Post timesheets to Financials

Use this if you have chosen to manually post timesheets to Financials.

When timesheets are posted, Nominal Ledger journals are created for the timesheet activities. The journal will contain debit and credit entries in the nominal accounts that you have specified. You can choose to record the nominal transactions separately or as a batch.

Open: Project Accounting > Utilities > System Setup > Timesheet and Expense claim settings | Financials

  1. Select to Post timesheets to Financials.
  2. Choose whether to post timesheets manually or automatically.
  3. Choose how to post transactions:
    1. Individual transactions
    2. Single batch transaction
    3. Period batched transactions
  4. Set the Nominal Ledger control account that the credit entry of the transaction journal will be posted to.

The following journal transactions will be made:

  • A debit entry is made to the nominal account linked to the project item selected for each timesheet activity. The item's revenue and expense nominal accounts are set on the Costs & Charges tab for the project item.

  • A credit entry is made to the timesheet Nominal ledger control account entered in the Timesheet and expense claims settings.

    The entry will also include the cost centre and department code entered on the resource record, if appropriate.

If WIP is in use and enabled for the project, cost postings are made to the WIP account. Any uplift is also posted to the WIP code. The WIP value will show the full value of the cost including uplift. If WIP is not in use or not enabled for the project, the postings will go to the default nominal Expense code on the project item.

  • If Use Specified is selected on the cost item linked to the project item in the posting, the WIP account is the WIP code with the specified cost centre and department.
  • If not, then if Split postings between cost centres for balance sheet accounts is selected on the company's System Settings | Operational tab in Accounting System Manager, the WIP account is the project item WIP code and the cost centre and department from the parent project.
  • If Split postings is not selected, the WIP account comes from the project item WIP account and the cost centre and department are blank.

To manually post timesheets to Financials

Open: Project Accounting > Utilities > Import and Export > Post Timesheets to Financials.

  1. To filter the timesheets displayed:
    • To display timesheets for a particular individual, select Show timesheets for resource and select the resource from the list.
    • To display timesheets from all resources, select Show timesheets for all resources.
    • To display timesheets by date, select Range of timesheets and the week to display, then click Display.
    • To display timesheets for a particular project, select Show timesheets for project and select the project.

    • To display timesheets from all projects, select Show timesheets for all projects.

      Note: You can also sort the timesheet entries in the list by clicking on the column headings, e.g. clicking on Date will sort the list in ascending or descending date order.

  2. Select the timesheets to post to Financials.

    Tip: To select multiple items, use the Ctrl key to pick individual items, or hold down the Shift key to select a block of items.

  3. To post the selected timesheets, click Post.

    Note: If you are posting a single batched transaction which contains entries that occur in more than one accounting period, you must select the accounting period to post the batch transaction. If you do not want to group transactions that occur in different accounting periods, you can set up the system to post a period batch transaction in the Timesheet and Expense claim settings. Using this method, separate batches are generated for each accounting period.

See also

Other tasks

Post timesheets to Project Accounting

Post timesheets to Payroll

Reference

Financials integration settings for timesheets and expense claims