| Excerpt | ||
|---|---|---|
| ||
define date ranges that control when time and expense entry/adjustments are allowed as well as group accounting transactions |
...
| Tip | ||
|---|---|---|
| ||
You can also watch this webinar Bridging the Gap between Delivery and Finance Teams [Go to 28:30] to watch a quick demonstration on how accounting periods work. In the Best Practices: Year End Projector Tasks webinar (25:55) we explain updating Accounting Periods at year end. |
The accounting periods editor is reached by going to Administration tab | Job Accounting subsection | Accounting Periods.
...
| Open For | Allows You To |
|---|---|
| Time | Applies to the work date of the time card. Company is derived from the project's cost center.
|
| Cost | Applies to the incurred date of the cost card. Company is derived from the project's cost center.
|
| Adjustment | Applies to time work dates and cost card incurred dates. Many of these are covered in the Time Adjustments and Cost Adjustments help topics. Company is derived from the project's cost center. If the adjustment goes between two companies, for example a transfer, then the originating company must be open for x and the destination company must be open for y.
|
| GL Transaction | You can always create a GL batch, but what that batch contains is driven by whether a period is open for GL. By default, a transaction falls into what we call the "natural" accounting period. For example, revenue from a time card is earned on the date it was worked. If you make a GL batch, it will be for the time card's natural accounting period. If the natural accounting period is closed for GL, then Projector looks forward in time and pushes the transaction into the first, open GL period it finds. If January, Feburary, and March are closed for GL, but a time card is approved in January, then the GL transaction rolls forward to the first open period, April. |
| AR Transaction | Driven by the invoice's Issue Date as defined on the Invoice Editor MP - Invoice Tab
|
| AP Transaction | As driven by the Approved to Pay date on the Payment Voucher
|
...
| Setting | Description | |||||
|---|---|---|---|---|---|---|
| Begin/End Date | ||||||
| Name | Give the period a nice name. Although typically you will be using the code. | |||||
| Code | These codes are typically by month or week. We sometimes see alternating 4/5 week schedules. Generally, it's the smallest accounting bucket that you track. Enter an alpha-numeric code to describe the accounting period. We recommend choosing something that sorts nicely during audits. Some other options might be:
| |||||
| Fiscal Qtr Code | Make sure your codes sort "alphabetically" | |||||
| Fiscal Yr Code | Make sure your codes sort "alphabetically" | |||||
| Time | Can time cards be submitted for this date range? | |||||
| Cost | Can expenses be submitted for this date range? This includes expense reports, vendor invoices, and soft costs. | |||||
| Adjmt | Can time/expense amounts be adjusted via Pre-Invoicing Adjustments or Invoice Time Adjustments or Invoice Cost Adjustments | |||||
| GL Trans | Group GL transactions together. The accounting period is determined by the time card's work date or the cost card's incurred date. | |||||
| AR Trans | AR transactions are generated when you issue an invoice. The accounting period is determined by the invoice's Issue Date as defined on the Invoice Editor MP - Invoice Tab. | |||||
| AP Trans | AP transactions are generated when you approve an expense. The accounting period is determined by the payment voucher's Issue Date. |
...