Expense project leaving values in purchase accounts

  • Expense project leaving values in purchase accounts

    Posted by Scott Anderson on February 14, 2024 at 11:22 am

    We are attempting to create a project template for the purpose of budget management and reporting of internal costs but without accumulating the costs within the project – the costs should hit the main accounts from the purchase receipt and not moved into the project account (no project account would be ideal). <font color=”rgba(0, 0, 0, 0)” face=”inherit”>We created project categories to redirect the costs back to the original purchase accounts but we then find that the costs to not get reported against the project budget unless you also set a budget for each project category that might be used. This is difficult and undesirable </font>because<font color=”rgba(0, 0, 0, 0)” face=”inherit”> at the time of project creation and </font>budgeting<font color=”rgba(0, 0, 0, 0)” face=”inherit”> the individual categories are not know (ie: office supplies, spare parts, equipment, etc).</font>

    <font color=”rgba(0, 0, 0, 0)” face=”inherit”>Is it possible to create a Simple project that just exists to monitor spend without </font>accumulating<font color=”rgba(0, 0, 0, 0)” face=”inherit”> the spend in a project GL?</font>

    Zvika Rimalt replied 1 month, 1 week ago 2 Members · 3 Replies
  • 3 Replies
  • Zvika Rimalt

    Member
    March 19, 2024 at 10:44 pm
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    Scott – this is how the project module is designed.

    If you want to use Project Budget functionality you have to post into a project.

    If you post into a project, the “normal” posting profiles no longer apply but the posting profiles in the project module.

    If all you need is budget functionality against certain cost accounts, you possibly can use the ledger budget functionality?

    If you want to have further budget breakdown/breaking by “project” you can see if it will work for you to define an additional Financial Dimension against these accounts, call it “project” and populate it when you post into these accounts?

    • Scott Anderson

      Member
      April 2, 2024 at 10:18 am
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      Thank you. We can achieve the affect we are looking for by using the project categories to write the expense back to the originating P&L account. However, we have noted that when doing this the expenses do not appear in the budget performance calculations unless you added each project category as a budget line – which at the time the project is created and the budget is set is unknown. If we add the project category at a later date – even with a budget of $0 – the budget performance and control calculations work normally. Is anyone aware of a way to automatically create a budget with all project categories?

  • Zvika Rimalt

    Member
    April 9, 2024 at 7:47 pm
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    I don’t know what specific report you are referring to, but most project spend reports can run by either Category or by Transaction Type (“Expense”)

    If you just want to track project spend against a total budget, not broken by category, could you run the report that way? it will add up all budget you recorded, no matter what category, and compare it to the total actual expenses, no matter what categories they were recorded to.

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