Project management Accounting -8
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foreign
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welcome back again uh on project management accounting basics
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today we are in the last session we discussed about how to pose the expense
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journal in from the different uh screens or different ways from the
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project expense Journal IAP invoice Journal pending vendor in my journal general journal uh
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and expense report these are the ways we posted the expense Journal uh in the
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last session and we discussed about the expense policies as well project expense
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policies so coming to now we are going to do work breakdown structure
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[Music] in this session let me go to project management
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accounting this is my new system so I'll create one project again
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for our demonstration
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let me take new
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and time and material I'll use basic
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time and material project I'll use one of the group which is
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already there and the contract also I'll use the say uh existing one
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so these topics anyway we already discussed so I'm assigning the existing
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ones if you have project manager as in the project manager as well
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create project
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once project is created let's discuss about the work breakdown
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structure work breakdown structure the name contains
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work breakdown stretcher that means that name itself contains the definition of
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the work break demonstrator breaking the work into several parts or like for
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example there is a big project okay for that that big project will
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um will will we need to complete step by
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step right so we need to break the project into several steps once the step
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is reached Milestone uh we need to reach one by one and later on we need to
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complete the entire project right best example is that any Metro projects
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uh they will take for uh 10 kilometers or 20 kilometers but they won't
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construct any 20 kilometers into one one shot they will separate uh from one
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place to another place in one part and from that place to another place it is a
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first two kilometers one part next to two kilometers or next three kilometers one part like that they will segregate
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the work or they will debate the work right same way
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breaking the work into several stages uh is called a work breakdown structure
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another best example is that if we get any implementation project there are uh
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there will follow um methodology or any agile methodology or
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normal customized methodologies right like a first starting stage is that uh
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getting the requirement analyzes design development deployment then go live then
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testing uh like uh hyper care support these are the stages different stages
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right say that that is nothing but work breakdown structure work our entire
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project is breaking into different stages so that is about work breakdown
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structure creating is so in this session we'll discuss creating a simple
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breakdown structure and
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foreign structure
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and
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and will discuss about few topics in the work breakdown structure okay so let's start
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so work break demonstructure will be endo plan tab
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click on work breakdown Switcher so first line it will come automatically
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and coming to second line I am creating one more line and we we are going to
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plan our projectors like uh
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maybe analyze analyzes the first stage okay
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I am taking project or consult
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category default PM it's game automatically based on the default setup
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and we have so we need for analysis
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uh 16 hours maybe and I need
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um okay two days 15 and 16.
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duration it is showing here two days number of uh employees required
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resources one we given one resource ID also we can give and mapping also we can
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give it here resource who is the resource that are going to work
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okay this is one second stage is
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design stage I'll give you consult
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and for Designing it will take 30 hours
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and 15 to oh
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four days it's taken you if you want five days it will be five days and if
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you how many duration
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how many hours you want uh 15 16 17 18 4
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4 days we given four days it's uh we give in right
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normal 15 16 17 18 4 dice is four days
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and I need two resources here
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if I use two resources it will become two two days
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and uh next is
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development
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[Music] development stage
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consult [Music] and for this only I am giving 16 days
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and only we have three projects maybe or
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sorry three stages we can add one more stage also but I'll stop here with three
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stages like first stage is one right after this
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analysis phase what is the uh successor like uh producer means for
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design which step is the before step for design before step is anal analyze okay
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and same way for development which stage is uh precision
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it is design stage right
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[Music] let me select it from here
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oh come on
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okay um our comment is going
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okay so saved
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so here once the work breakdown structure is the published we can edit
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even after publish also versions will be generated
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so here we have details option here if you want to see the details import
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export also there if you want to import the work breakdown structure you can import
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that see here details of the
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details of this line and I think him and we have import we can import the work
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break now structure from the template that at the time it will be import export if you want to export it you can
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use the export move up move and if we want to move uh the development to the
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second uh stage move up it will if you want to
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move design to the last step then you can use move down
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[Music]
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and we have
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uh we have here in Dent uh
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uh we have indent and out dent this this is uh so if you want to uh Sub
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sub tasks if you want to use as a Sub sub task you can use indent if I do out
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and it will be like a stage one stage two uh if it is indent it will be like
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stage one under the stage one one more task 1.1 or something like that delete
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we have new Option anyway we discussed so let's save this
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and publish it okay once it is published
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we can edit as well uh we can edit and we can correct the schedule uh sorry
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work break demonstructure and again we can publish it
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here we have tracking views so there is no
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tracking view currently so it is just oh sorry there is tracking view uh
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remaining cost is this much cost at complete casted complete Planet cost so
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Planet cost is this much 11
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480 for the sorry this one
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analysis phase it is uh 3200 this is
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entire planned cash for the project level this is stage was uh
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analysis so plan is 5400 5000 2880 plan
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so let's show you the
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few more so if you want to see the transactions
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here you can see the transactions currently we don't have any transactions
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we have three options expense transactions item transaction and how much however transactions we never we
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didn't posted this any transactions to this project right so the there is
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nothing here and if you want to see the details you can see
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hello and they expand if you want to expand in
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the level basis you can expand it there is no sub uh category levels right
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that's why it is not showing here so cost of casted
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complete cost it complete is this much so cost remaining cost also this much
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but Planet cost is uh 11 480.
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so let me go to a breakdown structure again
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[Music]
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see here consult is there so instead of sort of PM my it is there
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normally we are using consult
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again publish it once it is published if you want to see
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the tracking details you can see from here and this is this tracking details
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see now it is planned and cost a cost remaining cost is same
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you can see the transactions here once if you post any transaction to this
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project so now what I'll do is that I'll create one hour journal for this project
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and we'll post it so currently it is in created see this project is
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so let me change it to so released
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stages stage names are different because I'm using different laptop
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so that's why these stages will come from the project management parameters
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whatever the setup uh mentioned in the parameter level that will come as a
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project stage right
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[Music]
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so here what I'm telling
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stages project stage
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here So currently these are diamond material project to be taken currently it is
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created estimated approved released close these are the stages available so
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that's why I changed it to release stage and let's go and book The Harvard
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Journal now let me take new and
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go to lines [Music]
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consult for example
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eight hours post it so I am booking eight hours
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our Journal now for this project
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so one before it gets posted I will go to the all projects from
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so some error does not exist because of error in lines
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the voucher cannot be pushed
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so period does not exist
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[Music]
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foreign so in the previous sessions we discussed
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about this period codes let me go to workers
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foreign
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[Music]
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only there are periods available
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so I'm creating for
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so let me check uh show timesheet periods
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period for eight
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eight
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[Music]
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worker periods also let me see
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foreign
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2014 onwards there is no periods so it will take time basically
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[Music]
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foreign
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okay let me check again
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or 2019 it's created
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foreign
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check with generate option
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need to check physical calendar created or not for 2023
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meanwhile I'll go to the calendars
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foreign calendar using for that particular user
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worker let me go to
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organization Administration calendars
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let's check one by one and here working times will be there
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and here we have date here
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no issue with this let me go to
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general ledger
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okay in The Ledger physical calendar
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see nothing here
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foreign
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this one yeah yeah
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let me try one more time
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so it's new system actually in the last session we discussed in
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different systems so that's why there are many issues coming in
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still it is coming to dollar [Music]
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some essays coming let's focus on the error messages
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project management accounting all projects
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foreign
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okay done it's posted now let me go to the
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uh transactions
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so work breakdown structure
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go into this after this tracking View so here if you notice it
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the tracking
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actual effect eight of us see previously there is no actual effect
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actual cost also there so if you want to check
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