| Excerpt | ||
|---|---|---|
| ||
map accounting transactions |
| Info |
|---|
Use this tab to map accounting transactions. If Projector is used as the job accounting system and data is fed into the organization's General Ledger or other sub-ledgers (such as Accounts Receivable and Accounts Payable), these fields (along with fields in the Add/Edit Company, Add/Edit Expense Type, and Edit Cost Center forms) are used to map transactions and balances to the proper cost centers and accounts. Transactions associated with time and expenses can be routed to different accounts if necessary, or can be mapped to the same accounts by entering the same account IDs in the proper fields. This tab is also used to split revenue amongst cost centers. |
...
All percentages must add up to exactly 100.00% for each column.
| Column | Description |
|---|---|
| Cost Center | Choose from:
|
| Time Revenue | Revenue earned from time cards |
| Resource Direct Cost | Due to paying resources |
| Subcontractor RDC Expense | Due to paying subcontractors |
| ODC Revenue | Profit earned from marked up expenses |
| ODC Expense | Loss due to company born expenses |
Accounting System Integration Mappings
The following table gives a short description of each account mapping. WIP stands for Work in Progress. It represents revenue you have earned and that you expect your client to reimburse you for.
Account | Description |
|---|---|
Revenue G/L Account | Revenue generated by billable time |
Billing Adjustments G/L Account | Write ups/downs of time cards, revalue |
Revenue Recognition Adj. G/L Account | Revenue recognition adjustments are created when actual and projected contract revenues don't match |
Time WIP G/L Account | The value of approved time that has not yet been invoiced. |
Time WIP A/R Item/Account | Route revenue out of WIP when it is invoiced.
|
| Cost WIP G/L Account | When an expense is approved, if there is a markup, then the amount of that markup |
| Cost WIP A/R Item/Account | Route revenue out of WIP when it is invoiced.
|
Default Mappings
If you encounter an accounting synchronization error for one of the below account names, then it is most likely you have forgotten, or not yet had to, set up account mappings for this engagement type.
Account | Default Time Mapping |
|---|---|
Revenue G/L Account | Revenue (T) |
Billing Adjustments G/L Account | Bill Adj Revenue (T) |
Revenue Recognition Adj. G/L Account | Rev Rec (T) |
Time WIP Progress G/L Account | WIP (T) |
Time WIP Progress A/R Item/Account | WIP (T) Item |
| Cost WIP Progress G/L Account | WIP (C) |
| Cost WIP Progress A/R Item/Account | WIP (C) Item |
To correct the mapping:
- Find the engagement responsible for the error
- Edit the engagement and note the type
- Go to Administration Tab | Job Accounting | Engagement Types
- Edit the noted type
- Go to the Accounting Tab and set the appropriate account mappings
- Reapply mappings to the transaction
- Resync with your accounting package
...