Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 12 · Project Costing: the Accounting Setup
The accounting problem
Lesson 121 of 198 · 2 min
A consultant records eight hours on a project. Which account does the resulting cost hit? NOBODY TYPED ONE. That is the problem this module solves, and it is worth stating that starkly — because every other module in this course has somebody entering something, and this one does not. What the answer has to consider. The expenditure type. The project type. The organization. The project. The transaction source. And whatever else the client's chart of accounts needs. The mechanism: rules that build an account combination from attributes of the transaction. That is what a transaction account definition is. THE HARDEST CONFIGURATION IN THE COURSE — AND ITS FAILURES ARE SILENT. It is rules-based. It is abstract. It depends on the client's chart of accounts. And costs post to the wrong account and look fine until somebody reconciles. Nothing errors. The journal exists, the numbers balance, and the money is in…
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue, with a certificate on completion and a fourteen-day refund window.
In this module: Module 12 · Project Costing: the Accounting Setup
- 1The accounting problem
- 2The project costing details flexfield
- 3Cost collection and the additional segment
- 4Value sets for the flexfield
- 5Transaction account definitions explained
- 6Mapping sets
- 7Building a transaction account definition
- 8Associating the definition to a ledger
- 9Proving the accounting works
- 10What breaks
- 11Lab: a mapping a controller could sign