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Project Level Setup

The Accounting tab of the Project record (Project Profile > Accounting tab) includes the following items to be set up:

  1. Billing Type
  2. Posting Group: The Posting Group assigned to the project provides the logic used to determine the accounts and financial organizations values for transactions created by the Billing & Revenue Post, Invoice Completion, Labor Cost Post and the Expense Report Cost Post.   
  3. Cost Structure: Associate the project with a cost structure that contains the indirect rates applied to that project for calculating indirect costs in the Project Costing Reports and for creating Revenue and Billing information for projects with a Billing Type of CP.
  4. Fee(s): Select which calculation method to use for that project, whether to apply a factor or a fixed amount.
    1. Calculation Method
    2. Factor Type
    3. Factor
    4. Fixed Fee Amount
  5. Project Total and Funded Values are entered here for comparison with actuals.
  6. Billing and Revenue caps provide the ability to limit billing and revenue to the funded value less the fixed fee amount.

The Accounts link (left menu) on the Project defines where to send items such as accounts receivable and revenue on the general ledger.

On the Budget tab (Project Profile > Budget tab) values for Burdened Labor Cost and Burdened Expense Cost can be entered. These fields would hold budgeted values over the life of the project, and are used in various reports. They can also be selected in the Cost Report setup for comparison with actuals. The intended usage of the fields is as follows:

  1. Burdened Labor Cost: Total labor costs including burdens (e.g., Fringe, Overhead, and G&A).
  2. Burdened Expense Cost: Total ODC costs including burdens (e.g., G&A).
  3. Burdened budget and funded values can also be entered at the task level and used in certain reports.

Person Level Setup

The Rates tab (Project Profile > Rates tab) of the Person record includes the following items to be set up:

  1. Labor Cost Element: Define which Cost Element an end user should default to for proper allocation of costs. Examples include Direct Labor versus Subcontractor Labor. However, these costs are tracked at the project level. In order to reflect the correct classification of labor costs for proper cost allocation, the Labor Cost Element can be overwritten at the assignment level if needed. An example would be if a person's default Labor Cost Element is Direct Onsite Labor but they are assigned to work offsite on a project (i.e., Direct Offsite Labor).
  2. Bill Rate: This can be the person's default bill rate. However, it can also be defined at the master Labor Category level as well as the project assignment level.
  3. Cost Rate: This is the person's default cost rate but can also be overridden at the assignment level.

    The Accounts link (left menu) on the Person record defines where to send items such as Labor Cost and Revenue on the general ledger.

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