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Hi experts,
I want to understand what exactly the project expense journal in AX is(Functional behavior), how can we relate it to real examples, or what could be a good examples of creating/using it.
Any response is appreciated,
Thanks!
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Hi Fatih Kartal,
Can you create a new thread please and provide some additional details of your setup and what your accounting guys want to have?
Many thanks,
Ludwig
Hello Ludwig,
I am looking for , if i can use pending vendor invoices for project expenses.
I understod from your reply that is possible. Please tell me doing how.
I want to make the accounting guys only use pending vendor invoices form for any type of ap vendor invoices. But for project integration i was stucked. Thanks in advance
Hi Sangram Shinde,
Just a short addition to what Zvika excellently described.
The expense journals, GL journals or AP invoice journals that you can use for project expenses suffer from one shortcoming. The shortcoming is that these journals do not allow you to see the costs on the project before the invoice is posted.
As an example, you record an invoice that is going through a workflow that takes 1 week until the invoice is approved and posted. For this 1 week you cannot see the expense on your project.
If you use the pending vendor invoice form you can also record project expenses. Yet, a major advantage is that transactions that are recorded in the pending vendor invoice form can already be identified as committed costs at the project level even if the invoice is not posted.
Best regards,
Ludwig
Project expense is used to record a project transaction of type "expense", where the offset (credit) is typically posted to a ledger account.
This is to differentiate from recording a project expense transaction using an AP invoice journal or a vendor invoice, where the offset (credit) is going to a vendor account/to payables.
Real life example:
When an organization has previously incurred expenses not through an invoice, and want to allocate them partially/in full/partially to a project an expense journal can be used.
Specific example can be payroll expenses.
Another example would be when at the time of the invoice, the future project allocation has not been determined yet. In such case, first an AP invoice would book the expense into a "clearing" account, and later one when it is determined to which project(s) to allocate the expense, an expense journal can be used to transfer that cost into a project.
Important to note that the general journal form can be used to record an expense journal by selecting account type = project, and the GL impact is identical to the impact of using the project module's expense journal form.
,not through a trade (AP invoice), and wanting to apply some/all of the expense to a project.
Common example of that would be a portion of payroll expenses, portion of utilities paid,
Sangram,
There are 4 types of Journals in Project Mgmt. module:
Hour Journal is in our Project plan we have assigned lets say 4 hours of a recourse everyday for a week, and then the recourse log this hours and at the end we charge it to client.
Item journal is let's say we bought a machine for a client, now we need to charge so Item hournal will be used.
Fee Journal is just a revenue, in this case we do not have any expense. Lets say you join a gym and you pay monthly fee, but the admission fee will go in this category.
Expense Journal is like travelling, late sitting meal etc goes in this category. It can be created through project module, or expense magmt etc.
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