Financials integration settings for timesheets and expense claims

Use this to automatically post your timesheet costs into the Nominal Ledger to reflect what is posted into the projects.

If you are using projects to gather costs relating to time and expenses incurred by your resources, but you do not want to post these costs to the nominal accounts then do not select these options. However, if you then wanted the costs to be reflected in the nominal ledger, you would need to calculate the cost for each nominal account and post these manually.

To specify your Financials integration settings

Open: Project Accounting > Utilities > System Setup > Timesheet and Expense Claims Settings | Financials.

Select from the following settings:

Financials integration settings for timesheets

If you want to post your timesheet transactions to Financials (Nominal Ledger), specify the Financials integration settings for timesheets:

Post timesheets to Financials

Select this if you want to post timesheet costs to the Nominal Ledger

Post timesheets to Financials automatically

Select this to post timesheets to Financials automatically.

Once selected, your timesheets are automatically posted when they have been submitted or authorised.

If you do not select this setting, you can manually post timesheets to Financials using the Post Timesheets to Financials option.

Update nominal ledger with

This is only available if you have not selected to Post timesheets to financials automatically.

These options control how the postings from timesheets appear as transactions on your nominal accounts when they have been posted to financials.

Having each timesheet generate individual nominal transactions may result in a great many transactions being created in your nominal accounts. However, this does allow you to track the nominal transaction back to the project posting, using the URN (unique reference number).

If you do not want to have so many nominal transactions you can choose to amalgamate the postings but, if you do so, it will not be possible to link the nominal transaction back to the project postings.

Choose from the following options:

Individual transactions: Select this to record each timesheet activity as an individual journal transaction in the Nominal Ledger.

Note: This will generate a large number of transactions in the Nominal Ledger.
Period batched transaction: Select this to amalgamate timesheets posted in the same accounting period into a single transaction.

As the dates on your timesheets may span many dates within each accounting period, the nominal transaction date is set to the end date of the relevant accounting period.
Single batch transaction: Select this to amalgamate timesheet posting for the same nominal account in to one nominal transaction.

As the timesheet dates may span more than one accounting period, when you post the timesheets to financials you must choose which accounting period these are posted to. The nominal transaction date will be set to the end date of the selected period.

Nominal ledger control account

Select the Nominal ledger control account that the credit side of the timesheet transaction journal will be posted to.

This is the nominal account that will be used for the control posting when a timesheet is posted to financials. Each timesheet (depending on your Update Nominal Ledger with settings) creates an expense posting (debit) and a control posting (credit).

Nominal ledger account entered on timesheets

This is only available if you have not selected to Post timesheets to Project Accounting. If you do not post timesheets to Project Accounting, you do not choose a project item on the timesheet. Therefore the nominal account used for timesheet posting must come from elsewhere.

Here, you choose whether to select this account when you enter a timesheet, or specify a default nominal account to use for all timesheet transactions.

Nominal Ledger account entered on timesheets: Select this to choose the nominal account when entering a timesheet.
Nominal ledger account entered on timesheets: Enter the nominal account that you want to use as the default for all timesheets. You must also clear the Nominal ledger account entered on timesheets option.

Note: When the timesheet user selects an account, the transaction entered for the account will include the cost centre and department codes set in Resource record. If there is no nominal account with the relevant cost centre and department codes, an error message is displayed.

Financials integration settings for expense claims

If you want to post your expense claim transactions to Financials (Nominal Ledger), specify the Expense claim integration settings for timesheets. Once selected costs associated with your expense claims are posted to the Nominal Ledger.

Post expense claims to Financials

Select this if you want to post expense claims to the Nominal Ledger

Post expense claims to Financials automatically

Select this to post expense claims to the Nominal Ledger automatically.

Once selected, your expense claims are automatically posted to the Nominal Ledger when they are submitted or authorised.

If you do not select this setting, you can manually post your expense claims using the Post Expense Claims to Financials option.

Payroll expense claim nominal ledger control account

This is only available if you have chosen to integrate with Sage Payroll.

Enter the nominal account that you want to use to hold the value of expense claims until they are paid out through the payroll run.

This nominal account is used when an expense claim is posted to the Nominal Ledger and the payment method is Payroll. Whether this control account code is used in its entirety or whether the cost centre and department come from elsewhere depends on many other settings.