Project management Accounting -8

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welcome back again uh on project management accounting basics

today we are in the last session we discussed about how to pose the expense

journal in from the different uh screens or different ways from the

project expense Journal IAP invoice Journal pending vendor in my journal general journal uh

and expense report these are the ways we posted the expense Journal uh in the

last session and we discussed about the expense policies as well project expense

policies so coming to now we are going to do work breakdown structure

[Music] in this session let me go to project management

accounting this is my new system so I'll create one project again

for our demonstration

let me take new

and time and material I'll use basic

time and material project I'll use one of the group which is

already there and the contract also I'll use the say uh existing one

so these topics anyway we already discussed so I'm assigning the existing

ones if you have project manager as in the project manager as well

create project

once project is created let's discuss about the work breakdown

structure work breakdown structure the name contains

work breakdown stretcher that means that name itself contains the definition of

the work break demonstrator breaking the work into several parts or like for

example there is a big project okay for that that big project will

um will will we need to complete step by

step right so we need to break the project into several steps once the step

is reached Milestone uh we need to reach one by one and later on we need to

complete the entire project right best example is that any Metro projects

uh they will take for uh 10 kilometers or 20 kilometers but they won't

construct any 20 kilometers into one one shot they will separate uh from one

place to another place in one part and from that place to another place it is a

first two kilometers one part next to two kilometers or next three kilometers one part like that they will segregate

the work or they will debate the work right same way

breaking the work into several stages uh is called a work breakdown structure

another best example is that if we get any implementation project there are uh

there will follow um methodology or any agile methodology or

normal customized methodologies right like a first starting stage is that uh

getting the requirement analyzes design development deployment then go live then

testing uh like uh hyper care support these are the stages different stages

right say that that is nothing but work breakdown structure work our entire

project is breaking into different stages so that is about work breakdown

structure creating is so in this session we'll discuss creating a simple

breakdown structure and

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and

and will discuss about few topics in the work breakdown structure okay so let's start

so work break demonstructure will be endo plan tab

click on work breakdown Switcher so first line it will come automatically

and coming to second line I am creating one more line and we we are going to

plan our projectors like uh

maybe analyze analyzes the first stage okay

I am taking project or consult

category default PM it's game automatically based on the default setup

and we have so we need for analysis

uh 16 hours maybe and I need

um okay two days 15 and 16.

duration it is showing here two days number of uh employees required

resources one we given one resource ID also we can give and mapping also we can

give it here resource who is the resource that are going to work

okay this is one second stage is

design stage I'll give you consult

and for Designing it will take 30 hours

and 15 to oh

four days it's taken you if you want five days it will be five days and if

you how many duration

how many hours you want uh 15 16 17 18 4

4 days we given four days it's uh we give in right

normal 15 16 17 18 4 dice is four days

and I need two resources here

if I use two resources it will become two two days

and uh next is

development

[Music] development stage

consult [Music] and for this only I am giving 16 days

and only we have three projects maybe or

sorry three stages we can add one more stage also but I'll stop here with three

stages like first stage is one right after this

analysis phase what is the uh successor like uh producer means for

design which step is the before step for design before step is anal analyze okay

and same way for development which stage is uh precision

it is design stage right

[Music] let me select it from here

oh come on

okay um our comment is going

okay so saved

so here once the work breakdown structure is the published we can edit

even after publish also versions will be generated

so here we have details option here if you want to see the details import

export also there if you want to import the work breakdown structure you can import

that see here details of the

details of this line and I think him and we have import we can import the work

break now structure from the template that at the time it will be import export if you want to export it you can

use the export move up move and if we want to move uh the development to the

second uh stage move up it will if you want to

move design to the last step then you can use move down

[Music]

and we have

uh we have here in Dent uh

uh we have indent and out dent this this is uh so if you want to uh Sub

sub tasks if you want to use as a Sub sub task you can use indent if I do out

and it will be like a stage one stage two uh if it is indent it will be like

stage one under the stage one one more task 1.1 or something like that delete

we have new Option anyway we discussed so let's save this

and publish it okay once it is published

we can edit as well uh we can edit and we can correct the schedule uh sorry

work break demonstructure and again we can publish it

here we have tracking views so there is no

tracking view currently so it is just oh sorry there is tracking view uh

remaining cost is this much cost at complete casted complete Planet cost so

Planet cost is this much 11

480 for the sorry this one

analysis phase it is uh 3200 this is

entire planned cash for the project level this is stage was uh

analysis so plan is 5400 5000 2880 plan

so let's show you the

few more so if you want to see the transactions

here you can see the transactions currently we don't have any transactions

we have three options expense transactions item transaction and how much however transactions we never we

didn't posted this any transactions to this project right so the there is

nothing here and if you want to see the details you can see

hello and they expand if you want to expand in

the level basis you can expand it there is no sub uh category levels right

that's why it is not showing here so cost of casted

complete cost it complete is this much so cost remaining cost also this much

but Planet cost is uh 11 480.

so let me go to a breakdown structure again

[Music]

see here consult is there so instead of sort of PM my it is there

normally we are using consult

again publish it once it is published if you want to see

the tracking details you can see from here and this is this tracking details

see now it is planned and cost a cost remaining cost is same

you can see the transactions here once if you post any transaction to this

project so now what I'll do is that I'll create one hour journal for this project

and we'll post it so currently it is in created see this project is

so let me change it to so released

stages stage names are different because I'm using different laptop

so that's why these stages will come from the project management parameters

whatever the setup uh mentioned in the parameter level that will come as a

project stage right

[Music]

so here what I'm telling

stages project stage

here So currently these are diamond material project to be taken currently it is

created estimated approved released close these are the stages available so

that's why I changed it to release stage and let's go and book The Harvard

Journal now let me take new and

go to lines [Music]

consult for example

eight hours post it so I am booking eight hours

our Journal now for this project

so one before it gets posted I will go to the all projects from

so some error does not exist because of error in lines

the voucher cannot be pushed

so period does not exist

[Music]

foreign so in the previous sessions we discussed

about this period codes let me go to workers

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[Music]

only there are periods available

so I'm creating for

so let me check uh show timesheet periods

period for eight

eight

[Music]

worker periods also let me see

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2014 onwards there is no periods so it will take time basically

[Music]

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okay let me check again

or 2019 it's created

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check with generate option

need to check physical calendar created or not for 2023

meanwhile I'll go to the calendars

foreign calendar using for that particular user

worker let me go to

organization Administration calendars

let's check one by one and here working times will be there

and here we have date here

no issue with this let me go to

general ledger

okay in The Ledger physical calendar

see nothing here

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this one yeah yeah

let me try one more time

so it's new system actually in the last session we discussed in

different systems so that's why there are many issues coming in

still it is coming to dollar [Music]

some essays coming let's focus on the error messages

project management accounting all projects

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okay done it's posted now let me go to the

uh transactions

so work breakdown structure

go into this after this tracking View so here if you notice it

the tracking

actual effect eight of us see previously there is no actual effect

actual cost also there so if you want to check