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In our AX 2012 R3 CU9 environment we enter project accruals through general journal entries. Meaning the general journal entry is dated for the last date of the month and will reverse in the first date of the next month. We are also selecting the 'Account type' of 'Project' so we can post to both the ledger and project:
The problem we are running into is when you are selecting a category, you can only select a type of 'Expense'. We tried to get around this by creating an expense category type called 'Accrual' and the postings will post to an accrual account. The problem is, the accrual is supposed to be for 'Hour' instead of 'Expense' so when a project statement is run it will overstate our 'Expenses' and understate our 'Hour':
I know the hour journal is a possibility, but it is not user friendly and we have a project upload that works with the General Journals. It would make more sense to have the finance users enter everything in one place rather than switching through all different journal types.
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Hi Ludwig,
To clarify this is to accrue for cost, not revenue. We use the line level approval where each line usually has a different approver. Timesheets do not have line level approval like the expense module, all lines must be approved before the timesheet can have any financial postings.
If at month end there is a timesheet with 2 lines, line A has been approved but line B has not been approved yet. This could be because the second approver hasn't approved yet, line is rejected, etc. This means the header of the timesheet will be 'In review' and no financial postings have happened. In this case Finance will accrue all of time cost against the project so their cost is not understated. That entry will reverse in the next period and the timesheet will be posted in the next period (hopefully).
If there was a line level posting we would not have this problem with cost being understated after a line is approved.
Hi,
In GL journals you can post project expenses only as you are currently doing with your 'workaround' and the accrual expense category.
Can you spend some time and describe why you post this kind of accrual?
What is the nature of this transaction and why don't you use the existing standard project accrual functionalities?
Many thanks,
Ludwig
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