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If you set up your accounts for project tracking, General Ledger automatically maintains project-to-date balances. The project-to-date balance is based on the project start date you enter when you define a project segment value. Project-to-date balances are useful since project time periods rarely coincide with a fiscal year. General Ledger carries forward project-to-date balances for all accounts, including revenue and expense accounts, even across fiscal years.

For more advanced project tracking functionality, you should use the Oracle Project Accounting products. You can keep detail project information in Oracle Project Accounting, import journals into General Ledger, and report on project balances in General Ledger.

   To set up General Ledger for project tracking:

1. When you define your account structure, define a project segment. If necessary, you can define more than one project segment.

2. Define the project segment values. Enter a new project value (project name, number or code) and a description of each project. Specify a start date and end date for each project, so that you can only enter amounts for that project within that date range. The start date is also the reference point for the project-to-date-balance.

3. Define parent project segment values to summarize projects. For example, you might define project 9999 as the sum of all your other projects. You could then produce a report for project 9999 that shows the total of all your projects.

You can also define project summary accounts to summarize other detail project account balances. Whenever you update the balances of your detail accounts, General Ledger automatically updates the balances of your summary accounts at the same time.

4. Define and assign cross-validation rules to allow only certain segment values in combination with your project. For example, you can define a cross-validation rule that only allows certain expense accounts to be used with certain projects.

5. Create accounts by combining your project segment values with other account segments. This enables you to account for a project any way you want -- within a single cost center, across departments or across companies.

   To set up project budgets:

• You can enter budgets for projects with your regular budgeting. Assign project accounts to your budget organizations. When your budget organizations prepare their budgets, they can budget project amounts.

You can also perform project budgeting independent of other budgeting. Define a project as a separate budget organization, and prepare its budget independently from the rest of your company.

See Also

Defining Your Cross-Validation Rules

Defining Segment Values

Defining Key Flexfield Segments

Defining Summary Accounts

Defining Accounts

Defining Budget Organizations

Defining Budgets

Maintaining Project Balances

Reporting on Projects in General Ledger