button
Employees
Employee
Accounts
Cards > Payroll > Employee > select an Employee ID >
Project button > Accounts button
or
Cards > Payroll - Canada > Employee > Project button
2.
In the Transaction Type list, select whether to specify settings for timesheets,
employee expense transactions, equipment logs, miscellaneous logs, or
purchases/materials transactions. Purchases/materials is for purchase orders,
shipment receipts, shipment/invoice receipts, invoice receipts, and inventory
transfers with non-inventoried items.
3.
For each posting account, select the account number to use for the record or
class for the cost transaction.
4.
Click OK.
Specify default posting account numbers for cost
categories in project budgets
You can specify the default posting account numbers to use for cost categories in
project budgets, depending on the type of cost transactions that the cost categories
are for. See Cost categories and cost transactions on page 77 in the Project Accounting
Cost Management Guide for more information.
For each type of cost transaction, you must specify the type of record that will be
used to determine the default posting account numbers for cost categories for the
transaction type. You can specify these settings for Time and Materials projects and
for Cost Plus and Fixed Price projects. See Specify default posting account numbers for
records and classes for cost transactions on page 10 for more information.
You also can select specific default posting account numbers or select to use no
default posting account numbers.
After you assign a cost category to a project budget, you can modify the posting
account numbers to use for the cost category in the budget. See Specify posting
account numbers for a cost category in a project budget on page 12 for more information.
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1.
Open the Project Setup Cost Budget Accounts window.
Microsoft Dynamics GP menu > Tools > Setup > Project > Project > Accounts
button
2.
In the Transaction Type list, select whether to specify settings for cost
categories that are for timesheets, employee expense transactions, equipment
logs, miscellaneous logs, or purchases/materials transactions. Purchases/
materials is for purchase orders, shipment receipts, shipment/invoice receipts,
invoice receipts, and inventory transfers with non-inventoried items.
3.
For each posting account, in the Source column select whether to use the
default account number that you’ve specified for the customer, contract, project,
cost category, or transaction owner (Trx Owner) that the cost transaction is for.
The transaction owner is the employee, equipment, miscellaneous, or vendor
record that the cost transaction is for.
Select None if you won’t be updating General Ledger. No default account
number will be used for the posting account.
To use this window to select a specific default account number to use for the
posting account, select Specific and select the account number.
4.
Click OK.
Specify posting account numbers for a cost category
in a project budget
You can specify the posting account numbers to use for a cost category in a project
budget, including the type of record that will be used to determine the default
posting account numbers. See Specify default posting account numbers for records and
classes for cost transactions on page 10 for more information.
You also can select specific default posting account numbers or select to use no
default posting account numbers.
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You also can specify the default posting account numbers to use for cost categories in project
budgets, depending on the type of cost transactions that the cost categories are for. See
Specify default posting account numbers for cost categories in project budgets on page 11 for
more information.
1.
Open the Budget Accounts window.
Cards > Project > Project > Budget Button > Cost Category expansion
button > Accounts button
2.
For each posting account, in the Source column select whether to use the
default account number that you’ve specified for the customer, contract, project,
cost category, or transaction owner (Trx Owner) for the type of cost transaction
that the cost category is for. The transaction owner is the employee, equipment,
miscellaneous, or vendor record that the cost transaction is for.
Select None if you won’t be updating General Ledger. No default account
number will be used for the posting account.
To use this window to select a specific default account number to use for the
posting account, select Specific and select the account number.
3.
Click OK.
Specify default posting account numbers for records
and classes for fees
For various types of records and classes, including customers, contracts, projects,
and fees, you can specify the default posting account numbers to use for fees that
are assigned to projects. You can specify these settings for Time and Materials
projects and for Cost Plus and Fixed Price projects.
You also can specify the type of record that will be used to determine the default
posting account numbers for fees. See Specify default posting account numbers for fees
assigned to projects on page 14 for more information.
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Open the window for the record or class that you’re specifying default posting
account numbers to use for cost transactions.
The following table lists the windows and how to open them.
Record
or class
Window
Choose
Customer
classes
Microsoft Dynamics GP menu > Tools > Setup > Sales >
Customer
Customer Class > select Class ID > Project button > Fee
Class
Accounts - Fee Accounts button
Customers
Customer
Cards > Sales > Customer > select a Customer ID > Project
Accounts - Fee button > Fee Accounts button
Contract
classes
Contract Class Microsoft Dynamics GP menu > Tools > Setup > Project >
Accounts - Fee Contract Class > Fee Accounts button
Contracts
Contract
Cards > Project > Contract > Fee Accounts button
Accounts - Fee
Project classes Project Class
Microsoft Dynamics GP menu > Tools > Setup > Project >
Accounts - Fee Project Class > Fee Accounts button
Projects
Project
Cards > Project > Project > Fee Accounts button
Accounts - Fee
Fees
Fee Accounts
Cards > Project > Fee > Accounts button
2.
For each posting account, select the account number to use for the record or
class for the cost transaction.
3.
Click OK.
Specify default posting account numbers for fees
assigned to projects
You can specify the default posting account numbers to use for fees assigned to
projects. You must specify the type of record that will be used to determine the
default posting account numbers. You can specify these settings for Time and
Materials projects and for Cost Plus and Fixed Price projects. See Specify default
posting account numbers for records and classes for fees on page 13 for more
information.
You also can select specific default posting account numbers, or select to use no
default posting account numbers.
After you assign a fee to a project, you can modify the posting account numbers to
use for the fee for the project. See Specify posting account numbers for a fee assigned to a
project on page 15 for more information.
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1.
Open the Project Setup Fee Accounts window.
Microsoft Dynamics GP menu > Tools > Setup > Project > Project > Fee
Accounts button
2.
For each posting account, in the Source column select whether to use the
default account number that you’ve specified for the customer, contract, project,
or fee.
Select None if you won’t be updating General Ledger. No default account
number will be used for the posting account.
To use this window to select a specific default account number to use for the
posting account, select Specific and select the account number.
3.
Click OK.
Specify posting account numbers for a fee assigned to
a project
You can specify the posting account numbers to use for a fee assigned to a project,
including the type of record that will be used to determine the default posting
account numbers. See Specify default posting account numbers for records and classes for
fees on page 13 for more information.
You also can select specific default posting account numbers, or select to use no
default posting account numbers.
You can specify the default posting account numbers to use for fees assigned to projects. See
Specify default posting account numbers for fees assigned to projects on page 14 for more
information.
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1.
Open the Project Fee Accounts window.
Cards > Project > Project > Fees button > Fee ID expansion button > Accounts
button
2.
For each posting account, in the Source column select whether to use the
default account number that you’ve specified for the customer, contract, project,
or fee.
Select None if you won’t be updating General Ledger. No default account
number will be used for the posting account.
To use this window to select a specific default account number to use for the
posting account, select Specific and select the account number.
3.
Click OK.
Specify account segment numbers to use when
posting amounts for a contract
You can specify the account segment numbers to use for posting accounts when
posting transactions for an individual contract.
An account segment is the portion of the account format that can be used to
represent a specific aspect of a business. For example, accounts can be divided into
segments that represent business locations, divisions, or profit centers.
An account segment number can represent a particular area of a business or an
account category. Using account 01-200-1100, for example, account segment number
01 might represent a particular site, 200 might represent a department located at
that site, and 1100 might represent the Cash account for that site and that
department. To use specific account segment numbers to identify when amounts are
posted to the Cash account for individual contracts handled by a specific
department, for example, you might specify that 201 represents the first contract for
a department and 202 the second contract.
Names can be entered for each account segment number to appear on General
Ledger reports. Use the Account Format Setup window (Microsoft Dynamics GP
menu > Tools > Setup > Company > Account Format) to enter names for account
segments and to modify the account format.
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A C C O U N T I N G
AC C O U N T I N G
C O N T R O L
G U I D E
C H A P T E R
1
P O S T I N G
S E T U P
1.
Open the Account Segment Overrides window.
Cards > Project > Contract > Sub Acct Format expansion button
2.
For each account segment in the scrolling window, you can enter the account
segment number to use when posting amounts for the contract.
3.
Select the posting accounts that the account segment numbers will be used for.
4.
Click OK.
Specify account segment numbers to use when
posting amounts for a project
You can specify the account segment numbers to use for posting accounts when
posting transactions for an individual project.
An account segment is the portion of the account format that can be used to
represent a specific aspect of a business. For example, accounts can be divided into
segments that represent business locations, divisions, or profit centers.
An account segment number can represent a particular area of a business or an
account category. Using account 01-200-1100, for example, account segment number
01 might represent a particular site, 200 might represent a department located at
that site, and 1100 might represent the Cash account for that site and that
department. To use specific account segment numbers to identify when amounts are
posted to the Cash account for individual projects handled by a specific
department, for example, you might specify that 201 represents the first project for a
department and 202 the second project.
Names can be entered for each account segment number to appear on General
Ledger reports. Use the Account Format Setup window (Microsoft Dynamics GP
menu > Tools > Setup > Company > Account Format) to enter names for account
segments and to modify the account format.
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1.
Open the Account Segment Overrides window.
Cards > Project > Project > Sub Acct Format expansion button
2.
For each account segment in the scrolling window, you can enter the account
segment number to use when posting amounts for the project.
3.
Select the posting accounts that the account segment numbers will be used for.
4.
Click OK.
A C C O U N T I N G
AC C O U N T I N G
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G U I D E
Chapter 2:
Posting control
This part of the documentation includes information for the accounting manager
about how to create batches for transactions, how to review and modify posting
account distributions for transactions in batches, and how to post batches.
The following topics are discussed.
•
•
•
Manually create a batch for transactions
Review and modify posting account distributions for transactions
Post batches
Manually create a batch for transactions
You can create batches manually for grouping cost, return from project, billing, and
revenue recognition transactions. You can save transactions in batches and then
post the entire batch of transactions at once.
Batches that you create manually in Project Accounting always use the Single Use
frequency, meaning the batch is used once and is deleted after the batch is posted.
You can use billing cycles and revenue recognition cycles to create batches of billing and
revenue recognition transactions. For more information, see Use a revenue recognition cycle
to generate revenue recognition transactions on page 28 and Use a billing cycle to generate
billing invoices on page 27 of the Project Accounting Billing Guide.
1.
Open a batch entry window.
The following table lists the windows and how to open them.
Transaction Window
Choose
Timesheets
Timesheet
Batch Entry
Transactions > Project > Timesheet Batches
Employee
expense
transactions
Transactions > Project > Employee Expense Batches
Employee
Expense Batch
Entry
Equipment
logs
Equipment
Log Batch
Entry
Transactions > Project > Equipment Log Batches
Miscellaneous Miscellaneous Transactions > Project > Miscellaneous Log Batches
logs
Log Batch
Entry
Inventory
transfers
Transactions > Project > Inventory Batches
Inventory
Transfer Batch
Entry
Return from
project
transactions
Return From
Project Batch
Entry
Transactions > Project > Returns from Project Batches
Billing
invoices and
billing returns
Billing Batch
Entry
Transactions > Project > Billing > Billing Batches
Revenue
recognition
transactions
Revenue
Recognition
Batch Entry
Transactions > Project > Billing > Revenue Recognition
Batches
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2.
Enter a batch ID and comment. The comment is the reference for the batch in
General Ledger.
3.
If you selected Posting Date From: Batch in the Posting Setup window
(Microsoft Dynamics GP menu > Tools > Setup > Posting > Posting), enter a
posting date for the batch.
4.
If the batch is for employee expense transactions or billing invoices or returns,
select the checkbook for the batch.
5.
In the Control column, you can enter the minimum number of transactions or
the minimum total amount that must be entered in the batch before you can
post the batch.
6.
Click Transactions to open the transaction entry window, where you can enter
transactions for the batch.
7.
Click Save and close the window to save the batch.
8.
Before you post the batch, you can print an edit list to review the transactions in
the batch.
9.
Click Post to post the batch.
