Set up Project Accounting

You can set up Project Accounting to suit your type of business and the way that you work. To do this, you will need to make a number of decisions that will affect the way that you use Project Accounting. To help you make the right decisions, use the list below.

What you have to do

Whatever your business needs, you will have to:

• Enter Project Accounting Settings.

  Use the Project Accounting settings to:

  • Choose a project coding method.
  • Decide how to use budgeting.
  • Decide how to allocate overhead costs.
  • Decide how to deal with committed costs.
  • Define additional time and materials pricing rules.
  • Choose how Project Accounting integrates with other Sage 200 modules.
  • Define your project terminology.

• Enter Project Structure settings.

  Use the Project Structure settings to set up your project levels, group levels and project item types. For each level, decide on the following:

  • Choose whether to record a status.
  • Choose whether to record budgets.
  • Choose whether to use overhead absorption.
  • Choose which additional information fields to use.
  • Choose how each level integrates with other modules in Sage 200 and utilises features in Project Accounting.
  • Choose defaults for time and materials pricing rules, and default nominal codes.
• Create Project Items and Groups.
• Define Additional Information Fields.
• Define project statuses.
• Define units of measure.
• Decide how you will bill your projects.

Set up timesheet and expense claims

To set up the system for recording timesheets and expense claims, you will need to:

• Enter Timesheets and Expense Claims Settings.
  • Choose how information is entered and charged for timesheets and expense claims.
  • Specify your integration settings, if you are going to post transactions to Financials, Project Accounting or Payroll.
  • Choose the terminology you want to use for timesheet and expense claims.
• Set up your expense items and categories.
• Set up your resources (timesheet and expense claim users), organise them in a hierarchy, and set their cost charge rates.