Exact Globe+

Year-end procedures Project

Introduction

This document describes the steps that should be taken for the year-end procedure for E-Project.

Explanation

1 - Process purchase invoices

This step is only applicable when the setting 'Allow: Purchase invoice' in the 'Invoice lines' section of the project settings is enabled. When the setting is disabled you can skip this step and continue with step 2.

With this setting you allow a sales invoice to be generated for a purchase invoice through the invoice proposal application. To make sure a purchase invoice is included in the invoice proposal the purchase invoice must be processed. Processing purchase invoices van be done via menu [Finance, Entries, Process].

Select the purchase journals and a date range. Make sure to select all purchase invoices up to and including the last day of the entry year. To process the invoices click the 'Process' button.

For more information, see Processing journal entries.

2 - Authorize project realizations

The next step is authorizing all project realizations of last year.

This can be done via menu [Projects, Entries, Authorise]. For more information, see Overview of Realizations and Purchase Journal Entries to be Authorized.

Keep in mind:

• When multiple people are responsible for authorizing project realizations all these persons have to authorize the project realizations for which they are responsible.
• When you check the option 'Include: Previous(Weeks)' this will only go back to week 1 of the selected year. Therefore, you should always check per year if there is anything to authorize.

3 - Generate invoices

The next step is generating invoices.

For this you open the invoice proposal in menu [Projects, Entries, Invoice proposal]. For more information, see Generating Invoice Proposals.

Keep in mind that when the setting 'Allow: Purchase invoice' in the 'Invoice lines' section of the project settings is enabled (see step 1), you have to indicate at 'Entry type' to include the processed purchase invoices in the invoice proposal.

4 - Process invoices

After the invoices have been generated these have to be processed. This can be done via [Invoice, Entries, Print / Process]. Select the invoices that are generated in step 3 and process these. For more information see Printing and processing invoices.

5 - Complete projects and release work in progress

The next step is completing the projects that can be completed. You can also release the work in progress.

Completing projects can be done via the 'Complete' button in menu [Projects, Projects, Maintain projects]. You can also select multiple projects to complete them at the same time.

When completing a project a date can be entered. This will be the completion date of the project. When work in progress is available the message "Complete: Release work in progress entries" will be displayed. In this message you have the following options:

• Yes - The work in progress of this project will be released on the date that is entered. Also, the status of the project will be changed to 'Completed'.
• No - No work in progress will be released. You'll have to release it later via [Projects, Projects, Work in progress]. The status of the project will be changed to 'Completed'.
• Cancel - The completion process will be cancelled. No work in progress will be released and the status of the project will not change.

You can also use the 'Auto complete' button to complete the projects. For more information, see Auto Completing Projects.

6 - Generate work in progress

The next step is generating work in progress for the active projects.

This can be done via [Projects, Projects, Work in progress]. For more information, see Generating Overview of Work in Progress of Projects

Related document

• Year-end procedures in Exact Globe Next