10. Close the window.
Review and modify posting account distributions for
transactions
You can print an edit list to review posting account distributions for transactions in
a batch. You also can modify distributions before posting the batch.
See Manually create a batch for transactions on page 19 and Use a revenue recognition
cycle to generate revenue recognition transactions on page 28, and also Use a billing cycle
to generate billing invoices on page 27 in the Project Accounting Billing Guide for
more information.
1.
Open a batch entry window.
The following table lists the windows and how to open them.
Transaction Window
Choose
Timesheets
Timesheet
Batch Entry
Transactions > Project > Timesheet Batches
Employee
expense
transactions
Transactions > Project > Employee Expense Batches
Employee
Expense Batch
Entry
Equipment
logs
Equipment
Log Batch
Entry
Transactions > Project > Equipment Log Batches
Miscellaneous Miscellaneous Transactions > Project > Miscellaneous Log Batches
logs
Log Batch
Entry
Inventory
transfers
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Transactions > Project > Inventory Batches
Inventory
Transfer Batch
Entry
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Transaction Window
2
P O S T I N G
C O N T R O L
Choose
Return from
project
transactions
Return From
Project Batch
Entry
Transactions > Project > Returns from Project Batches
Billing
invoices and
billing returns
Billing Batch
Entry
Transactions > Project > Billing > Billing Batches
Revenue
recognition
transactions
Revenue
Recognition
Batch Entry
Transactions > Project > Billing > Revenue Recognition
Batches
2.
Enter the batch ID to review transactions for.
3.
Click Transactions to open the transaction entry window.
4.
Click the printer button to print a transaction edit list. The edit list will include
information about posting account distributions for transactions in the batch.
5.
In the transaction entry window, click Distributions to open the distributions
entry window for the transaction that is displayed.
6.
In the distributions entry window, the scrolling window will display how
amounts have been distributed for the transaction, based on your posting setup.
See Chapter 1, “Posting setup,” for more information.
7.
You can change the debit or credit amounts for the accounts.
8.
You can select additional accounts to enter distributions for, or select a line item
and choose Edit > Delete Row to delete the line item. Click Default to restore
distributions to the way they were before you opened the window and made
changes.
9.
Click OK. The distribution entry window will close.
10. In the transaction entry window, use the browse buttons to view information
for other transactions in the batch. Click OK to close the transaction entry
window.
Post batches
You can post multiple batches of transactions at once, including batches of cost,
billing, and revenue recognition transactions. See Manually create a batch for
transactions on page 19 and Use a revenue recognition cycle to generate revenue
recognition transactions on page 28, and also Use a billing cycle to generate billing
invoices on page 27 in the Project Accounting Billing Guide for more information.
You also can use the Project Series Posting window to post batches of transactions
that were entered using Personal Data Keeper or Time and Expense for Microsoft
Dynamics GP Business Portal, and then processed using Personal Data Keeper. See
the Personal Data Keeper and Time and Expense documentation for more
information.
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1.
Open the Project Series Posting window.
Transactions > Project > Series Post
2.
In the Status column, select the batches to post. You can select a batch and click
the Batch ID link to view more information about the batch.
3.
Click Post.
A C C O U N T I N G
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PART 2: REVENUE RECOGNITION
Part 2: Revenue recognition
This part of the documentation includes information for an accounting manager
about how to create and use revenue recognition cycles to recognize revenue for
multiple customers, contracts, and projects at once. It also includes information
about how to modify revenue recognition transactions before posting and about
how revenue is calculated for recognition.
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•
Chapter 3, “Revenue recognition setup,” includes information about how to
grant users permission to various data entry options for revenue recognition
transactions and how to create revenue recognition cycles so that you can
recognize revenue for multiple customers, contracts, and projects at one time.
•
Chapter 4, “Revenue recognition transactions,” includes information about how
to use a revenue recognition cycle to generate a batch of revenue recognition
transactions and how to modify those transactions before posting. It also
includes information about how revenue is calculated for recognition.
A C C O U N T I N G
AC C O U N T I N G
C O N T R O L
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Chapter 3:
Revenue recognition setup
This part of the documentation includes information for an accounting manager
about how to grant users permission to various data entry options for revenue
recognition transactions and how to create revenue recognition cycles so that you
can recognize revenue for multiple customers, contracts, and projects at one time.
The following topics are discussed:
•
•
Grant revenue recognition transaction entry permissions
Create a revenue recognition cycle record
Grant revenue recognition transaction entry
permissions
You can grant all users permission to various data entry options for revenue
recognition transactions. You also can require a password for each data entry option
to limit user access.
1.
Open the Revenue Recognition Setup Options window.
Microsoft Dynamics GP menu > Tools > Setup > Project > Billing > RR
Options button
2.
Select the data entry tasks to grant permission for.
Override Document Number Allow users to modify the document
number for a revenue recognition transaction.
Override Recognized Revenue Amount Allow users to modify the
amount of revenue to recognize in the To Recognize field in the Revenue
Recognition Entry per Budget Item window and the Revenue Recognition
Entry per Fee Item window. See Specify revenue to recognize for cost categories in a
project budget on page 31 and Specify revenue to recognize for fees on page 32 for
more information.
3.
Click OK.
Create a revenue recognition cycle record
You can create a revenue recognition cycle so that you can recognize revenue for
multiple customers, contracts, and projects at one time. Revenue recognition is for
Cost Plus and Fixed Price projects, and for Service fees used in Time and Materials
projects.
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Customers You can assign revenue recognition cycles to customers and
customer classes when you set them up for billing. See Set up a customer class for
billing on page 22 and Set up a customer record for billing on page 23 in the Project
Accounting Billing Guide for more information.
Contracts You can assign revenue recognition cycles to contracts when you set
them up for billing. See Specify billing settings for a contract on page 62 in the Project
Accounting Cost Management Guide for more information.
Projects You can assign revenue recognition cycles to projects when you set them
up for billing. See Specify billing settings for a project on page 69 in the Project
Accounting Cost Management Guide for more information.
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1.
Open the RR Cycle Maintenance window.
Cards > Project > Revenue Recognition Cycle
2.
In the RR Cycle ID field, enter an alphanumeric name to identify the revenue
recognition cycle.
3.
Enter a description.
4.
Click OK.
A C C O U N T I N G
AC C O U N T I N G
C O N T R O L
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Chapter 4:
Revenue recognition transactions
This part of the documentation includes information for an accounting manager
about how to use a revenue recognition cycle to generate a batch of revenue
recognition transactions and how to modify those transactions before posting. It
also includes information about how revenue is calculated for recognition.
The following topics are discussed:
•
•
•
•
•
•
Accounting methods and recognizing revenue
Percentage complete and revenue recognition calculations
Use a revenue recognition cycle to generate revenue recognition transactions
Enter or modify a revenue recognition transaction
Specify revenue to recognize for cost categories in a project budget
Specify revenue to recognize for fees
Accounting methods and recognizing revenue
Revenue is recognized for a project based on the accounting method used for the
project. You must select the default accounting method to use for new projects in a
contract, and you can select the accounting method to use for individual projects.
See Create a contract record on page 60 and Create a project record on page 66 in the
Project Accounting Cost Management Guide for more information.
Completed
Revenue is recognized for a Cost Plus or Fixed Price project that uses the
Completed accounting method when the project status has been changed to
Completed for all projects in the contract that the project is for. The Project Revenue
account will be updated on the Profit and Loss Statement.
Cost-to-Cost
Revenue is recognized for a Cost Plus or Fixed Price project that uses the Cost-toCost accounting method when you post revenue recognition transactions for the
project. Revenue will be determined by comparing total actual project costs to total
forecast project costs. See Percentage complete and revenue recognition calculations on
page 28 for more information.
Effort-Expended
Revenue is recognized for a Cost Plus or Fixed Price project that uses the EffortExpended accounting method when you post revenue recognition transactions for
the project. Revenue will be determined by comparing total actual project quantities
to total forecast project quantities. See Percentage complete and revenue recognition
calculations on page 28 for more information.
Effort-Expended Labor Only
Revenue is recognized for a Cost Plus or Fixed Price project that uses the EffortExpended Labor Only accounting method when you post revenue recognition
transactions for the project. Revenue will be determined by comparing total actual
time quantities entered on timesheets to total forecast time quantities for the project.
See Percentage complete and revenue recognition calculations on page 28 for more
information.
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When Billed
Revenue is recognized for a Time and Materials project that uses the When Billed
accounting method when you post a billing invoice for the project. The Cost of
Goods Sold account will be updated on the Profit and Loss Statement and the Work
In Progress account will be updated on the Balance Sheet.
When Performed
Revenue is recognized for a Time and Materials project that uses the When
Performed accounting method when you post a cost transaction for the project. The
Cost of Goods Sold account will be updated on the Profit and Loss Statement.
Percentage complete and revenue recognition
calculations
The amount of revenue that you will recognize for a Cost Plus or Fixed Price project
and for the contract that the project is for depends on how you’ve selected to
calculate revenue.
The default method for recognizing revenue is to recognize revenue based on the
percentage complete calculation for individual cost categories in a project budget.
This is the Segmented revenue recognition calculation method.
The percentage that a cost category is complete is based on the actual total costs
incurred for the cost category divided by the forecast budgeted costs for the cost
category. For example, if you have forecasted that you will spend $10,000 on
outsourced administrative costs for a project and you have spent $7,500 to date, the
percentage complete is 75%.
However, you can recognize revenue for a project based on the average percentage
complete calculation for all cost categories in the project budget. You can select
Combine for Revenue Recognition in the Project Maintenance window to indicate
that you will recognize revenue for the project in this way. This is the Combined
from Project revenue recognition calculation method. See Create a project record on
page 66 in the Project Accounting Cost Management Guide for more information.
You also can recognize revenue for a contract based on the average percentage
complete calculation for all projects in the contract. You can select Combine for
Revenue Recognition in the Contract Maintenance window to indicate that you
will recognize revenue for the contract in this way. This is the Combined from
Contract revenue recognition calculation method. See Create a contract record on
page 60 in the Project Accounting Cost Management Guide for more information.
Use a revenue recognition cycle to generate revenue
recognition transactions
You can use a revenue recognition cycle to generate a batch of revenue recognition
transactions to recognize revenue for multiple customers, contracts, and projects at
one time. See Create a revenue recognition cycle record on page 25 for more
information.
Revenue recognition is for Cost Plus and Fixed Price projects, and for Service fees
used in Time and Materials projects.
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R E C O G N I T I O N
T R A N S A C T I O N S
You can generate revenue recognition transactions for Open, Completed, or Closed
contracts and projects. See Contract, project, and cost category statuses on page 44 in
the Project Accounting Cost Management Guide for more information.
1.
Open the RR Cycle Batch Processing window.
Transactions > Project > Billing > Cycle Revenue Recognition
2.
Enter or select a batch ID. See Manually create a batch for transactions on page 19
for more information.
3.
Select a revenue recognition cycle.
4.
You can modify the revenue recognition transaction date and cutoff date.
Revenue recognition transactions will be created for project costs and fees with
dates on or before the cutoff date.
5.
Select Create RR even w/o Earnings and BIEE/EIEB to generate revenue
recognition transactions for projects that have billings in excess of earnings
(BIEE) or earnings in excess of billings (EIEB) and have no revenue to
recognize.
6.
You can modify the path name where the log file will be saved after you
generate revenue recognition transactions. The log file will list any errors that
are encountered. See Configure general settings for billing customers on page 19 in
the Project Accounting Billing Guide for more information.
7.
In the One Transaction Per options, specify whether to generate one revenue
recognition transaction per customer, contract, or project. The option that you
select also will limit revenue recognition to the customers, contracts, or projects
that are assigned to the revenue recognition cycle.
8.
Click Process.
Enter or modify a revenue recognition transaction
You can enter a revenue recognition transaction manually. However, we
recommend that you use a revenue recognition cycle to generate a batch of revenue
recognition transactions for you. After the batch of revenue recognition transactions
has been generated, you can modify the transactions, as necessary. See Use a revenue
recognition cycle to generate revenue recognition transactions on page 28 for more
information.
