Enter Project Type for Project Group/All Ledgers

Explanation

Use this activity to enter information for a project group in the All Ledgers tab. 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. The All Ledgers tab will be enabled in any of the following two settings

  1. Capitalization Posting Method is set to Transaction
  2. Capitalization Posting Method is set to Periodical and Separate GL/IL Rules is not 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

For capitalization posting method Transaction, use the following steps:

  1. Create a new record in the Project Groups window.
  2. Enter an ID in the Project Group field and a corresponding description in the field to the right.
  3. Enter the project series ID to enable automatic allotment of project IDs. This value is required if the project is to be created from IFS/Customer Orders.
  4. Set Capitalization Posting Method to Transaction by selecting it from the drop down list.
  5. Save your changes.
  6. In the All Ledgers tab, in the Project Information sub tab, select the project type from the Project Type list.
  7. Select the desired method in the Revenue Recognition Method list.
  8. If your revenue recognition method is either POC Income First or POC Revenue First, enter data in the Revenue Recognition Information tab.
  9. Save your changes.
  10. For project types Capitalize Exp and Capitalize Rev/Exp, you can enter one or more reposting rules in the lower portion of the window. When doing so, create a new record. the total of Distribution Percentages of all reposting rules must be equal to 100%.
  11. Save your changes.

 

For capitalization posting method Periodical and Separate GL/IL Rules is not selected, use the following steps:

  1. Create a new record.
  2. Enter an ID in the Project Group field and a corresponding description in the field to the right.
  3. Enter the project series ID to enable automatic allotment of project IDs. This value is required if the project is to be created from IFS/Customer Orders.
  4. Set Capitalization Posting Method to Periodical by selecting it from the drop down list.
  5. Leave the checkbox Separate GL/IL Rules cleared.
  6. Save your changes.
  7. In the All Ledgers tab, in the Project Information sub tab, select the project type from the Project Type list.
  8. Select the desired method in the Revenue Recognition Method list.
  9. If your revenue recognition method is either POC Income First or POC Revenue First, enter data in the Revenue Recognition Information tab.
  10. Save your changes.
  11. For project types Capitalize Exp and Capitalize Rev/Exp, you can enter one or more reposting rules in the lower part of the window. When doing so, create a new record. The total of Distribution Percentages of all reposting rules must be equal to 100%.
  12. Save your changes.

 

For the Project Origin Job, continue with the following steps:

  1. For projects with the project origin Job, you can enter information in the Job Information tab. Click the Job Information tab.
  2. Enter the user group and voucher type that will be used at project completion.
  3. Select the Close at Final Invoicing checkbox if the job should be closed automatically after final invoicing.
  4. Enter the User Group and Voucher Type.
  5. Select the Default Project Group for Jobs checkbox. 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)
  6. Save your changes.