Project transactions

Project Accounting can be integrated with other Sage 200 modules and you can assign these transactions to your projects direct from these modules, as long as you have chosen the relevant integration settings in the Project Accounting Settings and Project Structure Settings.

In addition, there are other transactions that are specific to the Project Accounting module.

Project transactions

The following transactions are specific to the Project Accounting module:

• Project accruals

  Use this to account for a cost that has not yet been received or entered into Sage 200 such as a purchase invoice, a timesheet or an expense claim.

• Project cost and revenue adjustments

  Use these to move costs and revenue from one project item to another or from one project to another.

  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.

  See how the WIP account is derived

  • 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.

  Note: When costs are moved between projects, the cost postings are also moved to the WIP code in the new project.

• Cost and revenue opening balances for projects

  Use this to enter opening balances for new projects that already have some transactions associated with them.

• Timesheets and Expenses
• Billing

Note: The Confirmed Price Adjustment transaction type is created automatically within Project Accounting, when there is a price discrepancy between the stock issued to the project at unconfirmed cost and the confirmed cost of the stock entered once that is known. You will see the Confirmed Price Adjustment transaction type in project enquiries within Project Accounting if such discrepancies exist.

Confirmed Price Adjustment transactions and WIP

If WIP is in use, there are different outcomes for Confirmed Price Adjustment transactions, depending on whether or not the original value of the transactions has been finalised.

The postings value	has been finalised	has not been finalised
The adjustment value will be posted to	the project item expense code.	the project item WIP account.
The uplift is posted to	the project item Uplift nominal code.	the project item WIP account.
The WIP value will be	0 (zero).	the full value of the cost of the transaction, including uplift.
The expense code will contain	N/A	the value of the project item expense code.
The finalised date will be	the date of the Nominal postings.	N/A
The finalisation bill number will be	null.	N/A

Sales and purchase orders

When entering the following transactions, a Project Analysis tab is displayed. Use this to specify the project, project item and the amount that you want to assign to the project:

• Sales quotations, orders and returns

You can choose where the nominal accounts originate when entering project analysis on standard items which belong to a product group with Product type of Stock on sales order lines and returns.

You can choose different origins for costs and revenue postings.

To set up cost or revenue defaults for project analysis postings
Open: Project Accounting > Utilities > System Setup > Project Accounting Settings | Postings.
• Select Project Item to use the nominal account on the project item, selected for costs or revenues on the order line.
• Select SOP Settings, to use the Revenue nominal account for revenues and the Issues and stock nominal accounts for costs, as selected on the Default Accounts tab of SOP Settings.

• Purchase orders and returns

  When purchasing a stock item for a project, you must also issue the allocated stock item to the project in the Stock Control module. For a detailed explanation of how to allocate purchase orders to projects see How to allocate purchase orders to projects.

Stock transactions

In the Stock Control module, you can issue and allocate stock to a project using the Project Issue, Project Return and Project Allocation options.