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OK, so I must be missing something basic here but in PSA quotes / contract line items you can include time, expenses, and fees. All good. But how do you record a fee as being paid? Time and expenses are obvious, but fees?
Are we supposed to use a journal entry? If so how does this roll up into project and contract performance? I can see confirmed journals under contract costs but cannot see that reflected anywhere else.
Thanks Antti. We actually stopped trying to use PSA for tracking project financials. We still refer to actuals against a sales order but even then it's got to many gaps and needs too much manual intervention to be a reliable tool. Project Operations, for all it's hype, doesn't seem to address these sorts of gaps and is introducing a new set of challenges (migration etc.) that make me wonder if we'll ever actually use it.
It seems this thread is for some reason missing my original reply. A couple of short points:
- Fee doesn't have a Cost Actual created with it.
- As PSA doesn't support subcontracting, the options are to either log incurred cost as a Journal entry like Alister has considered or by using expense entries.
Project Operations will support subcontracting in future releases where these scenarios are supported.
Hi Antti
Thanks for the reply. I actually have that side of things sorted, the question is what to do with costs from subcontractors which are not represented in booked hours but as a invoice. When they send us an invoice we need to record that as a cost on the contract otherwise the whole solution is frankly of limited value.
As far as I can see journals are the only mechanism provided to do that. I can test on our sandbox but I was hoping others have come across this and can share experiences.
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