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The data that you can enter depends on the permissions that you’ve been granted.
See Grant revenue recognition transaction entry permissions on page 25 for more
information.
Revenue recognition is for cost categories and Project fees for Cost Plus and Fixed
Price projects, and for Service fees used in Time and Materials projects. You can
recognize revenue for Open, Completed, or Closed contracts and projects. See
Contract, project, and cost category statuses on page 44 in the Project Accounting Cost
Management Guide for more information.
The amount of revenue that you will recognize for a project depends on how you’ve
selected to calculate revenue for the project and the percentage complete calculation
for individual cost categories in the project budget. See Percentage complete and
revenue recognition calculations on page 28 for more information.
You can use the Revenue Recognition Inquiry window (Inquiry > Project > PA
Transaction Documents > Revenue Recognition) to view posted or saved revenue
recognition transactions.
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1.
Open the Revenue Recognition Entry window.
Transactions > Project > Billing > Revenue Recognition
2.
Enter a document number and date.
3.
You can enter a cutoff date. Revenue will be recognized for project costs and
fees with dates on or before the cutoff date.
4.
Select the customer for the projects that you’re recognizing revenue for.
5.
Enter or select a batch ID. See Use a revenue recognition cycle to generate revenue
recognition transactions on page 28 and also Manually create a batch for transactions
on page 19 for more information.
6.
In the scrolling window, select the projects to recognize revenue for, or select All
Projects to display all projects for the customer. You can select a project and
choose Edit > Delete Row to delete the project from the scrolling window.
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7.
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R E V E N U E
R E C O G N I T I O N
T R A N S A C T I O N S
You can select a project and click the Project No. expansion button to open the
Revenue Recognition More Info window to view actual costs and earned, and
recognized revenue for the project.
The calculations displayed in the FORMULAS USED part of the Revenue Recognition
More Info window are only for projects that use Cost-to-Cost accounting method.
8.
Revenue will be recognized for all cost categories and fees for a project.
However, you can specify the revenue to recognize for individual cost
categories or fees.
•
Select a project and click the Budget expansion button to specify the
revenue to recognize for individual cost categories in the project budget.
See Specify revenue to recognize for cost categories in a project budget on page 31
for more information.
•
Select a project and click the Fees expansion button to specify the revenue
to recognize for individual fees assigned to the project. See Specify revenue to
recognize for fees on page 32 for more information.
You can click Recognize All to recognize revenue for all projects listed in the scrolling
window using all cost categories and fees for the projects. Amounts in the To
Recognize columns will be updated. You also can click Do Not Recognize All to
reduce amounts in the To Recognize columns to zero. If you modify the cutoff date,
modify forecast cost or billing amounts for a project, or change a project status, you can
click Recalculate to recalculate revenue for all projects listed in the scrolling window.
9.
Click Distribution to modify the allocation of transaction amounts to specific
posting accounts. See Review and modify posting account distributions for
transactions on page 20 for more information.
10. If the transaction is in a batch, click Save. Otherwise, click Post.
Specify revenue to recognize for cost categories in a
project budget
You can specify the revenue to recognize for individual cost categories in a project
budget. Revenue recognition is for cost categories in Cost Plus and Fixed Price
project budgets. See Enter or modify a revenue recognition transaction on page 29 for
more information.
You can recognize revenue for Open, Completed, or Closed contracts and projects.
See Contract, project, and cost category statuses on page 44 in the Project Accounting
Cost Management Guide for more information.
The amount of revenue that you will recognize for a cost category depends on how
you’ve selected to calculate revenue for the project and the percentage complete
calculation for individual cost categories in the project budget. See Percentage
complete and revenue recognition calculations on page 28 for more information.
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1.
Open the Revenue Recognition Entry per Budget Item window.
Transactions > Project > Billing > Revenue Recognition > Budget expansion
button
2.
Select the cost transactions to display cost categories for in the scrolling
window. Click Redisplay to update the scrolling window.
3.
In the To Recognize column, modify the amount of revenue to recognize for a
cost category.
You can click Recognize All to recognize revenue for all cost categories listed in the
scrolling window. Amounts in the To Recognize column will be updated. You also can
click Do Not Recognize All to reduce amounts in the To Recognize column to zero.
4.
Click OK.
Specify revenue to recognize for fees
You can specify the revenue to recognize for individual fees assigned to a project.
Revenue recognition is for Project fees for Cost Plus and Fixed Price projects, and
for Service fees used in Time and Materials projects.
You can recognize revenue for Open, Completed, or Closed contracts and projects.
See Contract, project, and cost category statuses on page 44 in the Project Accounting
Cost Management Guide for more information.
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T R A N S A C T I O N S
1.
Open the Revenue Recognition Entry per Fee Item window.
Transactions > Project > Billing > Revenue Recognition > Fee expansion
button
2.
Select whether to display Project or Service fees in the scrolling window. Click
Redisplay to update the scrolling window.
3.
In the To Recognize column, modify the amount of revenue to recognize for a
fee.
You can click Recognize All to recognize revenue for all fees listed in the scrolling
window. Amounts in the To Recognize column will be updated. You also can click Do
Not Recognize All to reduce amounts in the To Recognize column to zero.
4.
Click OK.
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PART 3: REPORTS AND UTILITIES
Part 3: Reports and utilities
This part of the documentation includes information for the accounting manager
about reports in Project Accounting and how to create, group, and print them. It
also includes information about how to enter adjusting transactions to reverse and
correct cost transaction line item entries, and how to delete posted cost and billing
transactions and Closed contracts. The documentation also includes information
about how to use various accounting utilities.
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•
Chapter 5, “Reports,” includes information about how to create, group, and
print reports. It also includes information about the various reports in Project
Accounting.
•
Chapter 6, “Adjusting transactions,” includes information about how to enter
adjusting transactions to reverse—or to reverse and correct—line item entries
on posted timesheets, employee expense transactions, equipment logs, or
miscellaneous logs.
•
Chapter 7, “Transaction and record deletion,” includes information about how
to delete posted cost and billing transactions, and how to delete Closed
contracts.
•
Chapter 8, “Accounting utilities,” includes information about how to use
various utilities to clear paid billing invoices from lookup windows, recalculate
project budget totals by fiscal period, and delete project budget totals that aren’t
within fiscal years.
A C C O U N T I N G
AC C O U N T I N G
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Chapter 5:
Reports
This part of the documentation includes information for the accounting manager
about how to create, group, and print reports. It also includes information about the
various reports in Project Accounting.
The following topics are discussed.
•
•
•
•
•
Create and print report options
Create report groups
Report destinations and formats
Reports list
Project Accounting reports
Create and print report options
Before you can print most Project Accounting reports, you need to specify a report
option. A report option is a set of saved parameters for a particular report that you
can use to print the report, rather than reenter each parameter. A typical report
option specifies information about sorting, restriction, printing, and the type of
information to display on the report. You can create 32 report options.
1.
Open a reports window. For this example, use a Project Maintenance report.
Reports > Project > Maintenance
2.
Select a report type from the drop-down list. For this example, select Customer
List.
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3.
Click New, or highlight a report option and click Modify to set up the report
parameters. For this example, click New; the Project Maintenance Report
Options window opens.
Each report option window contains different selections, appropriate to the type of
information available to display on the report.
4.
Specify a name for the option.
5.
Specify a sorting method and items to include or exclude.
6.
To enter a range, select a type of information from the Ranges list, and then
enter the beginning of the range in the From field and the end of the range in
the To field.
7.
Click Insert to add the range to the Restrictions list. Specify additional ranges,
if necessary. The report will contain only records that include data within the
range selected.
You can create only one restriction for each type of information. For example, if you
enter a restriction to print records for the first five of 25 users, you can’t enter another
restriction to print records for the last 10 users.
8.
To select printing destinations, click Destination. Reports can be printed to the
screen, to the printer, to a file, or to any combination of these options. If you
mark Ask Each Time, you can select printing options each time you print this
report option.
If you mark File, you can specify a file name and format, and whether to replace
any previous versions of the file, or append new information to an existing file.
for more information, see Report destinations and formats on page 39.
9.
Save the destination information and the report option, and return to the
original report window.
10. Select the report option and click Insert.
11. Click Print.
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Create report groups
You can use report groups to print a group of report options in a single step.
Before completing this procedure, you must specify report options for the reports in
the group. For more information, see Create and print report options on page 37.
Only reports created using Microsoft Dynamics GP report options can be grouped.
Customized reports created using Report Writer or Crystal Reports can’t be added to
groups.
1.
Open a report group window.
Reports > Project > Groups
2.
Select a report category and report.
3.
To include a report option in a group, select the option and click Insert. You can
add up to 32 report options to a single group.
4.
Click Save to save the group. If you’re saving a new report group, the Save
window will open, where you can specify a name for the group.
5.
Click Print.
After you have created report groups, you can select them from the Project
Group list and click Print.
Report destinations and formats
You can print reports to a printer, the screen, a file, or a combination of these
destinations.
•
If you print to the printer, the report is printed to the default printer that’s been
set up for your operating system, unless the report has been assigned to a
named printer. Refer to the “Printers” chapter in the System Administrator’s
Guide (Help > Printable Manuals) for more information.
•
If you print to the screen, the report appears on the screen and you then can
choose to print to the printer. In addition, if you’re using an e-mail system that’s
compliant with MAPI (Microsoft’s Messaging Application Program Interface),
you can send any report that you print to the screen in an e-mail message.
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•
If you print to a file, you can select a file format.
The following table lists more information about the file formats that you can
select.
File format
Description
Tab-delimited
The tab-separated ASCII character format used by spreadsheet
programs, such as Microsoft Excel®.
Comma-delimited
The standard comma-separated ASCII character format used by
database programs.
Text file
Text with no formatting. Use this option when the application to
which you are converting the document is unable to read any of the
other file formats.
HTML file
The format used for publishing information on the World Wide Web.
Use this format for information that will be posted on your company’s
intranet or web page.
Adobe PDF file
This format is available if you have Acrobat Distiller or PDFWriter
installed. These items can be purchased from Adobe Systems. PDF
(Portable Document Format) files can be read using the Adobe
Reader software, which is available from www.adobe.com.
You can select a printing destination in different ways, depending on which
printing method you use.
•
If you print a report by choosing File > Print or clicking Print while a window
is open, the Report Destination window appears, where you can select a
destination. (You can select a preferred default destination—Printer or Screen—
in the User Preferences window.)
•
You can select printing options and destinations for posting journals and other
reports in the Posting Setup window. You can select to be asked each time
where a specific report or journal should be printed to, or you can select specific
printing destinations to be used each time, such as to the screen, to a file, or to a
printer.
•
For analysis, history, and setup reports and posting journal reprints, you select
the destination when you create the report options needed to print these
reports.
Reports list
You can open the Report List window for Project Accounting by clicking the Project
button in the navigation pane and then clicking Report List. The reports list
contains reports, SmartList favorites, and custom reports.
Project Accounting reports
You can print various reports in Project Accounting, including trial balance,
employee utilization, cash budget, earned value analysis, performance, and billing
reports. You also can print statements and reports about change orders.
Trial balance
Use the PA Detailed Trial Balance Reports window (Reports > Project > Detailed
Trial Balance) to print a detailed trial balance, summary trial balance, or trial
balance worksheet. Trial balances are used to illustrate that debits equal credits for a
range of accounts.
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To print a detailed trial balance, you must select the Create a Journal Entry Per
Transaction option for the Project series in the Posting Setup window (Microsoft
Dynamics GP menu > Tools > Setup > Posting > Posting). See the System Setup
documentation (Help > Printable Manuals) for more information.
Employee utilization
Use the Employee Utilization Report Options window (Reports > Project >
Employee Utilization) to print utilization reports that list the billable and nonbillable time, rates, and billing amounts for employees in a given year, month, or the
year to-date.
Report
Description
Annual Employee Utilization
A list of billable and non-billable time, rates, and billing
amounts for employees in a given year.
Annual Utilization-Department
A list of billable and non-billable time, rates, and billing
amounts for employees in a given year by department.
Annual Utilization-Position
A list of billable and non-billable time, rates, billing amounts,
percentage of utilization, and realization. This report sorts the
employees by their positions.
Monthly Employee Utilization
A list of billable and non-billable time, rates, and billing
amounts for employees in a given month.
Monthly Utilization-Department A list of billable and non-billable time, rates, and billing
amounts for employees in a given month by department.
Monthly Utilization-Position
A list of billable and non-billable time, rates, and billing
amounts for employees in a given month by position.
YTD Employee Utilization
A list of billable and non-billable time, rates, and billing
amounts for employees in a given year to date.
YTD Utilization-Department
A list of billable and non-billable time, rates, and billing
amounts for employees in a given year to date by department.
YTD Utilization-Position
A list of billable and non-billable time, rates, and billing
amounts for employees in a given year to date by position.
Cash budget
Use the Budget Report Options window (Reports > Project > Budget) to print a
cash budget report for your company, customer, contract, or project for the fiscal
period that you select.
Earned value analysis
Use the Project Status Report Options window (Reports > Project > Project Status)
to print an earned value analysis report to view a measurement of project
performance. Earned value measures the cost of work performed and whether the
actual costs incurred are on budget.
Statements
Use the Statement Report Options window (Reports > Project > Statement) to print
statements for customers. The statements will include a summary of accounts
receivable information.
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Performance
Use the Performance Report Options window (Reports > Project > Performance) to
print reports that list work in progress and also contract revenue and write-down
amounts. You also can print a report listing Closed contracts.
Report
Description
Contracts Completed
A list of all Closed contracts for the company.
Contracts in Progress
A list of all contracts in progress.
Contracts in Progress Customer
A list of all contracts in progress by customer.
Earnings from Contracts
The revenue from all contracts for the company.
Net Write-downs
The net write-downs in excess of a limit specified when you
print the report. It lists net write-downs for the current period
and for the year-to-date.
Projects in Progress - Cost
Category
A list of all projects in progress by cost category.
Projects in Progress - Customer
A list of projects in progress by customer.
Change orders
Use the Change Order Reports window (Reports > Project > Change Order) to
print reports that list Unapproved, Approved, or Completed change orders that
have been entered for a project.
Change Order Estimate report A list of the Unapproved change orders for
each project in a contract.
Change Order report A list of the Approved change orders for each project in a
contract.
Change Order History report A list of the Completed change orders for each
project in a contract.
Billing
Use the Billing Activity Report Options window (Reports > Project > Billing
Activity) to print reports that list aged work in progress for customers, contracts,
projects, and cost categories. You also can print a list of fees that customers have
been billed for and a list of Retentions fee amounts for customers and contracts.
You can print a list of billing invoices for a fiscal period, and you can print prebilling worksheets for projects, including in-process worksheets that include saved
billing invoices and billable worksheets that include all billing invoices.
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Report
Description
Aged Work-In-Progress List
Work in progress for all aging periods and the balances or work
in progress for each customer for each period.
Aged Work-In-Progress
Project
Work in progress for all aging periods and the balances or work
in progress for each project for each period.
Aged Work-In-Progress
Contract
Work in progress for all aging periods and the balances or work
in progress for each contract for each period.
Aged Work-In-Progress
Budget
Work in progress for all aging periods and the balances or work
in progress for each cost category in project budgets for each
period.
Fee List - Project
A list of all fees for all projects for each customer.
Invoice Register
Lists all billing invoices that have been posted in Accounts
Receivables for the current period.
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Report
Description
Pre-Billing Worksheet - CP/FP
A list of pre-billing worksheets for Cost Plus or Fixed Price
projects. You can print two types of pre-billing worksheets: in
process, or those that include saved billing invoices and billable,
or those that include all billing invoices.
Pre-Billing Worksheet - TM
A list of pre-billing worksheets for Time and Materials
projects. You can print two types of pre-billing worksheets: in
process, or those that include saved billing invoices and billable,
or those that include all billing invoices.
Retention - Customer
A list of Retentions fee amounts for contracts for specified
customers.
Retention - Project
A list of Retentions fee amounts for each contract for the
company.
Work in Progress
A list of projects in progress.
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Chapter 6:
Adjusting transactions
This part of the documentation includes information for the accounting manager
about how to enter adjusting transactions to reverse—or to reverse and correct—
line item entries on posted timesheets, employee expense transactions, equipment
logs, or miscellaneous logs.
You can’t adjust original entries for transactions that previously have been reversed
or reversed and corrected.
The following topics are discussed.
•
•
•
Exceed total cost, quantity, or revenue on adjusting transactions
Reverse cost transaction line items
Reverse and correct cost transaction line items
Exceed total cost, quantity, or revenue on adjusting
transactions
You can’t post adjusting transactions if one or more of the following criteria are true.
•
The total cost for the adjusting transaction exceeds the total cost specified for
the cost category in the project budget and Exceed Total Budget Costs isn’t
selected in the Timesheet Setup Options window, Employee Expense Setup
Options window, Equipment Log Setup Options window, or Miscellaneous Log
Setup Options window.
•
The total quantity for the adjusting transaction exceeds the total quantity
specified for the cost category in the project budget and Exceed Total Budget
Quantity isn’t selected in the Timesheet Setup Options window, Employee
Expense Setup Options window, Equipment Log Setup Options window, or
Miscellaneous Log Setup Options window.
•
An amount on the adjusting transaction exceeds the total revenue specified for
the cost category in a Time and Materials project budget and Exceed Total
Budget Revenue/Profit isn’t selected in the Timesheet Setup Options window,
Employee Expense Setup Options window, Equipment Log Setup Options
window, or Miscellaneous Log Setup Options window.
If you’re permitted to exceed total cost, quantity, or revenue for a cost category in a
project budget and you’re required to enter a password for the permission, you
must enter the password to post the adjusting transaction.
See Grant cost transaction data entry permissions on page 96 in the Project Accounting
Cost Management Guide for more information.
Reverse cost transaction line items
You can create adjusting transactions to reverse line items entered on timesheets,
employee expense transactions, equipment logs, or miscellaneous logs.
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1. Open a window to select cost transaction line items for adjustment.
The following table lists the windows and how to open them.
Transaction Window
Choose
Timesheets
Transactions > Project > PA Transaction Adjustment >
Select
Timesheets for Select Timesheets for Adjustment
Adjustment
Employee
expense
transactions
Select
Expenses for
Adjustment
Transactions > Project > PA Transaction Adjustment >
Select Expenses for Adjustment
Equipment
logs
Select
Equipment for
Adjustment
Transactions > Project > PA Transaction Adjustment >
Select Equipment for Adjustment
Transactions > Project > PA Transaction Adjustment >
Miscellaneous Select
logs
Miscellaneous Select Miscellaneous for Adjustment
for Adjustment
2.
Select the line items to display. Click Redisplay.
3.
Select one or more line items and click Reverse to open the adjustment entry
window.
4.
In the adjustment entry window, you can modify the document date for the
adjusting transactions that will be created.
5.
You can enter a batch ID to save the adjusting transactions in a batch. Click Save
to save the batch. Otherwise, click Post.
Reverse and correct cost transaction line items
You can create adjusting transactions to reverse and correct line items entered on
timesheets, employee expense transactions, equipment logs, and miscellaneous
logs.
1. Open a window to select cost transaction line items for adjustment.
The following table lists the windows and how to open them.
Transaction Window
Choose
Timesheets
Transactions > Project > PA Transaction Adjustment >
Select
Timesheets for Select Timesheets for Adjustment
Adjustment
Employee
expense
transactions
Select
Expenses for
Adjustment
Transactions > Project > PA Transaction Adjustment >
Select Expenses for Adjustment
Equipment
logs
Select
Equipment for
Adjustment
Transactions > Project > PA Transaction Adjustment >
Select Equipment for Adjustment
Transactions > Project > PA Transaction Adjustment >
Miscellaneous Select
logs
Miscellaneous Select Miscellaneous for Adjustment
for Adjustment
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2.
Select the line items to display. Click Redisplay.
3.
Select one or more transaction line items and click Correct to open the
adjustment entry window.
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4.
In the adjustment entry window, you can modify the document date for the
adjusting transactions that will be created.
5.
Enter a batch ID to save the adjusting transactions in a batch.
6.
You can select the project that the adjusting transactions are for, or select Use
<None> Project to indicate that the transactions aren’t for a specific project.
7.
You can select the cost category that the adjusting transactions are for. Select
Allow Add Access on the Fly to add the cost category to project budgets if
you’re not using the cost category in those budgets already.
8.
For the unit cost, overhead amount or percentage, billing type, and billing rate
or markup percentage, you can select Update to update amounts using current
budget settings or select Override to enter specific amounts or percentages.
9.
Click Save to save the batch or click Post to post the transactions.
If you’re not permitted to exceed total cost, quantity, or revenue for a cost category in a
project budget, you can’t post the adjusting transaction. See Exceed total cost, quantity,
or revenue on adjusting transactions on page 45 for more information.
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Chapter 7:
Transaction and record deletion
This part of the documentation includes information for the accounting manager
about how to delete posted cost and billing transactions, and how to delete Closed
contracts.
The following topics are discussed.
•
•
•
Delete Closed contracts
Delete posted cost transactions
Delete posted billing invoices and returns
Delete Closed contracts
You can delete Closed contracts.
1.
Open the Mass Contract Delete window.
Microsoft Dynamics GP menu > Tools > Utilities > Project > Mass Contract
Delete
2.
Select a range of contracts to delete. Select Print Deleted Contracts to print a
report listing the contracts that were deleted after you delete them.
3.
Click OK.
Delete posted cost transactions
You can delete posted timesheets, employee expense transactions, equipment logs,
miscellaneous logs, and inventory transfers.
1.
Open the Remove Cost History window.
Microsoft Dynamics GP menu > Tools > Utilities > Project > Remove Cost
History
2.
Select a range of contracts or projects or a range of dates to delete posted
transactions for. Select the type of transactions to delete.
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3.
Select Print Report to print a list of the transactions that were deleted after you
delete them.
4.
Click OK.
Delete posted billing invoices and returns
You can delete posted billing invoices and returns.
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1.
Open the Remove Billing History window.
Microsoft Dynamics GP menu > Tools > Utilities > Project > Remove Billing
History
2.
Select a range of contracts or projects or a range of dates to delete posted billing
transactions for.
3.
Select Print Report to print a list of the transactions that were deleted after you
delete them.
4.
Click OK.
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Chapter 8:
Accounting utilities
This part of the documentation includes information for the accounting manager
about how to use various utilities to clear paid billing invoices from lookup
windows, recalculate project budget totals by fiscal period, and delete project
budget totals that aren’t within fiscal years.
The following topics are discussed.
•
•
•
Clear paid billing invoices from lookup windows
Recalculate project budget totals by fiscal period
Delete project budget totals that aren’t within fiscal years
Clear paid billing invoices from lookup windows
You can clear paid billing invoices from lookup windows.
1.
Open the Paid Transaction Removal window.
Microsoft Dynamics GP menu > Tools > Routines > Project > Paid
Transaction Removal
2.
Select a range of customers to clear paid billing invoices for. You can limit the
range of customers to a range of customer classes.
3.
Select Print Register to print a list of the paid billing invoices that were cleared
after you clear them.
4.
You can enter a cutoff date. Only transactions with a document date on or
before the cutoff date will be cleared.
5.
Click Process.
Recalculate project budget totals by fiscal period
You can recalculate project budget totals by fiscal period. See Modify project budget
amounts for a cost category by fiscal period on page 84 in the Project Accounting Cost
Management Guide for more information.
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1.
Open the Recreate Periodic window.
Microsoft Dynamics GP menu > Tools > Utilities > Project > PA Recreate
Periodic
2.
Select the customers that you’re recalculating project budget totals for.
3.
Select Recreate Periodics.
4.
Select Print Report to print a list of the projects that you recalculated budget
totals for after you recalculate them.
5.
Click Process.
6.
Click Done.
Delete project budget totals that aren’t within fiscal
years
You can delete project budget totals that aren’t within fiscal years if, for example,
you mistakenly entered a transaction using a date that isn’t within the fiscal years
that you’ve set up. See Modify project budget amounts for a cost category by fiscal period
on page 84 in the Project Accounting Cost Management Guide for more
information.
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1.
Open the Recreate Periodic window.
Microsoft Dynamics GP menu > Tools > Utilities > Project > PA Recreate
Periodic
2.
Select the customers that you’re deleting project budget totals for.
3.
Select Delete Periodic Records Outside Fiscal Years.
4.
Select Print Report to print a list of the projects that you deleted budget totals
for after you delete them.
5.
Click Process.
6.
Click Done.
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Glossary
access list
An employee access list or an equipment
access list. The list of employees who can
enter transactions for a specific project, or
the list of equipment that can be used when
entering equipment log transactions for a
specific project.
account
The type of record—asset, liability, revenue,
expense or owner’s equity—traditionally
used for recording individual transactions in
an accounting system.
account balance
The difference between the debit amount
and the credit amount of an account.
account format
The structure defined for account numbers,
including the number of segments in the
format and the number of characters in each
segment.
account number
The identifying alphanumeric characters
that have been assigned to an account.
account segment
A portion of the account format that can be
used to represent a specific aspect of a
business. For example, accounts can be
divided into segments that represent
business locations, divisions, or profit
centers.
account segment number
A number that represents a particular area of
a business or an account category. Using
account 01-200-1100, for example, account
segment number 01 might represent a
particular site, 200 might represent a
department located at that site, and 1100
might represent the Cash account for that
site and that department. Descriptions can
be entered for each account segment number
and appear on General Ledger reports.
accounting method
A method used to calculate revenue for a
project or contract. Accounting methods
include: Completed, Cost-to-Cost, EffortExpended, Effort-Expended Labor Only,
When Billed, and When Performed.
accrued revenue
Revenue that has been earned for actual
project costs, but not collected. For Time and
Materials projects, accrued revenue is based
on forecast billing amounts for both saved
and posted cost transactions. For Cost Plus
and Fixed Price projects, revenue is accrued
when you recognize revenue.
active employee
base unit of measure
An employee whose records are active and
that you can include in transactions that
require employee IDs.
actual
A project budget amount that represents cost
and billing amounts based on the
transactions that you’ve entered. You can use
actual amounts to measure project
performance against forecast and baseline
budget amounts.
adjusting transaction
A transaction that you can enter to reverse—
or to reverse and correct—line item entries
on posted timesheets, employee expense
transactions, equipment logs, or
miscellaneous logs.
adjustment
Increases or decreases to inventory
quantities based on receivings or allocations.
Typically, the smallest quantity on a Unit of
Measure schedule in which items can be
bought or sold. The base unit of measure is
common to all named quantities entered for
a Unit of Measure schedule. For example, for
the item “soda,” the base unit of measure
might be “Can” because all the other units of
measure are multiples of a single can.
baseline
A project budget amount used as a basis for
comparison to measure project performance.
Baseline amounts are entered to estimate
cost and billing amounts for a project. You
can measure project performance by
comparing forecast and actual amounts
against the baseline. Project managers
typically refer to the cost baseline, which is
created during cost budgeting. Baseline
amounts for billing also are calculated in
Project Accounting.
batch
age
To subtract the document date from the date
you’re aging from to determine the age of
the document.
aging
The process that determines the maturity of
a document or account, or the number of
days that the document or account has been
outstanding. Aging places each transaction
in the appropriate current or past-due aging
category.
analysis
The process of evaluating the condition of an
accounting record and possible reasons for
discrepancies.
applying
The process of linking the payment amount
to amounts from one or more documents
that are being paid.
audit trail
A series of permanent records used to track a
transaction to the point where it was
originally entered in the accounting system.
The audit trail can be used to verify the
accuracy of financial statements by outside
accountants or auditors.
bank card
A type of credit card whose payments may
be treated as cash by the business receiving
the payment. Bank cards differ from charge
cards, whose payments must be collected
from the company issuing the card before
they can be considered received.
A group of transactions identified by a
unique name or number. Batches are used to
conveniently group transactions, both for
identification purposes and to speed the
posting process.
batch posting
An option used to post a group of
transactions identified by a unique name or
number.
begin date
The date that you can begin entering cost
transactions using a specific cost category in
a project budget.
billable amount
An amount that you can bill customers for.
The default billing type for a cost category is
STD, or Standard, meaning that transaction
amounts that you enter using the cost
category will be billable.
billing
To generate and print invoices to charge
customers for items or services that have not
been paid for.
billing currency
The currency used on a billing invoice.
billing cycle
A record that identifies when and how often
to bill customers for projects. Billing invoices
can be generated using billing cycles.
billing discounts
A percentage that is deducted from the
overall billing amount for a contract or
project.
billing format
A group of invoice formats that have been
selected to be printed together when billing
customers.
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billing frequency
change order status
The frequency that a billing cycle will be
used to create billing invoices for a customer.
billing invoice
A transaction that you can use to charge
customers for items purchased and services
rendered for a project. Also refers to the
document that you print to send to the
customer to bill them.
billing note
The information that you can type in the
Billing Note window for contracts, projects,
cost categories, fees, and cost transactions
that will appear on billing invoices. You can
click the billing note button adjacent to a
field to enter a billing note.
billing rate
The amount that a customer is billed for a
single unit quantity of an item or time.
billing return
A transaction that you can use to credit
customers for amounts that have been billed
using a billing invoice. You only can enter
billing returns to credit customers for billed
amounts for Time and Materials projects.
billing transaction
A billing invoice or billing return.
billing type
A selection that specifies whether and how a
project cost will be billed. Billing types
include Standard, Non-billable, and No
Charge. They are abbreviated STD, N/B, and
N/C.
business manager
check
cash
checkbook
An account used to maintain a currency
balance and to track cash that is received and
disbursed.
cash budget
A budget that presents expected cash flow—
both in and out—for a designated time
period.
cash receipt
A document used to record payments and
deposits received from customers.
change order
A transaction that you can use to modify
project budgets and fee assignments and to
enter quote information for projects. Change
order types include Internal, Company, and
Customer.
P R O J E C T
A C C O U N T I N G
A group of records that share common
characteristics.
close
To suspend or end cost accruals for a
customer, contract, or project.
combined revenue
The result of adding together revenue from a
group of projects within a contract, or from
separate cost categories within a project
budget.
commission
The amount, usually a percentage of the sale
amount, paid to the salesperson making the
sale.
A group of projects that a contractor
completes for a customer, and for which the
contractor bills the customer for various
costs.
The sum of the project amounts in a contract.
The original contract amount is the sum of
the project amounts in the contract, not
including change orders. The revised
contract amount is the sum of the project
amounts in the contract, including change
orders. The contract amount also includes
taxes, trade discounts, freight, and
miscellaneous charges.
contract class
A group of contracts. You can use contract
classes to define parameters for contracts
within the group.
contract manager
The person who oversees all aspects of
contract preparation and administration.
AD M I N I S T R A TO R ’ S
A framework that contains information for
creating a new contract record.
contract total
See contract amount.
cost category
The framework used to track and group
expenses by kind for a project budget. You
must select the type of cost transaction that a
cost category will be used for and whether or
not inventoried items will be used with the
cost category.
cost category class
class
contract amount
Ready money or its equivalent that a bank
will accept at face value. Cash includes coins;
paper money; certain deposited negotiable
instruments such as checks, bank drafts, and
money orders; amounts in checking and
savings accounts; and demand certificates of
deposit.
The progress of a contract. Contract statuses
include Closed, Completed, Estimate, On
Hold, Open, and additional statuses that you
can name.
contract template
A written order on a bank to pay a sum of
money from funds in an account. Checks
show the name of the company or individual
receiving payment, the signature and
account number of the person issuing the
check, the payment amount and the current
date. Checks usually are numbered in
sequence.
contract
A person who manages the business
functions for a project, such as contracting,
planning, scheduling, budgeting, and so
forth.
54
contract status
Indicates the progress of a change order.
Change order statuses include Approved,
Canceled, Completed, Pending, and
Unapproved.
G U I D E
A group of cost categories. You can use cost
category classes to define parameters for cost
categories within a group.
cost category status
The progress of a cost category in a project
budget. Cost category statuses include
Closed, Completed, Estimate, On Hold, and
Open.
cost description
A user-defined name for a cost transaction
type that will be displayed for the
transaction in various windows.
cost of revenue
An amount that is calculated as total cost
minus overhead.
Cost Plus project
A type of project in which the customer pays
for actual project costs plus a fee. Each
billing invoice is for a percentage of the final
total that is calculated using forecast budget
amounts.
cost transaction
A transaction that you enter to track project
costs. Cost transactions include timesheets,
employee expense transactions, equipment
logs, miscellaneous logs, inventory transfers,
return from project transactions, shipment
receipts, and shipment/invoice receipts.
credit
To enter an amount that decreases the
balance of an asset or expense account or
increases a liability, owners’ equity, or
revenue account; the right side of any T
account.
G L O S S A R Y
credit card
Cards used to pay for items instead of a
check, cash, or other method. The amount
due is then billed by the credit card
company. Using the Credit Card Setup
window, cards used to make payments can
be classified as credit cards or check cards.
Cards accepted as payment by a company
can be classified as bank cards or charge
cards.
credit memo
A document that credits a customer’s or
vendor’s account and explains the reason for
the credit.
currency
Any form of money, including bills and
coins, used as a medium of exchange.
customer
The entity with which a business unit
conducts a business transaction.
customer alias
A string of up to five characters for a specific
customer used as the basis for creating a
contract number for the customer.
customer class
A group of customers that you can define
parameters for.
customer payment
A transaction to track money that is paid by
a customer for goods or services.
debit
To enter an amount that increases an asset or
expense account, or decreases the balance of
a liability, owners’ equity or income account;
the left side of any T account.
department
A business division that incurs costs and/or
generates revenue.
department code
A unique alphanumeric name used to
identify a department.
details
Individual amounts that you enter in a
transaction, as opposed to summary, which
is the calculated total amounts.
discount available
A reduction in the amount payable, typically
offered if the payment is made by a certain
date.
discount date
The date an invoice must be paid for a
discount to be valid.
distribution accounts
Accounts designated to receive a percentage
or part of a posted transaction, or accounts
assigned to a fixed or variable allocation
account that will receive a percentage of
posted transaction amounts.
distributions
equipment log
The manner in which amounts from a
transaction are divided up among posting
accounts.
document
All the information entered for a single,
complete transaction, including distribution
amounts (if any).
document date
The date when a document or transaction is
created.
document number
earned value analysis
A method for measuring project
performance. It indicates how much of the
budget should have been spent in view of
the amount of work completed so far and the
baseline cost for the project.
earnings
The net income for a contract or project.
employee
A person who works for your company and
receives payment for work performed.
employee access list
The list of employees who can enter
transactions for a specific project.
The amount that you bill a customer per unit
of time for using a piece of equipment for a
project.
equipment rate table
A list of equipment and the cost and profit
for whenever the equipment is used for a
project.
An amount that a customer pays for services
over and above project costs. Also, an
amount that is paid in advance or an amount
that is withheld until project completion.
Fees include Project, Service, Retainer, and
Retentions.
fee calculation method
A method of determining how a fee is
calculated and the fee frequencies that you
can select for a fee. Fee calculation methods
include % of Baseline Cost, % of Baseline
Revenues, Fee Amount, and Retention
Percent.
fee frequency
A framework for when and how often a
customer is billed for a fee. Fee frequencies
include At Project Completion, Per Invoice,
and Scheduled.
fee template
employee class
A group of employees that you can define
parameters for.
