Maintain: Project group
[Project: Master data, Maintenance, General, Project groups]
Project group
Enter a unique code and description for the project group that you want to create.
General tab
Journalizing level
You can indicate how you want to journalize the resulting journal entries of a project for the project group. There are two options available:
- {Cost category} - the journal entries will be journalized based on the journalizing codes that are linked to the cost category of project entries.
- {Project group} - the journal entries will be journalized based on the journalizing codes that have been defined in project group.
Currency
Enter the currency in which the rates are shown.
Internal rate
Enter the internal rate for the project group that you are creating.
External rate
Enter the external rate for the project group that you are creating.
Budgetting method
You can indicate how you want to create budgets per project group. There are two options available:
- {Top-down} - the grand total amount of budget is defined at a higher level entity, for example, cost category and it will then determine how much budget that can be allocated to the lower level entities, e.g., project employee, machinery or item that linked to the cost category.
- {Bottom-up} - the grand total amount of budget is determined from the costs incurred in each of its entities.
Select cost center employee
You can indicate which cost center is selected as default when making employee (hour) entries for projects in the project group. The selected cost center will be used for budgeting and journalizing purposes. There are three options available: {Cost center department}, {Cost center employee} and {Cost center project}.
Select cost center machinery
You can indicate which cost center is selected as default when making machinery entries for projects in the project group. The selected cost center will be used for budgeting and journalizing purposes. There are two options available: {Cost center machinery} or {Cost center project}.
Approve: Hour entries
This setting is used to determine who can approve the hour entries created of employee who involved in a project. You can select:
- {Approver 1} - approved by the person as stated in 'Approver 1'.
- {Approver 1 and 2} - approved by both approvers as stated in 'Approver 1' and 'Approver 2'.
- {Approver 1 or 2} - approved by either one approver as stated in 'Approver 1' or 'Approver 2'.
- {None} - no approval is required.
Approver 1
You can define who as the first approver to approve the hour entries. There are 5 options available: {Budget manager}, {Cost center manager}, {Department manager}, {Project manager} and {Role: Hour entry (Approver)}. However, availability of options is dependent on the selection you have made in 'Approve: Hour entries'.
Approver 2
You can define who as the second approver to approve the hour entries. There are 5 options available: {Budget manager}, {Cost center manager}, {Department manager}, {Project manager} and {Role: Hour entry (Approver)}. However, availability of options is dependent on the selection you have made in 'Approve: Hour entries' and the option which you have chosen in 'Approver 1' will not be shown in 'Approver 2' for selection.
Work in progress calculation method
This setting is important for how the work in progress should be determined. You can select:
- {Completed contract} - work in progress G/L accounts are used. The transactions (cost incurred in each project entry) on the work in progress G/L account can be released (moved from balance sheet G/L account to profit & loss G/L account) individually
- {Do not use WIP} - work in progress G/L accounts are not used
- {Percentage of completion} - work in progress G/L accounts are used. The expected revenue is generated based on the forecast and actual expenses.
Determine work in progress per cost category
This setting is enabled when you choose {Percentage of completion} in 'Work in progress calculation method'. Once enabled, this will determine that the work in progress expenses / revenues for projects which linked to this project group is calculated per each cost category (if you have selected {Cost category} for 'Journalizing level').
Journalizing types tab
You can click the 'Add' button to link journalizing code to the project group or 'Delete' button to delete the journalizing code.
Matrix for data entry
Journalizing code
Use <Ctrl+B> to select the appropriate journalizing code that you want to link to this project group. By linking the appropriate journalizing code, it will help you to determine which general ledger account will be used for the projects which linked to this project group during journalizing.
Documents tab
You can click the 'Add' button to link documents to the project group or 'Delete' button to delete the documents.
Matrix for data entry
Category code: External
Select an external category of the document to be linked to the project group. You can create external categories in [System: Setup, Documents, External categories, Maintenance].
Description
Enter a description of the linked document, if required.
Path: Complete
Enter the full path or URL of the document. The path in the 'Fixed location' field on the 'General' tab in [System: Setup, Documents, External categories, Maintenance] if defined, will be filled in by default. Then you will only need to enter the remaining path.
See also:
[Project: Master data, Reports, General, Project groups]
[Project: Master data, Reports, Journalizing, Journalizing types per project group]
Project Manual >
Contents >
Defining settings and creating master data > Creating master data > Creating project groups >
[Project: Master data, Maintenance, General, Project groups]
| Main Category: |
Support Product Know How |
Document Type: |
Online help main |
| Category: |
On-line help files |
Security level: |
All - 0 |
| Sub category: |
Details |
Document ID: |
17.991.494 |
| Assortment: |
Exact Financials
|
Date: |
11-11-2008 |
| Release: |
|
Attachment: |
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| Disclaimer |