Project management Accounting -3

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welcome back again uh so today our agenda is that a few other

topics in project management accounting

so let's get started we uh covered all the transactions uh like our Journal

expense Journal fusional item beginning balance journal

in the launched session so let's go to project management

module so we'll proceed with project adjustment transactions so if you want to do any

adjustment to the transactions how you can proceed with that how to do the

adjustment for the transactions so we'll take same example which we

already posted few transactions for the one of the project so we'll do the

changes to the same transactions so that you'll easily recognize what we are

doing

so uh to do the adjustment for the transactions

go to periodic there will be two ways go to particular specific project and uh or

we have periodic there is a just transactions first we'll proceed with uh

going to the project transactions so how to go

to all projects select your project and may under many step we have uh project

posted transactions

these are very uh basic topics in the project management accounting that we

are learning together in this sessions

so one double five this is the first project we posted a few transactions

at the first session of this project management accounting

okay these many transactions we have

and we have process tab here adjust transactions

on date you need to select adjustment date so I'm taking the today's date as

adjustment date

okay I'm not giving any changes in this particular form I'm just clicking ok

you'll get one more form there you can do the adjustments what you want to do

so this is uh actual entry and we have uh below one more form and for example

you have posted to PM right a category you posted to PM but you need a

you supposed to post different project by mistake or something uh

while posting the entry maybe you were wrongly taking the PM

so to correct that you can select the different uh

category I am taking the service

once the service selected I'm just clicking the

post button directly after changing the category

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message saying that transaction updated for transaction ID

this one so let's go back and check the transactions

okay so if you see here

this is the newly posted transaction again no

so see here these two note these two uh this one

this is the one we just corrected it to the service

and we have a just Trace as well here

so this is the adjustment trees for this particular transaction

you can go and check the voucher from this screen as well

so this is the one project cost and WAP

only if you go first in this line

you have this project WAP pro project course but this

is uh pm category

okay so

you can see here minus and positive

I am filtered with hover Journal so this is place and we system is automatically

reversing the transaction which you posted to the PM category because you

are adjusting that particular transaction right so it's whatever the

transaction debit credit it will be now credit debit uh for the PM category and

uh service category one more transaction has been booked

one more transaction has been booked

okay so

sorry one more transaction has been booked with as we are changing the category to

service so next one more uh topic as I said you we can

adjust the transaction from the project uh form itself to the specific project and

posted transactions then adjustment we have one more method for adjusting

the transactions that is from the periodic tab

periodic and we have adjust

transactions

so it will come the screen with empty uh transactions or empty lines but when you

do the uh when you click this uh select option you will get the all list

of transactions available or you need you can select the what type of

transactions you want to adjust currently I'm doing for time and

material project right my project is time and material so I am selecting only time one material project and I am

selecting maybe uh have a expense item fee

these journals I want and so adjustment date and pro project date

so from date and to date I'll give August 2nd and fourth so that

ah it will come very few transactions so that we can easily

recognize or you can select the project uh that you want to do the adjustment uh

from this uh periodic so I'll take uh only one project that we

already posted the transactions so that we can recognize easily

so this is the project we created and we did some transactions and we are testing

on this so only this project

transactions will appear during this period the karate and the criteria you have

selected based on that it will show us to do the adjustment

so you can do a multiple adjustments as

well for example if you select three lines

and if you want to change the line property to be level you can do

that as well once you click ok

it will come to the next form so if you go with one by one one one by

one line this line it will show one transaction when we select the first

line and you can change the category as well so you can do the category changes

as well but I changed only line property while doing the adjustment I can post it

so okay so pending for adjustment the posted one gone from the screen if you post this

one this will also uh exit from this particular form

so these two are already selected for adjustment so three lines so I am

posting all the three lines it's went off here if you go to that particular posted

transactions you will get these list of adjustments there

we just changed the line property so that's why it won't create any uh

transactions for reversal it will come for billing

instead of that it will come from Bill Comfort billing

so this is that project and posted transactions

filter with hover

see adjusted only one is there these three we changed to chargeable

these three okay there is no negative transaction and all though that stuff is not there

because we adjusted only the whether it is billable or non-villable

okay got it so I hope you understood this concept

uh

okay let's go to parameters uh to see if

you uh fields

see here a lower just transactions of transaction status so what type of

transaction seal is allowed for adjustment posted invoice proposal once

invoices well and also if you want to adjust you can do that and estimated if

it is there elimination if you want to adjust you can do that if you enable these fields

okay and we have

always create adjustment transactions if you want to enable this one you can

enable it when when you have the requirement

okay

so coming to next concept I will show from here

itself so it is validations project validations

validation is nothing but controlling or recording the transactions for the work

have expenses item tasks Etc

so there are three types of validation worker as worker and project project

category category and worker so these are the three types of uh

validations we have so to enable those validations first

first of all you need to go to project management accounting parameters and the

general tab we have somewhere validation

here sorry here these are the three types project category Pro resource project category

resource okay

so worker project project category resource project resource category so

these are the three types we have and we have three options here none means

nothing no validation required and mandatory means it must ensured and look

up lookup means it will take from the uh project uh

validation form

so if it is uh lookup it will show the project applicable categories and if it

is mandatory it will show all the categories available

in the system so let's

will proceed with one first and maybe you can do your testing if in your

system with other Concepts none anyway there will be no validation maybe I'll

try with a lookup lookup value it is project and category

lookup okay so let's close it

okay let's go to the project that we have created

oh

okay this is our project

and this project I'll try to create our Journal again

so I just uh given five hours here

and try to save it and I'll validate this one

Journal is okay if I click category for this project

it's showing everything

let me go and save one more time I think it's not refresh refresh state

or project category validation is already available um

together

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sorry this is product

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project resource resource category

category

so validations

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project category validation groups check it out

um our project is one five level five

one double five

so category what is this category group or

category

right

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so I think it's refresh issue let me

do it again I'll go with the expense Journal

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this one category

we are able to select it

nothing selected what happening

what's happening

parameters project category lookup

I think I need

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try this it's supposed to give an error message

when the project category validation is not available

accounting deleting this line

under resource list

is taking a lot of time

I'll give you Leah so

Julia funderburg here

you can assign the projects as in the categories from the this level as well

you can assign it from here

which project validation group

so I'm going to parameters to change it mandatory

instead of lookup

this is Project category

so let's keep on validating so I'm not sure why it is

not giving an error message let's go to Project

so here

enable category validation

so I just given the enabling category validation for this project

and let's create the expense Journal now

fill the data and validate the journal so see here the combination of project

and category is mandatory but does not contains the project category travel so

category not available for this project so see here nothing is showing it is not

defined so that's why it's giving the error message then what we need to do is that to solve

this let's delete the line

so this is what I want to show you so that's why I tried it mandatory and

this field we missed this setup we missed so that's why we are not able to

replicate the issue but now anyway we got the we got which strap is missed we

enable this one and while posting the while creating the journal itself we are getting the error message

coming to how to solve it go to manage tab

oh sorry plan tab assign categories

here group level you can give or maybe category level you can give

let me select only one

so now this project is assigned with this particular

category validation let's do the expansion now

so click on drop down see we can see only one

which is assigned to that particular project you don't have option to select it

select the other because another other categories are not as into

this particular project okay let's go with uh

one more scenario by changing to lookup previously it's lookup notebook because

we didn't enable the category validation at the project level

let me take new one instead of that let's save this

and close it

so it's showing the same travel category

okay so this is the way you can validate uh

project category project resource and resource category

so you can assign the projects to the resource as well from

the human resource module or from the project management module

from the resource list page from here you can assign it

and same way if you mention the validate Resource as well you need to

enable the resource functionality

let me give all the three years

all the three validations required then I'll go with all mandatory things

save and close

let me delete this new

travel is coming because we already assigned to that particular project

I don't give any resource no as of now I'll book only

seven thousand try to validate

validate

it's validating successfully let's go back

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Let me refresh the URL

a parameter level whatever you are mentioning that is applicable and it is

this General configuration if you want to uh enable

the validation for the particular project and then you can enable from the project

master it's very slow actually

maybe next session I'll try to improve this system speedness

but not guaranteed

this is our project

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the resources you can do it from here or you can you want to brew from the

validation group you can group here so I'm assigning this person to the

validation session

yeah I think system is very slow actually so maybe I'll try to cover remaining

things in the next session so it's very

slow but not that I'll go to explain

so I'll stop here by so today we discussed adjustments and validations

so three types of validations we have worker project project category category

resource there are three types of project categories okay

we'll discuss later with maybe I'll cover this validation if possible one

more time because system it is uh very slow and

not able to explain it uh both the ways like input and output

okay I'll stop here thank you