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Managing Projects with xTuple |
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Managing Projects with xTuple |
| 1.1. Supported Account Mappings | ||
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 | 1. Virtual G/L Accounts |  |
Transactions flowing from project-related sales orders, purchase orders, and work orders are generally supported by project accounting. The phrase are supported means many of the G/L accounts in these transactions will be automatically appended with the project segment.
The following list shows by category which transaction accounts will have the project segment added to them—assuming, of course, their parent documents are specifically linked to a project:
Manual adjustments by project to any G/L account
Issue to shipping (credit shipping asset)
Return stock (debit shipping asset)
Shipment (debit shipping asset / credit cost of sales)
Recall shipment (debit cost of sales / credit shipping asset)
Post invoice (credit revenue, credit freight revenue)
Post receipt (debit cost of returns or cost of warranty)
Post (debit revenue / debit cost of sales where applicable)
Post receipt (debit or credit purchase variance)
Post receipt (debit expense, where applicable)
Post receipt (debit freight expense)
Correct receipt (debit or credit expense, where applicable)
Post P/O return (credit expense, where applicable)
Post voucher (debit or credit purchase variance)
Post T&E expense voucher (debit reference item account)
Issue material (debit WIP)
Post operations (credit labor and overhead / debit WIP)
Post production (credit WIP, debit cost element expense, if applicable)
Return material (credit WIP)
Correct post operations (debit labor and overhead / credit WIP)
Correct post production (debit WIP)
Scrap material (credit WIP / debit scrap account)
Close work order (credit WIP)
Post time (debit reference item account)
Post expense voucher (debit reference item account)
Expense item quantity (debit project-related expense account)
While the list above shows transactions where project mapping automatically occurs, not all G/L accounts will automatically inherit the project segment. Simple and series journal entries are an exception, of course, since they have the flexibility to post transactions appending the project segment to any account in the chart of accounts.
As a general rule of thumb, the following accounts will not automatically inherit the project segment. Instead, their activity will roll up into the larger company financials:
No project segment
No project segment
No project segment—unless evaluating work in process (WIP) values or posting an expense transaction by project. As a general rule, project accounting tracks non-inventory items (i.e., reference or job items). The tracking of inventory value rolls up into the general company financials.
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| 1. Virtual G/L Accounts |  | 2. Sample Business Flows |