Types of Transactions in Project Management

In this Community Summit North America 2022 moment, Judi Irion, Business Analyst, Ellipse Solutions, defines the different types of transactions in Project Management and how to make adjustments to them.

Highlights

00:08 – In Project Management, hours are workers or resources. Additionally, there are options to input items, expenses, fees, and on-account transactions. The difference between fees and expenses is that expenses come from accounts payable, and fees are customer charges that did not come through expenses.

01:03 – Within the Project Management parameters there are different types of transactions. In the Project Management accounting parameters, in the General tab there are various options for transaction types – the field groups “adjustments” and “display” are important for the software to know.

02:00 – For the various options for adjustments, a user can toggle yes or no to allow or prohibit specific adjustments. Users can also override data and allow adjustments for closed projects.