Project issue

If you are using the Project Accounting module, use this option to issue unallocated stock items to a project.

Note:
  • If you issue stock items to the project and the actual cost of the stock items is unconfirmed, the average price is used to calculate the cost that is posted. When the real cost is confirmed, if there is a difference, this is posted to the project as a Confirmed Price Adjustment transaction.

  • 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 issue stock internally to a project

Open: Stock Control > Issues > Project Issue.

  1. Select the Stock item.

  2. Enter the details on the following tabs:

    1. If you are using more than one location to store your stock, select the location where the stock item is stored using the Warehouse drop-down list.
    2. Accept the displayed default Project code and Cost Item or select another one from the list.
    3. Enter the Quantity of stock to be issued (up to five decimal places).
    4. Accept or amend the movement Date.
    5. If necessary, enter References for the movement of stock for the project.

    1. If required, select the Value for the relevant Analysis codes from the drop-down lists.

      Click New value to add a value to this analysis code.

      Note: You must have selected Add New on entry when setting up analysis codes in Accounting System Manager.

    2. Enter text into the Memo box to supply supplementary information about the transaction (optional).
    3. If the system is set to post to the Nominal Ledger, specify the Nominal posting accounts.
      1. Accept or amend the displayed nominal accounts.
      2. If necessary, add any descriptive text in the Narrative box.

    Use this tab to enquire on warehouse stocking levels.

    1. Select the Warehouse you want to enquire on, using the list. The warehouse stocking levels are displayed.
    2. Click Save (or Proceed if the stock items use batch/serial numbered items).

  3. Record batch/serial numbered items for issue.

    If you are using serial/batch numbered stock items when recording an internal project issue, an additional window appears. This shows all serial/batch numbers for the selected stock item.

    1. Select the batch/serial numbered items to be issued by selecting the check box to the left of each required item.
    2. Batch only: in the New Quantity column enter the amount required expressed in the item's stock unit.
    3. Click OK to save the information.
See also

Reference

Maintain analysis codes

Getting started with traceability