Project management Accounting -14 -1

hi everyone welcome back again uh I'm star I'm continuing with the billing rules uh

in the last video I uh disconnected uh without completing the agenda

okay coming to a next thing in the billing rule in the last video we have

discussed about building rule type Milestone now we'll start with building

time building rule type progress this is the another way to define the contract

value it has two methods manual and Auto in the manual manually

will Define the percentage of contract to Bill and in auto

system Define the percentage based on the actual budget

manage control status in the manage control status form we need to update

the percentage so let's start with the testing thing

for the progress type uh progress okay progress billing rule

um before that what I'll do is that

let me create one contract

with the progress type

rule progress

let me select the finding source click ok

now let's create the project

so we have two types right manual and Auto

okay so maybe I'll use this way

rule manual

okay

so I'll put like this so time and material

one project

ID let me change the stage to in browse released

okay again creating the one more project

click surprise

so change this stage to released

okay let me refresh it so two projects at the end

add billing rule in the type we need to select the progress

so we have other fields as well when you select the progress type

here you need to select the project and the category

okay if we category I selected

so contract value

okay

let's come back project contract status

so here update percentage

sorry before this here 0 is there

okay ten thousand

and come to manage contracts heaters

here update percentage

twenty percent I am giving

and after giving the 20 percent let's invoice the

percentage of completion

post it

once posting done if you come back

and go to so 20 percent completed eight thousand

remaining okay

and you can see

you can see this on account transactions which was created based on the billing

rule not in this I think

it's our invoice right

foreign

you can check in the building rule as well if you want to see the percentage of completion C years

2000 inflow

the maintain tab you have main is contract status you have this much 20 percent completed

okay this is one thing and for the R2 program Auto billing I'll just explain

how it goes um let me go to

billing rule

same as custom line line type progress those things

in the project tab we need you need to

uh you need to move this projects to

available sorry selected from the available

okay otherwise let me create new one

progress

so if you select fixed price there is no category if I select time and material it will

ask for the category and

select it and move here

and you have

option here chargeable categories you can Define

category categories that you want to charge

so you can select any any type of category that you want to

book book as per building ok

so once this is done this is once this is done let me one more time let

so however and now you need to create the

foreign

sorry it's taking late so it's just refresh issue so it's came

here now okay

uh main then

let me go to the project time and material project this one

I'll create one our Journal hmm

foreign

and let me do the invoice as well for this same hover Journal

see you got only zero value here

as per the building rule

let me go here

so once it is saved it won't allow us to edit

Maybe you need to provide the contract value

here once you provide it you can do the invoice from here after posting the

hover Journal so I missed that point

Maybe in coming if Source anyway we'll do

again from start starting to till end relating to the projects

okay that is the purpose of how you can create the unit sorry progress building

and if I'll show other things also briefly

not in the detailed menu or you can create

uh

unit of delivery uh you can you need to Pro follow the same process to create

the billing rules for example I'll go with

Milestone one sorry okay let's go

so for example Milestone contract this one is there for this only I'll create one more

building rule to show you how unit of deliverable work

let me add new here you need to select the

unit of delivery so then

how many quantity you need to provide and you need you need to provide sales price

also you need to provide and the project that you want to

applicable this building rule

okay

after this

after this come back and manage contract this thing select

the unit of delivery update unit delivery provide the how much delivery

happened for example five quantity delivered and once that is done

after clicking ok go to the invoice proposal

um this is the one unit of delivery 5000

okay pause the invoice

okay after boosting the invoice

go to the time and material project

oh not time and material project you can check the invoice from there as well

but uh you you need to check the how much percent is completed those details in

the manage contract status so this is the one right

see you complete here five thousand of work and fifty percent

is unit wise if you want to see click on units and 10 units 55 minutes in wires

five minutes remaining and percent is 50 completed this is a unit of delivered building

and Milestone I already discussed and we have one more type uh time and material

building uh that that is used only for time and material project ah

whatever the defined category that will be will Bill and it will ignore line

properties when when used so let me add that as well here only

uh we can ah add a number of

billing rules so it will applicable for the time and material project

so

select the project able categories you can you know select

whatever the categories that you want to

charge for building purpose

and go to the project and create our Journal

um original

buildable line property I given

post it

so if you go to the poster transactions in the manage tab

you can see this transaction which is chargeable

okay even though it is non-chargeable also this line property will be over

overruled by the building rule okay so now

NYS proposal

do the invoice

not this

okay now it's game yeah if I quantity

Phi quantity uh 325 per hour

so this is one more building Rule and we have one more as well fee Journal

that will work on the top of the other billing rules for example uh let me show

you fusional uh let me go to the contract

so contract we have this contract we have these many uh building rules right

if you create new and if you select the fee journal on the top of these three

building rules uh it will provide the percentage how much that fee supposed to

be calculated that is what this building role is it will calculate uh

so let me given the project this everything and

calculated depreciate sorry fee calculation rule I am selecting to this

here

okay and uh

let's go back and the manage contract value

if I go here VC it is showing zero value here

let me go to update Milestone status

uh maybe this second one I'm taking

how 2000 so updated

and for the percentage this one

time and material you can okay building rule this one we given

let me go to invoice proposal

uh this milestone

so Milestone one I'm selecting not other

click ok and post it

if you see the view details

watcher okay this is the voucher

that we have posted

uh main is contract status

building rule nine okay nine it's

time and material okay this is the one nine we selected uh

okay if I post hover journal and uh do the invoice then it will applicable

so we actually uh for free Journal we have selected this is the building rule

so that's why it is applicable only to this particular

building rule okay so when you post the Horizon and do

the invoice then 10 percent of fee will be applicable for the

uh transactions and we have other

few things when we are creating the

billing rule the number sequence is coming

parameter sorry

parameter so number sequence is generating right

that will be depend based on the number sequence that is available in the

project management parameters so I'll show that as well

few basic things number sequence

this is the building rule number sequence and when

default feature journals and default line properties those things will be

available here only journals here see default Regional these are the

default hover Journal those type of stuff

and line properties it will be at the category level project categories if you go to

um project categories

will say here default and property or one more is

there line properties projectile group line properties

this place you can assign the line properties based on the criteria

okay I'll stop here maybe in the coming episode will come

with a different topic I'll stop here maybe

and I am planning once this completion of basic topics

I'm planning to do some more analysis and testing part

on this module and one by one again I'll make a videos

after completing this is very like basic

level which I am learning for the project management module

so once this basic things completed we'll do some more testings and uh

some more Deep dive into this project okay so that will understood how it is

working okay thank you I'll stop here