A framework that contains information for
creating a new fee record.
Fixed Price project
employee expense transaction
A transaction that you enter to track project
costs that are incurred by an employee while
working on a project, for example, travel
expenses.
employee rate table
A list of employees and the cost and profit
for whenever an employee works on a
project.
end date
The last day that you can enter cost
transactions using a specific cost category in
a project budget.
equipment
Machines, tools, or other equipment used for
a project.
A type of project in which the customer pays
a predetermined amount for the entire
project. Each billing invoice is for a
percentage of the predetermined total billing
amount.
fiscal period
Divisions of the fiscal year, usually monthly,
quarterly, or semiannually, when transaction
information is summarized and financial
statements are prepared.
fiscal year
An accounting cycle composed of up to 30
consecutive periods, spanning the number of
days in a year. In Australia and New
Zealand, the fiscal year is referred to as a
financial year.
forecast
equipment access list
The list of equipment that can be used when
entering equipment log transactions for a
specific project.
equipment class
A group of equipment records that you can
define parameters for.
ACCOUNTING
equipment rate
fee
A number that identifies a group of entries
that have been posted as a single, complete
transaction.
PROJECT
A transaction used to track the cost for using
equipment for a project.
A project budget amount that you can
modify as a project progresses to represent
expected results. Forecast amounts are
subjective. You can use forecast amounts to
measure project performance against
baseline and actual amounts.
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freight
lookup window
An amount paid to a carrier for transporting
goods.
functional currency
The primary currency in which a company
maintains its financial records. Typically, the
functional currency is the currency for the
country/region where the company is
located.
history
A record of transactions for previous and
current years.
inactive employee
An employee record that is unavailable to
use.
inventoried item
An item that quantities are tracked for.
overhead calculation method
A window that displays a list of accounts,
customers, jobs, or other items in the
accounting system. Lookup windows for a
specific field are displayed by choosing the
lookup button next to the field.
lot number
A number provided by the manufacturer
that can be used for tracking quantities of a
specific item (for example, a roll of carpet or
a roll of wire).
main segment
The segment of posting accounts that has
been designated as the sorting option for
accounts on financial statements. Typically,
the main segment is used to indicate whether
the account is an asset, liability, owners’
equity, revenue or expense account.
miscellaneous class
inventory
Goods produced or purchased to be used or
sold at a later time.
inventory transfer
A transaction to move items from inventory
to a project, or from a project to inventory.
invoice format
A framework that contains information for
the layout and content of a printed billing
invoice.
A group of miscellaneous records. You can
use miscellaneous classes to define
parameters for miscellaneous records within
the group.
A transaction that tracks the receipt of an
invoice from a vendor for items that have
been received or are expected to be received
from the vendor for a purchase order for a
project.
item
The name for a product or service. Items
include inventoried and non-inventoried
items.
item number
A number that identifies one type of
inventoried item. Inventoried items can be
used in transaction entry only if item
numbers have been assigned.
journal entry
A transaction recorded in a formalized
manner by entering an account and debit
and credit amounts.
labor list
See employee access list.
labor rate table
A generic term for an employee rate table or
position rate table.
An additional expense for a project that can’t
or shouldn’t be tracked using timesheets,
employee expense transactions, equipment
logs, inventory transfers, shipment receipts,
or shipment/invoice receipts.
A transaction to track additional expenses
for a project that can’t or shouldn’t be
tracked using timesheets, employee expense
transactions, equipment logs, inventory
transfers, shipment receipts, or shipment/
invoice receipts.
An item that quantities aren’t tracked for.
<NONE> cost category
Used to indicate that a line item on a
transaction is not to be tracked using a cost
category.
<NONE> project number
Used to indicate that a line item on a
transaction is not to be tracked for a specific
project.
A C C O U N T I N G
The foreign currency that a multicurrency
transaction was conducted in.
overhead
An indirect project cost, such as electricity,
administration, and insurance.
AD M I N I S T R A TO R ’ S
pay code
A code used to identify a specific type and
rate of pay.
pay rate
The amount an employee is paid for working
a period of time.
payment method
The form of payment. Examples include
check, cash, or credit card.
Conditions for payment that are extended to
customers and that vendors may extend to a
company.
periodic budget
A budget for estimating and tracking costs,
quantities, and billing amounts for a project
by fiscal period.
position code
A unique alphanumeric name used to
identify a defined role within an
organization.
A list of positions and the cost and profit for
whenever an employee works in a specific
position on a project.
posting
A procedure to make temporary transactions
a part of a business’s permanent records; to
update accounts by transaction amounts. In
manual accounting, posting transfers journal
entries to the proper accounts in a general
ledger.
posting account
originating currency
A single entry in a transaction that typically
includes an item, quantity, and cost.
P R O J E C T
A location on a computer or in a network
where files are created and stored.
position rate table
non-inventoried item
line item
56
path name
payment terms
miscellaneous expense
miscellaneous log
invoice receipt
A method of calculating overhead for
employees and vendors, and when entering
timesheets, employee expense transactions,
equipment logs, and miscellaneous logs.
Also determines how overhead is calculated
for projects, cost categories, and cost
categories in project budgets. Overhead
calculation methods include Amount per
Unit and Percentage of Actual Cost.
G U I D E
A financial account that tracks assets,
liabilities, revenue or expenses. These
accounts will appear on financial statements
and other reports.
posting date
The date that a transaction is recorded in
General Ledger.
G L O S S A R Y
pre-billing worksheet
A report that includes detailed information
and space to include comments about the
billing invoices that you plan to generate.
There are two types of pre-billing
worksheets: in-process worksheets that
include saved billing invoices; and billable
worksheets, which include all billing
invoices.
price level
Used to specify different prices for an item or
group of items, depending upon who it’s
being sold to. For example, you might charge
one price if you’re selling to a retail customer
and another price to a wholesale customer.
You don’t need to assign all price levels to all
units of measure; be sure that each unit of
measure can be used with every price level
at which you might want to sell it.
profit type
A method of calculating profit based on
project type. Profit types include % of
Actual, % of Baseline, Billing Rate, Markup
%, None, Price Level, Profit/Unit - Fixed,
Profit/Unit - Variable, and Total Profit.
progress billing
A method of billing customers for the
percentage of project completion, based on
either cost or quantity, for a Cost Plus or
Fixed Price project.
project
A task with a budget to complete a
deliverable for a contract.
project amount
The total cost for a project. The project
amount calculation depends on whether the
project is a Cost Plus, Fixed Price, or Time
and Materials project.
project budget
The planned revenue and expenses for a
project categorized by cost. You can include
various cost categories in the budget, and
then specify baseline and forecast amounts
for each cost category. You then can compare
actual costs to budgeted costs.
project budget totals
The baseline, forecast, and actual total
revenue and expense amounts for a project
and its various cost categories.
project class
A group of projects defined by parameters
within the group.
project manager
The person who leads a project team and is
responsible for completing projects and
meeting objectives using project
management.
project status
recurring batch
The progress of a project. Project statuses
include Closed, Completed, Estimate, On
Hold, Open, plus additional statuses that
you can name.
project template
A framework that contains information to
create a new project record.
A batch that will be posted repeatedly,
according to the selected frequency. An
example of a recurring batch would be one
to record monthly rent expense. In Australia
and New Zealand, transactions entered in a
recurring batch are referred to as standing
transactions.
reference document number
project type
A project classification used to determine
how project costs are calculated and how
customers are billed. Project types include
Cost Plus, Fixed Price, and Time and
Materials.
purchase order
A number that identifies a transaction that a
Referenced transaction has been posted for.
referenced transaction
A transaction used to correct the quantities
on a posted cost transaction.
report option
A document that authorizes you to purchase
items from vendors for projects.
purchase order format
A framework that contains information for
the layout and content of a printed purchase
order.
purchases/material
Refers collectively to purchase orders,
shipment receipts, shipment/invoice
receipts, invoice receipts, and inventory
transfers with non-inventoried items.
purchasing document
A purchase order that you enter to purchase
items from vendors for projects. General
ledger accounts and inventory quantities
aren’t updated when you enter a purchase
order, which is why it is referred to as a
document and not a transaction.
purchasing transaction
A transaction that you enter to track the
receipt of items and invoices from vendors
for purchase orders for projects. Purchasing
transactions include shipment receipts,
shipment/invoice receipts, and invoice
receipts.
rate table
A list of employees, equipment, or positions
used to calculate cost and profit for
whenever they are used for a project.
reconcile
A collection of entries that specify the
amount of information or the type of
information that appears on a report.
Multiple report options can be created.
reporting currency
A currency that is used to convert functional
currency amounts to another currency on
inquiries and reports. This calculation uses a
spot exchange rate entered when the inquiry
or report is generated.
return from project transaction
A transaction used to return items from
projects to vendors.
revenue
The income generated as the result of
activities related to a project or contract.
revenue recognition
A feature that allows you to recognize
revenue for Cost Plus and Fixed Price
projects. When you bill customers for these
projects, the billing amounts are not
recognized as revenue on Profit and Loss
Statements. Revenue recognition will update
the financial statement.
revenue recognition calculation
method
The method of determining revenue
amounts when recognizing revenue using
revenue recognition transactions.
revenue recognition cycle
A procedure that compares corresponding
data in different logical tables and removes
any “orphan” records. Reconciling also
verifies that information stored in two
different tables is the same, and if there are
discrepancies, changes the information in the
table being reconciled to match the
information in the table it’s being compared
to.
A record that identifies when and how often
to recognize revenue for contracts and
projects. Revenue recognition cycles can be
used to automatically generate revenue
recognition transactions.
revenue recognition transaction
A transaction used to recognize earnings
from projects as revenue for the company.
salary pay
A pay code that’s used for employees who
are paid a specific amount each pay period.
project number
salesperson
An alphanumeric name used to identify a
project.
A person who sells a company’s goods or
services.
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serial number
third-party customer
A number assigned to a specific inventory
item to identify it and differentiate it from
similar items with the same item number.
shipment receipt
third-party customer list
A transaction used to record merchandise
received from a vendor.
shipment/invoice receipt
A transaction used to record merchandise
received from a vendor, accompanied by an
invoice.
shipping method
A method of transportation for goods or
services. Default shipping methods are
provided with the accounting system and
can be modified for a specific business.
single-use batch
A batch that is created, posted once and then
automatically deleted from the system after
all transactions in the batch are posted.
site
A store, warehouse or other location from
which business or store items are sold.
standard transaction
A basic timesheet, employee expense
transaction, equipment log, or miscellaneous
log.
summary
The calculated total amounts for a
transaction.
SUTA
An acronym for “state unemployment tax.”
This is the state unemployment tax paid by
an employer to provide for payments of
unemployment compensation to workers
who have lost their jobs.
tax detail
A definition of a tax that may apply to sales
or purchases. Tax details are grouped into
tax schedules.
tax schedule
Groups of tax details that define each tax that
may apply to sales or purchases. When tax
schedules are assigned to vendors, the
applicable taxes will be calculated during
transaction entry.
A framework that contains information for
creating a new contract, project, or fee
record.
territory
A division of the regions in which a
company’s products are sold, often
separated from other divisions by
geographical location.
P R O J E C T
A list that you can use to bill a customer who
is the customer of the individual or business
that you are billing for a contract.
Time and Materials project
A C C O U N T I N G
timesheet
A transaction entered to track the cost of
time for an employee on a project.
total billings
The sum of the amounts billed for a contract
or project.
unit
A single quantity of an item.
The amount per unit that you paid for an
item you’re planning to sell or consume.
unit of measure
The quantities in which your business buys
or sells an item.
unit of measure schedule
A group of related named quantities.
user
A person working with software on a
computer; a computer operator.
user class
A group of users. You can use user classes to
define parameters for users within the
group.
user-defined field
total cost
The sum of the actual cost amounts incurred
for a contract or project.
