Use project cost and revenue adjustments to move costs or revenue from one project item to another project item, either in the same project or to a different project. You may want to do this if you change the project structure or have allocated costs or revenue to the wrong item by mistake.
Use this to make cost and revenue adjustments in Project Accounting, as opposed to issuing invoice and credit notes in Sage 200 Financials.
You must have:
Open: Project Accounting > Enter Transactions > Enter Cost Adjustments.
Open: Project Accounting > Enter Transactions > Enter Revenue Adjustments
Select a nominal account, cost centre and department.
If you have selected a project item, the relevant nominal account, cost centre and department are displayed. You can amend these, if required.
Enter a Goods Value.
You can enter a negative value to remove a cost or revenue from an item. This must be balanced with a positive entry against another project item to receive the cost or revenue.
The total of the goods values from all the lines must balance and equal zero. If the total is not zero, you will not be able to post the transactions.
Note: The Tax Code displayed here is for information purposes only and does not affect the VAT Return, as only the Goods value is posted to your projects.
When you have finished entering the cost adjustments, you can post a journal for the transactions by clicking Save.
A nominal journal is created for the adjustment using the nominal accounts specified.
The reference number of the journal containing the transactions appears.