Thursday, April 5, 2012

Guidelines for processing Project Billing

Please proceed in the below sequence and create transactions in Project Accounting.

1) Project Type ( Contract)


2) Project Template


3) Create Project


4) Create Agreement


5) Do Funding


6) Create Cost Budget


7) Create Revenue Budget


8) Create below preapproved expenses..


A) Misc Cost Transactions --- distribute and Interface to GL


B) Labor Cost Transactions -- distribute and Interface to GL


C) Useage Cost Transactions -- distribute and Interface to GL


9) Create Events for Revenue and Invoice --- Distribution Rule should be EVENT/EVENT


10) Generate and Interface Revenue to GL


11) Generate and Interface Invoice to Receivables


12) Create Customer Invoice in Receivables


13) Distribution Rule -- WORK / WORK -- For the already created expenditures run the revenue generation and Invoice creation process.


14) Generate and Interface Revenue to GL


15) Generate and Interface Invoice to Receivables


16) Create Customer Invoice in Receivables


17) Distribution Rule -- COST / COST


18) Generate and Interface Revenue to GL


19) Generate and Interface Invoice to Receivables


20) Create Customer Invoice in Receivables

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