Setting up Project Cost/Revenue Elements—Exercises

Basic Data Setup

Chart of Accounts

Purpose: The purpose of this exercise is to show you how to enter additional accounts for your project company.

Windows:
Account

  1. For your project company, create a new account to which you can later connect a project cost/revenue element.
  2. Save your changes.

General exercise for Chart of Accounts

Main Exercise

Purpose: The purpose of these exercises is to show you how to define project cost elements and how to connect project cost elements to accounts.

Windows:
Project Cost/Revenue Elements
Project Cost/Revenue Element per Code Part Value

Defining Project Cost/Revenue Elements

  1. Open the Project Cost/Revenue Elements window and click New (F5) to create a new record.
  2. In the Project Cost/Revenue Element field, enter a value for a project cost/revenue element that you want to define for the company.
  3. Enter a description for the project cost/revenue element in the Project Cost/Revenue Element Description field.
  4. Optionally select the Default check box for one cost element and one revenue element. Project costs and revenues will be reported to the relevant default cost/revenue element in case the derived code part is not mapped to a cost/revenue element or in case no account can be derived from the accounting rules.
  5. In the Element Type field select a value from the list to indicate whether the element is to be used for cost or revenue follow-up.
  6. Save the record.

Note: You can block a project cost/revenue element from use by selecting the Blocked for Use check box when the cost/revenue element is no longer required. However the project cost/revenue element cannot be connected to a code part value if it is to be blocked for use.

Connecting Project Cost/Revenue Elements to Code Part Values

  1. Open the Project Cost/Revenue Element per Code Part Value window.
  2. Query for the code part for which you want to add or modify the connected project cost/revenue element.
  3. Enter a cost/revenue element in the Project Cost/Revenue Element field, or use the List of Values to select one of the company's project cost/revenue elements.
  4. Enter a date in the Valid From field to indicate the date from which the connection between the code part value and the cost/revenue element is valid. The system date will be default.
  5. Save the record.

Note: It is possible to connect the same cost/revenue element to several code part values.