Project records are used to distribute transactions of any account into overhead pools in certain periods according to predefined rules. The distribution connection can be generated using predefined factors or distribution keys identified at period ends. In this way, project costs can be tracked and reported on time.
This Project record consists of two panes. The fields on the upper section are used to record G/L account information, while the fields at the bottom are used for tracking purposes. Results of transactions performed are automatically transferred into this field, and cannot be changed. The fields and functions of the project are:
Project Code: This field can contain up to 16 alphanumeric characters, and can be sorted and searched. Alphanumeric characters can be used for coding.
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Project Manager: The name or the description of the project manager.
The Account Status section of the project is used to display totals resulting from transactions. Data cannot be entered directly or changed on these fields. Project totals are displayed on the Debit, Credit and Balance columns in local currency and foreign currency.