Project Accounting overheads

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Posted on by Romryan

Hi all,

How does one capture and bill the overhead costs.I have a Fixed fee project cost to cost is the accounting method, I have captured all the costs which are solely time sheets but the project percentage completion is 92%. Its not 100% because of the overheads that were added to costs. How do I make it 100% complete? How do I bill that overhead costs?.

Kindly assists

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Microsoft Dynamics GP

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Romryan on at

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Any suggestion guys?

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Isaac Olson on at

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Hello,

There are a few factors that I could see coming into play here.

1. What Profit Type did you use on this budget for your Timesheets?

2. If you go to your budget (Project > Cards > Project > Enter or select a project > Budget button > select the Cost Category on the list and click the blue arrow button. Do your Actual total costs match your baseline/forecasted amounts for your budget (including your overhead? If not, then you would still need to post Timesheets so that your (Actual Unit Costs * Actual Quantity) + Actual Overhead are equal to the total costs that you budgeted.

3. You can check in the Billing Entry window, whether there is anything left out there yet to be billed (Project > Transactions > Billing > Billing Entry) on this project.

4. If you are short on step 3 still, that means you need to key in more transactions to get your costs up. If you are short on your units, and are using a fixed profit per unit, then you need to make sure you post as many units as you budgeted and bill them.

I hope these items help, with how many potential setups there can be in project accounting it is not always simple to address questions such as this through a forums post. Opening a case with Microsoft would allow us to stream in and see your exact scenario and potentially give you a better explanation as well. Otherwise you can also leave this open to the community to take a look at.

Thanks,

Isaac Olson

Microsoft Support

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Romryan on at

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Isaac,

Thanks for the reply.

My profit type is PUFix (profit per unit fixed).

I have posted all my timesheets i.e. baseline costs=Forecast Costs=Actual Costs

I have also billed everything.

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Isaac Olson on at

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Hello,

I am not able to recreate what you are seeing. When I added 10% Overhead to my budget and to my employee, posted my timesheets for them, and billed them and the budget was completed 100%.

Is it possible that you didn't put any overhead on your timesheets when you posted them originally? If everything is set up properly, the overhead should have posted with the timesheets to start with, it wouldn't be a separate process, and you should see your overhead on your actuals filled in like below.

If that is not the case, then you may have to reverse your timesheets, correct your setup to make sure that your overhead is set up to be calculated in your costs on the timesheet, then repost them.

If you need further assistance or if this is not the issue, then you will need to open a support ticket so we can work with you directly to troubleshoot further.

Thanks,

Isaac Olson

Microsoft Support

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Romryan on at

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Thank you Isaac Olson. I had not added the % overhead to my employee. It was only on Cost Category. After adding it asper your suggestion, it worked like a charm.

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