System ➔ General ➔ Settings ➔ Project settings
Exact Globe Next provides the flexibility for you to set your preferred settings to manage your project administration. In this screen, you can define your preferred settings for project management. This includes project entries, resource planning, description definition for invoice lines, work in progress (WIP) method, and others.
The information in this document is applicable to product update 407 and higher. If you have versions lower than this, certain features explained here will not be applicable.
Keep in mind: All fields with the “!” icon are mandatory.
Type or select the profit & loss general ledger account used in recording work in progress (WIP) entries.
Type or select the balance sheet general ledger account used in recording WIP entries.
Type or select the balance sheet general ledger account to be used in recording work in progress (WIP) entries.
Note: You can only select balance sheet accounts of neutral type and accounts that are not defined for the cost of goods sold (COGS) general ledger accounts of items and item groups.
Type or select the profit & loss general ledger account to be used in recording work in progress (WIP) entries.
Note: You can only select profit & loss accounts and accounts that are not defined for the COGS general ledger accounts of items and item groups.
Note: You can only select define profit & loss accounts and accounts that are not defined for the COGS general ledger accounts of items and item groups.
Select this check box to use the normal resource planning function in the administration. With this setting activated, you can plan a project for your employees or the phantom resource, which has a default resource ID of -3. If this is not selected, all planning will be automatically assigned to the phantom resource. Only the phantom resource is able to perform the planned hour realizations. However, for extra work, you can still use your employees as well as the phantom resource.
This is the default setting to enable the phantom resource to perform unlimited labor hour planning and realization in project and manufacturing.
Select one of the following options for description in the invoice line. This setting determines which description is to be used in the invoice generated from project realizations (invoice proposal). There are three options which include:
Select the Allow: Purchase invoice check box to allow a sales invoice to be generated for a purchase invoice through the invoice proposal application.
Note: This function is applicable only for Time & Material and Fixed projects.
Select the default WIP method to be used when a new project is created. There are five available options which include Percentage of completion cost recognition, Percentage of completion revenue recognition, Completed contract method, Cost of sales method, No: WIP, To be invoiced, Percentage of completion cost recognition (budget), Percentage of completion revenue recognition (budget), WIP cost and revenue transfer, and WIP cost and revenue. Based on the selected method, the WIP will be calculated.
Note: The WIP methods of Percentage of completion cost recognition (budget) and Percentage of completion revenue recognition (budget) will only be available for selection if you have the E-Budget module.
Click this to view all the information of the changes you have made in the settings.
Click this to save all the changes you have made in Project settings.
Click this to exit.