Maintaining Project Balances
You keep your project balances current by entering, generating, or importing journals.
To enter project journals:
- Enter project journals the same way you enter standard journals, except that you enter a project code in the project segment of your account. You can combine multiple projects in a single journal batch.
To generate project journals:
- Set up recurring journal entries for your project tracking.
- Use a skeleton recurring journal entry if the amounts vary each accounting period but the accounts remain the same.
- Use standard recurring journals for transactions whose amounts are the same every accounting period, such as standard accruals or depreciation charges.
- Use formulas to automatically calculate project journal amounts.
To import project journals:
- Use Journal Import to import journals to your projects from your feeder systems or other applications.
To generate project allocations:
- You can perform simple or complex allocations to or from your projects. Define project allocations the same way you define regular allocations, using a project code in the project segment of your account.
To define a project allocation, you must specify the cost objective (where you want the costs to go), the cost pool (the account from which you want to allocate), and the allocation method. You can define any kind of allocation you want for your projects, including usage-based, rate-based, and step-down allocations. You can include multiple projects in a single allocation entry.
You define your project allocations once and then generate them periodically as necessary.
See Also
Creating Journal Batches
About Recurring Journals
Creating Recurring Journal Formula Batches
Creating Allocation Entries
About MassAllocations
Importing Journals
Posting Journals
Reporting on Projects in General Ledger
