The following is an overview of how and where the account is applied and what parameter setup is required.
Account
type
Balance
Availability
|
License code |
Configuration code |
|---|---|
|
Project II |
Work in process |
How the
account is applied
|
Transaction type |
Project type |
Statement type |
|---|---|---|
|
|
|
|
Parameter
dependencies
-
Project group- For fixed-price projects, the matching principle must be set to , and the assessment principle must be set to .
For time and material projects, revenue must be accrued on posting of fee, hour, item, and expense transactions.
-
Line property- For time and material projects, the check box must be selected on the tab.
Actions and
effects
|
Action |
What happens |
|---|---|
|
Post journal |
The account is debited on time and material projects if revenue is set to be accrued on the project group and the check box is selected on the line property. |
|
Invoicing |
The account is credited if accrued revenue exists on the transaction. |
|
Post estimate |
Fixed-price projects with the completed percentage assessment principle: The account is debited with a fee transaction created when an estimate is posted. |
|
Reverse estimate |
Fixed-price projects with the completed percentage assessment principle: When the reversed estimate is posted, the account is credited on the reversed fee transaction. |
|
Elimination |
Fixed-price projects with the completed percentage assessment principle: When the elimination is posted, the account is credited on the original fee transaction. |
|
Reverse elimination |
Fixed-price projects with the completed percentage assessment principle: When the reversed elimination is posted the account is debited on the reversed fee transaction. |
