Project transactions

The following transactions are specific to the Project Accounting module:

• Project accruals

  Use this to account for a cost that has not yet been received or entered into Sage 200 such as a purchase invoice, a timesheet or an expense claim.

• Project cost and revenue adjustments

  Use these to move costs and revenue from one project item to another or from one project to another.

• Cost and revenue opening balances for projects

  Use this to enter opening balances for new projects that already have some transactions associated with them.

• Timesheets and Expenses
• Billing

When entering the following transactions, a Project Analysis tab is displayed. Use this to specify the project, project item and the amount that you want to assign to the project:

• Sales invoices and credit notes
• Purchase invoices and credit notes

• Nominal taxable payments and receipts

  If you make or receive payments during a project that do not relate directly to a customer or supplier transaction, you can record them as nominal taxable payments or receipts in the Nominal Ledger.

  The transaction is recorded against the selected project and project item. You can choose to record these as costs or revenue in your project, using an additional As Cost or As Revenue check box. You can choose which is selected by default in the Project Accounting Settings

  To set cost or revenue defaults for nominal payments or receipts

  Open: Project Accounting > Utilities > System Setup > Project Accounting Settings | Miscellaneous.

  • Select As Cost or As Revenue as the default setting for your taxable payments and taxable receipts.

    Note: You can override this setting when entering individual receipts or payments in the nominal ledger.

When entering the following transactions, a Project Analysis tab is displayed. Use this to specify the project, project item and the amount that you want to assign to the project:

• Sales orders and returns for free text items

• Purchase orders and returns

  When purchasing a stock item for a project, you must also issue the allocated stock item to the project in the Stock Control module. For a detailed explanation of how to allocate purchase orders to projects see How to allocate purchase orders to projects.

In the Stock Control module, you can issue and allocate stock to a project using the Project Issue, Project Return and Project Allocation options.