A field that can be used to track information
specific to your company.
user-defined field label
total revenue
The sum of the revenue amounts recognized
for a contract or project.
trade discount
A discount given by a vendor or received by
a customer. The rate is calculated at the time
of a purchase or sale and is added to
payment term discounts that also may be
offered. Trade discounts only can be applied
to Time and Materials projects.
transaction
An event or condition that is recorded in
asset, liability, expense, revenue and/or
equity accounts.
transaction date
The date when a transaction occurred; not
necessarily the date that it was entered into
the system.
A record of transactions for a previous year
or a record of a fully applied transactions.
transaction owner
The type of record that a transaction is
entered for. For example, an employee is the
transaction owner for timesheets and
employee expense transactions.
AD M I N I S T R A TO R ’ S
Revenue that has been realized for Time and
Materials projects but hasn’t been billed, or
revenue that has been recognized for Cost
Plus and Fixed Price projects but hasn’t been
billed.
unit cost
A type of project in which the customer is
billed for project costs as they are incurred.
The amount that the customer is billed is
based on billing rates or markup percentages
for time and materials used for the project.
Time includes the time that employees spend
working on a project and for equipment
used for the project. Materials include
inventoried and non-inventoried items used
for the project.
transaction history
template
58
unbilled revenue
A customer who is the customer of an
individual or business that you are billing
for a contract.
G U I D E
The name for a user-defined field.
valuation method
The method by which you track the cost of
an item from the time you receive it until you
sell it. Different businesses and industries
typically use different valuation methods,
which are sometimes specified by law. In
most locations, strict legal limits are in place
concerning changing the valuation method
once you’ve begun using a particular one.
Valuation methods include FIFO Perpetual,
FIFO Periodic, LIFO Perpetual, LIFO
Periodic, and Average Perpetual.
vendor
A person or company providing goods or
services in return for payment.
vendor class
A group of vendors. You can use vendor
classes to define parameters for vendors
within the group.
WIP (Work In Progress)
The project costs that customers haven’t
been billed for.
workers’ compensation tax
Taxes paid by the employer for insurance
covering injuries incurred on the job.
Workers’ compensation is paid to the state
government.
G L O S S A R Y
write down
To arbitrarily reduce a calculated billing
amount on a billing invoice.
write up
To arbitrarily increase a calculated billing
amount on a billing invoice.
writeoff
A process used to adjust small differences
between an invoice amount and a payment
or an amount that a business chooses not to
pay on a vendor account. A writeoff is
deducted from the account total.
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A C C O U N T I N G
AD M I N I S T R A TO R ’ S
G U I D E
Index
A
Account Segment Overrides window
opening the window 16
specifying account segment numbers
for contracts 16
specifying account segment numbers
for projects 17
accounting methods 27
Completed 27
Cost-to-Cost 27
Effort-Expended 27
Effort-Expended Labor Only 27
When Billed 27
When Performed 27
adjusting transactions
reversing and correcting employee
expense transaction line items 46
reversing and correcting equipment
log line items 46
reversing and correcting
miscellaneous log line items 46
reversing and correcting timesheet
line items 46
reversing employee expense
transaction line items 45
reversing equipment log line items 45
reversing miscellaneous log line
items 45
reversing timesheet line items 45
Aged Work-In-Progress Budget report 40
Aged Work-In-Progress Contract report 40
Aged Work-In-Progress List report 40
Aged Work-In-Progress Project report 40
Annual Employee Utilization report 40
Annual Utilization - Department report 40
Annual Utilization - Position report 40
B
batches
automatic revenue recognition
transaction batches 28
billing returns 19
employee expense transactions 19
equipment logs 19
inventory transfers 19
manual billing invoice batches 19
manual revenue recognition
transaction batches 19
miscellaneous logs 19
posting multiple batches 21
returning items from projects to
vendors 19
reviewing transactions 20
timesheets 19
Billing Batch Entry window
creating batches for billing returns 19
manually creating batches for billing
invoices 19
Billing Batch Entry window (continued)
opening the window 19
reviewing batches of billing invoices
20
reviewing batches of billing returns
20
billing invoices
clearing paid invoices from lookup
windows 51
deleting posted billing invoices 50
Invoice Register report 40
manual batches 19
modifying posting account
distributions 20
posting accounts for fees 13
billing returns
batches 19
modifying posting account
distributions 20
Billing Transaction Entry Distribution
window
modifying posting account
distributions for billing invoices 20
modifying posting account
distributions for billing returns 20
opening the window 20
Budget Accounts window
opening the window 12
specifying posting account numbers
for cost categories in project
budgets 12
C
Cash Budget report 40
Change Order Estimate report 40
Change Order History report 40
Change Order report 40
change orders, reports 40
changes since last release, information
about 4
checkbooks
customer payments for billing
invoices 19
customer payments for billing returns
19
Closed contract status
Contracts Completed report 40
deleting contracts 49
Completed accounting method 27
Completed cost category status,
recognizing revenue 27
Completed project status, recognizing
revenue 27
Contract Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for contracts 13
Contract Accounts window
opening the window 10
specifying posting accounts for
contracts 10
PROJECT
ACCOUNTING
Contract Class Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for contract classes 13
Contract Class Accounts window
opening the window 10
specifying posting accounts for
contract classes 10
contract classes
posting accounts for cost transactions
10
posting accounts for fees 13
contract statuses
Closed, Contracts Completed report
40
Contracts Completed report 40
contracts
account segment numbers 16
Aged Work-In-Progress Contract
report 40
averaging revenue from projects 28
Cash Budget report 40
Change Order Estimate report 40
Change Order History report 40
Change Order report 40
Contracts Completed report 40
Contracts in Progress - Customer
report 40
Contracts in Progress report 40
deleting 49
Earnings from Contracts report 40
performance reports 40
posting accounts for cost transactions
10
posting accounts for fees 13
recalculating totals by fiscal period 51
recognizing revenue 29
Retention - Customer report 40
Retention - Project report 40
revenue recognition cycles 28
Contracts Completed report 40
Contracts in Progress - Customer report 40
Contracts in Progress report 40
cost categories
accounting methods for recognizing
revenue 27
Aged Work-In-Progress Budget
report 40
averaging revenue from cost
categories in projects 28
posting accounts for cost transactions
10
Projects in Progress - Cost Category
report 40
recalculating project budget totals by
fiscal period 51
recognizing revenue 31
specifying default posting account
numbers for budgets 11
specifying posting account numbers
for budgets 12
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CONTROL
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61
IN DEX
Cost Category Accounts window
opening the window 10
specifying posting accounts for cost
categories 10
Cost Category Class Accounts window
opening the window 10
specifying posting accounts for cost
category classes 10
cost category classes, posting accounts for
cost transactions 10
Cost Plus projects
accounting methods for recognizing
revenue 27
averaging revenue 28
default posting account numbers for
fees assigned to projects 14
posting account numbers for fees
assigned to projects 15
Pre-Billing Worksheet report 40
recognizing revenue 29
specifying default posting account
numbers for cost categories in
budgets 11
specifying posting account numbers
for cost categories in budgets 12
work in progress 9
Cost-to-Cost accounting method 27
currencies, billing reports 40
current installation instructions, accessing
on the Web 4
current upgrade information, accessing on
the Web 4
Customer Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for customer records 13
Customer Accounts window
opening the window 10
specifying posting accounts for
customer records 10
Customer Class Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for customer classes 13
Customer Class Accounts window
opening the window 10
specifying posting accounts for
customer classes 10
customer classes
posting accounts for cost transactions
10
posting accounts for fees 13
customers
Aged Work-In-Progress List report 40
Analysis reports 40
batches for billing returns 19
billing reports 40
Cash Budget report 40
checkbooks for payments for billing
invoices 19
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P R O J E C T
A C C O U N T I N G
customers (continued)
checkbooks for payments for billing
returns 19
Contracts in Progress - Customer
report 40
Fee List - Project report 40
manual billing invoice batches 19
performance reports 40
posting accounts for cost transactions
10
posting accounts for fees 13
Projects in Progress - Customer report
40
recalculating totals by fiscal period 51
recognizing revenue 29
Retention - Customer report 40
revenue recognition cycles 28
statements 40
D
documentation
accessing on the Web 4
symbols and conventions 3
E
Earned Value Analysis report 40
Earnings from Contracts report 40
Effort-Expended accounting method 27
Effort-Expended Labor Only accounting
method 27
Employee Accounts window
opening the window 10
specifying posting accounts for
employee records 10
specifying posting accounts for
employee records for Canadian
Payroll 10
Employee Class Accounts window
opening the window 10
specifying posting accounts for
employee classes 10
specifying posting accounts for
employee classes for Canadian
Payroll 10
employee classes
posting accounts for Canadian
Payroll 10
posting accounts for cost transactions
10
Employee Expense Adjustment Entry
window
opening the window 45
reversing and correcting employee
expense transaction line items 46
reversing employee expense
transaction line items 45
Employee Expense Batch Entry window
creating batches for employee
expense transactions 19
opening the window 19
AC C O U N T I N G
C O N T R O L
Employee Expense Batch Entry window
(continued)
reviewing batches of employee
expense transactions 20
Employee Expense Distribution Entry
window
modifying posting account
distributions for employee expense
transactions 20
opening the window 20
employee expense transactions
batches 19
default posting account numbers for
cost categories 11
deleting posted employee expense
transactions 49
modifying posting account
distributions 20
posting account numbers for cost
categories 12
reversing and correcting line items 46
reversing line items 45
employees
Annual Employee Utilization report
40
Annual Utilization - Department
report 40
Annual Utilization - Position report
40
batches for employee expense
transactions 19
batches for timesheets 19
deleting posted employee expense
transactions 49
deleting posted timesheets 49
employee utilization reports 40
Monthly Employee Utilization report
40
Monthly Utilization - Department
report 40
Monthly Utilization - Position report
40
posting accounts for Canadian
Payroll 10
posting accounts for employee
records 10
YTD Employee Utilization report 40
YTD Utilization - Department report
40
YTD Utilization - Position report 40
equipment
batches for equipment logs 19
deleting posted equipment logs 49
posting accounts for cost transactions
10
Equipment Accounts window
opening the window 10
specifying posting accounts for
equipment records 10
Equipment Adjustment Entry window
opening the window 45
G U I D E
I N D E X
Equipment Adjustment Entry window
(continued)
reversing and correcting equipment
log line items 46
reversing equipment log line items 45
Equipment Class Accounts window
opening the window 10
specifying posting accounts for
equipment classes 10
equipment classes, posting accounts for
cost transactions 10
Equipment Log Batch Entry window
creating batches for equipment logs
19
opening the window 19
reviewing batches of equipment logs
20
Equipment Log Distribution window
modifying posting account
distributions for equipment logs 20
opening the window 20
equipment logs
batches 19
default posting account numbers for
cost categories 11
deleting posted equipment logs 49
modifying posting account
distributions 20
posting account numbers for cost
categories 12
reversing and correcting line items 46
reversing line items 45
F
Fee Accounts window, specifying default
posting accounts for fees 13
Fee List - Project report 40
fees
default posting account numbers for
fees assigned to projects 14
Fee List report 40
posting account numbers for fees
assigned to projects 15
posting accounts 13
recognizing revenue for Project fees
32
recognizing revenue for Service fees
32
file formats, reports 40
Fixed Price projects
accounting methods for recognizing
revenue 27
averaging revenue 28
default posting account numbers for
fees assigned to projects 14
posting account numbers for fees
assigned to projects 15
Pre-Billing Worksheet report 40
recognizing revenue 29
Fixed Price projects (continued)
