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.
Project Name: The string is 50 characters long. Indicates the name or the description of the project definition.
Aux. Code: A code field of 10 characters used to group project definitions. Alphanumeric characters can be used for coding. The aux. code allows the user to classify projects by company specific criteria.
Authorization Code: Used to define authorizations for each record. The string is 10 characters long. Each user may be authorized to use different records depending on the job definitions. Planning must be the first step in order to define authorizations by record. First, records to be accessed by each user or user group should be specified. Then, separate authorization codes are assigned to records accessible by each authorization group. Records are encrypted according to the information provided on the auth. code field so that only the users who log in with the specified authorization code can access and process the records.
Status: The field used to indicate whether or not the defined projects will be used in transactions. This field has two options: Active and Passive
Start / End Dates: Indicates the project start and end dates.
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.