Enter Project Group for Separate GL/IL Rules
Explanation
Use this activity to enter information for a project group
in the General Ledger and Internal Ledger tabs.
The term project group can be used in more than one way. For example, it
can be used for groups of projects of the same type and projects that must use
the same reposting rules in each ledger. You can also use the project
group as a control type in the posting control. Applicable information entered
for the project group will be used as default
values when
new projects are created, based on a project group.
Prerequisites
The Project Accounting code part function must have been specified for one code
part in the Define Code String window. To be able to enter project series, these must have been specified in
the Project
Series window. General Ledger
and Internal Ledger tabs will be
enabled only when Capitalization Posting Method is set to Periodical and
Separate GL/IL Rules is selected.
System Effects
As a result of this activity, you can enter information for a specified
project and connect it to the project group. All
applicable information will
be used as default values when new
projects are created.
Window
Project Groups
Related Window Descriptions
Project Groups
Procedure
- Create a new record in the Project Groups window.
- Enter an ID in the Project Group field and a corresponding description
in the field to the right.
- Set
Capitalization Posting Method to Periodical by selecting it from the drop
down list.
- Select the check
box Separate GL/IL Rules.
- Save your changes.
This will enable the General Ledger and Internal Ledger tabs.
Enter Information in
the
General Ledger tab:
- Create a new record on the
Project Information
sub tab
of the General Ledger tab.
- Select a project type from
the Project Type list.
- Select Revenue
Recognition Method from the list.
- If your revenue
recognition method is either POC Income First or POC Revenue First,
enter data in the Revenue Recognition Information tab .
- Save your changes.
Enter information in the Internal Ledger tab:
- Create a new record on the
Project Information
sub tab
of the Internal Ledger tab.
- Select a project type from
the Project Type list.
- Select Revenue
Recognition Method from the list.
- If your revenue
recognition method is either POC Income First or POC Revenue First,
enter data in the Revenue Recognition Information tab.
- Save your changes.
For the project group created for projects with Project Origin Job, continue with the following steps:
- Select the Default Project Group for Jobs checkbox in the
Job Information
group box. This is
mandatory if the project is to be created from IFS/Customer Orders. (This
will only be allowed for project groups with Capitalization Posting Method
Transaction)
- Select the Close Project on Final Invoicing checkbox in the
Job Information
group box if the job should
be closed automatically after final invoicing.
- Click the
Job Information
tab in each ledger.
- Enter the User Group and Voucher Type that will be used at
project completion.
- Enter the Contribution Margin if the project type is Capitalize Exp.
- Save your changes.