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In Project Accounting, what is the difference between expense journal and invoice proposal?
when the expense journals are posted, the customer/vendor balance is updated, so why do we have to post the invoice proposal is any other ledger accounts get updated?
because our requirement is that the vendor balances are to be updated only when invoice journals are posted and not when expense journal is posted.
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Hi Naveen,
Yes, at time of posting the invoice proposal related GL entries are created and also a customer transaction (and some tables are updated to be able to store the contents of the postings and the invoice).
Thanks André Arnaud de Calavon for clearing my doubts.
In projects we have journals (item, hour, begining balance, expense) these are used for posting Project transactions (right?). After posting this project expense journal the P&L accounts are updated. Now nest step is to invoice these transactions, so we use project invoice proposal, we will select the project in the dropdown and all the project transactions will appear in the form, we will select the needed transactions and post the invoice proposal. then the status changes to 'fully invoice' now this transaction (posting of invoice proposal) will hit any GL accounts?
Hi Naveen,
Your post is very confusing. The title is about invoice proposal, the contents is about costs. You are talking about both customers and vendors. So, I'm a bit lost, but will try to help you.
The invoice proposal is used to collect chargeable project transactions like hours and expenses to the customers (outbound invoices).
The expense journal is usually used to register project costs. This can be internal consumption or acquired from a vendor. This is about incoming costs. You are also mentioning invoice journals. The expense journal and invoice journals in Accounts Payable are using the same tables for registering and posting. So you can use an invoice journal to post incoming expenses on projects or the project expense journal. Not both for the same document.
If you still have your question, please try to rephrase it.
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