specifying default posting account
numbers for cost categories in
budgets 11
specifying posting account numbers
for cost categories in budgets 12
work in progress 9
H
help, displaying 4
Help menu, described 3
history
Change Order History report 40
deleting contracts 49
deleting posted billing invoices 50
deleting posted billing returns 50
deleting posted cost transactions 49
I
icons, used in manual 3
installation instructions, accessing on the
Web 4
Inventory Transfer Batch Entry window
creating batches for inventory
transfers 19
opening the window 19
reviewing batches of inventory
transfers 20
Inventory Transfer Distribution window
modifying posting account
distributions for inventory
transfers 20
opening the window 20
inventory transfers
batches 19
default posting account numbers for
cost categories 11
deleting posted inventory transfers 49
modifying posting account
distributions 20
posting account numbers for cost
categories 12
invoice receipts
default posting account numbers for
cost categories 11
posting account numbers for cost
categories 12
Invoice Register report 40
items
batches for inventory transfers 19
deleting posted inventory transfers 49
L
lessons, accessing 4
lookup window, displaying 4
Miscellaneous Accounts window
(continued)
specifying posting accounts for
miscellaneous records 10
Miscellaneous Adjustment Entry window
opening the window 45
reversing and correcting
miscellaneous log line items 46
reversing miscellaneous log line
items 45
Miscellaneous Class Accounts window
opening the window 10
specifying posting accounts for
miscellaneous classes 10
miscellaneous classes, posting accounts
for cost transactions 10
Miscellaneous Log Batch Entry window
creating batches for miscellaneous
logs 19
opening the window 19
reviewing batches of miscellaneous
logs 20
Miscellaneous Log Distribution Entry
window
modifying posting account
distributions for miscellaneous
logs 20
opening the window 20
miscellaneous logs
batches 19
default posting account numbers for
cost categories 11
deleting posted miscellaneous logs 49
modifying posting account
distributions 20
posting account numbers for cost
categories 12
reversing and correcting line items 46
reversing line items 45
miscellaneous records
batches for miscellaneous logs 19
deleting posted miscellaneous logs 49
posting accounts for cost transactions
10
Monthly Employee Utilization report 40
Monthly Utilization - Department report
40
Monthly Utilization - Position report 40
N
navigation, symbols used for 3
Net Write-downs report 40
new features, information about 4
O
M
Orientation training, accessing 4
Mass Contract Delete window
deleting Closed contracts 49
opening the window 49
Miscellaneous Accounts window
opening the window 10
P
PROJECT
ACCOUNTING
PA Detailed Trial Balance report 40
PA Summary Trial Balance report 40
PA Trial Balance Worksheet report 40
ACCOUNTING
CONTROL
GUIDE
63
IN DEX
Paid Transaction Removal window
clearing paid billing invoices from
lookup windows 51
opening the window 51
Personal Data Keeper, posting batches 21
position codes
Annual Utilization-Position report 40
employee utilization reports 40
Monthly Utilization-Position report
40
YTD Utilization-Position report 40
posting account numbers, accounts for
cost categories in project budgets 12
posting accounts
account segment numbers for
contracts 16
account segment numbers for
projects 17
chart of accounts 9
contract classes for cost transactions
10
contracts for cost transactions 10
cost categories for cost transactions 10
cost category classes for cost
transactions 10
customer classes for cost transactions
10
customer records for cost transactions
10
default account numbers for cost
categories in project budgets 11
default accounts for fees 13
default posting account numbers for
fees assigned to projects 14
employee classes for Canadian
Payroll for cost transactions 10
employee classes for cost transactions
10
employee records for Canadian
Payroll for cost transactions 10
employee records for cost
transactions 10
equipment classes for cost
transactions 10
equipment for cost transactions 10
miscellaneous classes for cost
transactions 10
miscellaneous for cost transactions 10
posting account numbers for fees
assigned to projects 15
project classes for cost transactions 10
projects for cost transactions 10
vendor classes for cost transactions 10
vendor records for cost transactions
10
work in progress 9
Pre-Billing Worksheet - CP/FP report 40
Pre-Billing Worksheet - TM report 40
product documentation, accessing on the
Web 4
64
P R O J E C T
A C C O U N T I N G
Project Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for projects 13
Project Accounts window
opening the window 10
specifying posting accounts for
projects 10
Project Class Accounts - Fee window
opening the window 13
specifying posting accounts for fees
for project classes 13
Project Class Accounts window
opening the window 10
specifying posting accounts for
project classes 10
project classes
posting accounts for cost transactions
10
posting accounts for fees 13
Project fees, recognizing revenue 32
Project Series Posting window
opening the window 21
posting multiple batches at once 21
Project Setup Cost Budget Accounts
window
opening the window 11
specifying default posting account
numbers for cost categories in
project budgets 11
Project Setup Fee Accounts window
opening the window 14, 15
specifying default posting account
numbers for fees assigned to
projects 14
specifying posting account numbers
for fees assigned to projects 15
projects
account segment numbers 17
accounting methods for recognizing
revenue 27
Aged Work-In-Progress Budget
report 40
Aged Work-In-Progress Project report
40
analysis reports 40
averaging revenue from cost
categories 28
averaging revenue from projects in
contracts 28
billing reports 40
Cash Budget report 40
Change Order Estimate report 40
Change Order History report 40
Change Order report 40
deleting budget totals that aren’t
within fiscal years 52
Earned Value Analysis report 40
Fee List - Project report 40
performance reports 40
AC C O U N T I N G
C O N T R O L
projects (continued)
posting accounts for cost transactions
10
posting accounts for fees 13
Pre-Billing Worksheet - CP/FP report
40
Pre-Billing Worksheet - TM report 40
Pre-Billing Worksheet report for Cost
Plus projects 40
Pre-Billing Worksheet report for
Fixed Price projects 40
Projects in Progress - Cost Category
report 40
Projects in Progress - Customer report
40
recalculating budget totals by fiscal
period 51
recalculating totals by fiscal period 51
recognizing revenue 29
recognizing revenue for Cost Plus
projects 32
recognizing revenue for Fixed Price
projects 32
revenue recognition cycle records 25
revenue recognition cycles 28
specifying default posting account
numbers for cost categories in
budgets 11
specifying posting account numbers
for cost categories in budgets 12
work in progress 9
Work In Progress report 40
Projects in Progress - Cost Category report
40
Projects in Progress - Customer report 40
R
Recreate Periodic window
deleting project budget totals that
aren’t within fiscal years 52
opening the window 51
recalculating project budget totals by
fiscal period 51
Remove Billing History window
deleting posted billing invoices and
returns 50
opening the window 50
Remove Cost History window
deleting posted cost transactions 49
opening the window 49
report groups, creating 39
report options, creating 37
reports
Aged Work-In-Progress Budget
report 40
Aged Work-In-Progress Contract
report 40
Aged Work-In-Progress List report 40
Aged Work-In-Progress Project report
40
analysis reports 40
G U I D E
I N D E X
reports (continued)
Annual Employee Utilization report
40
Annual Utilization - Department
report 40
Annual Utilization - Position report
40
billing reports 40
Cash Budget report 40
Change Order Estimate report 40
Change Order History report 40
Change Order report 40
change order reports 40
Contracts Completed report 40
Contracts in Progress - Customer
report 40
Contracts in Progress report 40
creating groups 39
Earned Value Analysis report 40
Earnings from Contracts report 40
e-mailing with MAPI 39
employee utilization reports 40
Fee List - Project report 40
file formats 40
Invoice Register report 40
Monthly Employee Utilization report
40
Monthly Utilization - Department
report 40
Monthly Utilization - Position report
40
Net Write-downs report 40
options 37
PA Detailed Trial Balance report 40
PA Summary Trial Balance report 40
PA Trial Balance Worksheet report 40
performance reports 40
Pre-Billing Worksheet - CP/FP report
40
Pre-Billing Worksheet - TM report 40
printing destinations 39
Projects in Progress - Cost Category
report 40
Projects in Progress - Customer report
40
Retention - Customer report 40
Retention - Project report 40
Statement report 40
Work in Progress report 40
YTD Employee Utilization report 40
YTD Utilization - Department report
40
YTD Utilization - Position report 40
required fields, described 4
resources, documentation 3
Retention - Customer report 40
Retention - Project report 40
Return From Project Batch Entry window
creating batches to return items from
projects to vendors 19
opening the window 19
Return From Project Batch Entry window
(continued)
reviewing batches of return from
project transactions 20
return from project transactions,
modifying posting account
distributions 20
Returns From Project Distribution
window
modifying posting account
distributions for return from
project transactions 20
opening the window 20
revenue, accounting methods for
recognizing revenue 27
Revenue Recognition Batch Entry
window
manually creating batches for
revenue recognition transactions 19
opening the window 19
reviewing batches of revenue
recognition transactions 20
revenue recognition calculation methods
28
revenue recognition cycles
creating records 25
generating revenue recognition
transactions 28
Revenue Recognition Enter per Budget
Item window, opening the window 31
Revenue Recognition Entry Distribution
window
modifying posting account
distributions for revenue
recognition transactions 20
opening the window 20
Revenue Recognition Entry per Budget
Item window, specifying revenue to
recognize for cost categories in project
budgets 31
Revenue Recognition Entry per Fee Item
window
opening the window 32
specifying revenue to recognize for
fees 32
Revenue Recognition Entry window
opening the window 29
recognizing revenue 29
Revenue Recognition Setup Options
window
granting revenue recognition
transaction entry permissions 25
opening the window 25
revenue recognition transactions, data
entry permissions 25
RR Cycle Batch Processing window
opening the window 28
using revenue recognition cycles to
generate transactions 28
PROJECT
ACCOUNTING
RR Cycle Maintenance window
creating revenue recognition cycle
records 25
opening the window 25
S
Select Equipment for Adjustment window
opening the window 45
reversing and correcting equipment
log line items 46
reversing equipment log line items 45
Select Expenses for Adjustment window
opening the window 45
reversing and correcting employee
expense transaction line items 46
reversing employee expense
transaction line items 45
Select Miscellaneous for Adjustment
window
opening the window 45
reversing and correcting
miscellaneous log line items 46
reversing miscellaneous log line
items 45
Select Timesheets for Adjustment window
opening the window 45
reversing and correcting timesheet
line items 46
reversing timesheet line items 45
Service fees, recognizing revenue 32
shipment receipts
default posting account numbers for
cost categories 11
posting account numbers for cost
categories 12
shipment/invoice receipts
default posting account numbers for
cost categories 11
posting account numbers for cost
categories 12
Statement report 40
symbols, used in manual 3
system requirements, accessing on the
Web 4
T
Time and Expense, posting batches 21
Time and Materials projects
accounting methods for recognizing
revenue 27
default posting account numbers for
fees assigned to projects 14
posting account numbers for fees
assigned to projects 15
recognizing revenue for Service fees
32
specifying default posting account
numbers for cost categories in
budgets 11
specifying posting account numbers
for cost categories in budgets 12
ACCOUNTING
CONTROL
GUIDE
65
IN DEX
Time and Materials projects (continued)
work in progress 9
Timesheet Adjustment Entry window
opening the window 45
reversing and correcting timesheet
line items 46
reversing timesheet line items 45
Timesheet Batch Entry window
creating batches for timesheets 19
opening the window 19
reviewing batches of timesheets 20
Timesheet Distribution Entry window
modifying posting account
distributions for timesheets 20
opening the window 20
timesheets
batches 19
default posting account numbers for
cost categories 11
deleting posted timesheets 49
modifying posting account
distributions 20
posting account numbers for cost
categories 12
reversing and correcting line items 46
reversing line items 45
tutorial, accessing 4
U
upgrade information, accessing on the
Web 4
V
Vendor Accounts window
opening the window 10
specifying posting accounts for
vendor records 10
Vendor Class Accounts window
opening the window 10
specifying posting accounts for
vendor classes 10
vendor classes, posting accounts for cost
transactions 10
vendors, posting accounts for cost
transactions 10
W
what’s new, accessing 4
When Billed accounting method 27
When Performed accounting method 27
Work In Progress posting account,
overview 9
Work in Progress report 40
Y
YTD Employee Utilization report 40
YTD Utilization - Department report 40
YTD Utilization - Position report 40
66
P R O J E C T
A C C O U N T I N G
AC C O U N T I N G
C O N T R O L
G U I D E