Retrieving Used and Actual Costs to Project—Exercises

Required Data

Creating Inventory Transactions

Purpose: The purpose of this exercise is to familiarize you with the data that must be in place before you can perform the exercises below.

1. Case 1: Create inventory transactions by purchasing inventory parts to an activity in your project. Complete the purchasing process until the purchased parts have been received into project inventory. (For example, purchase part number 96-2000 to activity 20020 and receive into project inventory.)
2. Case 2: Create further inventory transactions by issuing some of these purchased inventory parts from the project inventory. (Issue the received part 96-2000 to activity 20020.)
3. Case 3: Create inventory transactions also by issuing standard material directly to an activity, without going through the purchasing process. (Issue part 96-1000 directly from standard inventory to activity 20010.)

Note: This exercise refers to the following examples:

General exercise for Purchasing Project Miscellaneous Demand and Issuing Material From Inventory

Main Exercise

Purpose: The purpose of this exercise is to show you how to retrieve used and actual costs to your project.

Windows:
Inventory Transactions History
Transfer Inventory Transactions
Project Navigator/Activity
Project Navigator/Connections
Update GL Vouchers

Retrieving Used and Actual Costs from Inventory Transactions

1. Open the Inventory Transactions History window.
2. Query for your site and for your part numbers, both the part procured through purchasing (96-2000) and the part directly issued to your project activity from standard inventory (96-1000).
3. Select the rows, right-click and then click Inventory Transaction History.
4. Click the General tab and view each transaction.
5. Note which transaction codes are associated with each case, as performed in the required data section of this exercise. (See the table below for the data you should expect to see.)
6. Click the Accounting tab.
7. Note the inventory transaction values for each transaction. Verify which posting types are posted with the project ID and activity sequence number. (See the table below for the data you should expect to see.)

Note: The postings should have the status code 2 (Completed). If a posting has received the status 99 (Incorrect accountings), some Posting Control basic data has been incorrectly set up in IFS Accounting Rules.

8. Open the Project Navigator window and query for your project.
9. In the Navigator, select the activity on which you procured the part through purchasing and then issued some from the project inventory.
10. Click the Activity tab. On the Cost tab, note that the values in the Used column are updated, based on the inventory transaction value from the ARRIVAL transaction. Note that issuing from project inventory does not result in further used costs. Verify that the values update the correct cost elements, based on how you set up the relevant posting control rule and cost element mappings.
11. In the Navigator, select the activity on which you issued directly from standard inventory.
12. On the Cost tab, note that the values in the Used column are updated, based on the inventory transaction value from its PROJISS transaction. Verify that the values update the correct cost elements, based on how you set up the relevant posting control rule and cost element mappings.
13. Open the Transfer Inventory Transactions window.
14. If your project site is not shown by default, select it from the List of Values.
15. Click OK to transfer the inventory transactions to the financial system.

Note: This is a background job that must be completed before you can continue.

16. Return to the Inventory Transactions History window. Query for your site and part numbers once again. 
17. Select the rows, right-click and then click Inventory Transaction History.
18. View each transaction. Click the Accounting tab and note that a voucher number has been connected to the transactions.
19. In the Project Navigator window, click the Activity tab. View each activity and note that values in the Used column have not changed.
20. Click the Connections tab. Observe that the associated hold table voucher rows are listed, and that they are updating the values for Used Cost.
21. Open the Update GL Vouchers window.
22. Verify that the window specifies the company with which you are working, i.e., Company 10.
23. On the Selection tab, click Select Vouchers.
24. Select the relevant vouchers, i.e., the MPL vouchers as shown on the inventory transactions in step 18. Click OK.
25. A message appears informing you which journal number has been created. Click OK.
26. Return to the Project Navigator window.
27. In the Navigator, select each activity to view the values in the Actual column. On the Cost and Hours tabs, note that the values in the Actual column are updated. Verify that the values update the correct cost elements, based on how you set up the relevant posting control rule and cost element mappings.
28. Click the Connections tab. Observe that the hold table voucher rows have been replaced by General Ledger voucher rows, and that they are updating the values for both Used Cost and Actual Cost.

 Note: The following is a summary of what you should see for each case:

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