Solved

Project Transactions not posting back to General Ledger

  • 19 April 2023
  • 9 replies
  • 330 views
R
Rank
Userlevel 2

We’re working with a consulting to bring Acumatica online at the mid point of a project.  The current task at hand is to entry opening balances for the project.  My original process was going to be to post a single journal entry at the cutover date for the balances per cost code.  The consultant said this should be done as a “project management” transaction rather than as a GL entry.  But, my testing shows that PM transactions don’t flow back to the general ledger.  Consequently I have project reports that don’t agree to my financial reports.  

Have I missed a step or has my consultant led me astray?

Also, what kind of entries do people originate as Project Transaction?  The entire entry screen made my poor little accountant-heart feel uncomfortable.  It seemed like entries didn’t need to balance and that they could hit mutiple periods.

Thanks in advance.

icon

Best answer by Laura02 19 April 2023, 23:26

View original

9 replies

Heidi Dempsey
Rank
Userlevel 7
Badge +2

We have a Knowledge base article for importing progress billing step by step 

You will need to be logged in to see the guide.  Hope this helps

R
Rank
Userlevel 2

We have a Knowledge base article for importing progress billing step by step 

You will need to be logged in to see the guide.  Hope this helps

This does help.  I’m shocked that our consultant didn’t point us down this path.

Do you have any insight into my more basic question about what Project Management transactions are and what they would be used for?

Laura02
Rank
Badge +18

Hello @RHarrison ,

Project Management transactions post to GL if project Migration Mode is off and Debit and Credit  Account & Subaccount are populated on the PM Transaction.

I think it’s rare after Go Live to need the PM Transactions screen for data entry, though it’s possible you might need it. Suppose an incorrect task was used on an AP Bill but the vendor was correctly paid and a correct GL account was used… in this case we might use PM Transaction screen adjust up one task and adjust down another as an easy method of correcting only the project balances. 

In order to know whether your PM entries should or should not post to GL for your migrated partially-finished project, we need to know whether the amounts that you are initializing to the partially-finished migrated project were already entered to the GL accounts when GL Balances were migrated. You don’t want to duplicate amounts if they’re already included in GL.  

It’s common to migrate GL balances via GL Journal Transactions or Trial Balance import with no projects, followed by project balances via PM Transactions screen with no GL accounts.  GL reports from Acumatica should tie to prior system’s GL reports  and Acumatica Project reports should tie to prior system’s project reports. 

 

 

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
iqraharrison48
Rank
Userlevel 7
Badge +6

@RHarrison hi! so i’ve used project transactions to load historical data (costs/revenue) that will update the project balances at go live.  the financial data is done via the GL import but that import doesn’t update the projects.  As @Laura02  stated, both the debit and the credit need to be entered in order to make a financial impact.  

i’ve used project transactions to record project related transactions only, i.e. overhead that doesn’t need to be reallocated on the GL but the projects would like to see overhead costs.  i’ve also used project transactions to help with some limitations with manufacturing.  

i hope this helps!

 

Iqra ~ If a member helped you, please *Like* their post. If a member provided an answer to your question, please mark it as *Best Answer*.
W
Rank
Userlevel 2

@Laura02 I have project transactions that are also not hitting the gl.  I made sure that debit and credit accounts were selected on the Project Transaction.  Upon Project Transaction release I can see the $ on the projects but no gl impact and no gl batch created.  I do not see a Project Migration mode available so I’m not sure what you mean by Project migration mode.  I know what migration mode is in Fixed Assets and other areas but not in Projects.

 

Thanks

Heidi Dempsey
Rank
Userlevel 7
Badge +2

@WoodyGilbert  I see you entered case #322947.  When entering a PM transaction the debit and credit need to be on the same line unlike a GL transaction.  https://help.acumatica.com/(W(1))/Help?ScreenId=ShowWiki&pageid=ac5ef55a-1863-4a8b-ac25-6b22618a71ba

W
Rank
Userlevel 2

@Heidi Dempsey - thanks Heidi - yes I entered the case but was trying my hardest to get this figured out.  I’m trying to move cost from 1 project to another (and hit the gl).  I’m crediting cost on the first project and debiting inventory on another project.  With a Project Transaction I can only have 1 project per line.  (scratching my head…….. what do you recommend?)

 

Thanks so much!

 

Woody

Heidi Dempsey
Rank
Userlevel 7
Badge +2

@WoodyGilbert  Create the GL entry and it will go to the project correctly.   

W
Rank
Userlevel 2

@Heidi Dempsey - thanks and it worked.  I was hoping you could do this on a Project Transaction screen (just from a role issue we’re having and not wanting too many people entering JE), but I guess it’s really the same anyways.  Nonetheless, your way worked and we really appreciate you!

 

 

Reply


Terms & ConditionsCookie settings
About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved