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Project Category Fee via General Journal

  • 1.  Project Category Fee via General Journal

    Posted May 18, 2020 09:29 PM
    Hello Team,

    We are trying to find a way if it is possible to record income transactions (fee) for projects via General journal.

    After investigating, I believe it might be possible but when I select Account Type "Project" under the General Journal, and navigate my way through to Projects options, I have noticed that the "Category" option is only picking up expense categories. This is because "Transaction Type" is selected as expense and all other options are greyed out.

    Hence, I was trying to figure out if any one here knows how to unlock this setting to enable other categories as well.

    Below screenshot for reference.

    • Modules > General Journal > Journal Entries > General Journal

    Project Category


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    Sharneel Shankar
    GEOCON Group Pty Ltd
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: Project Category Fee via General Journal

    TOP CONTRIBUTOR
    Posted May 19, 2020 02:07 AM
    From a General journal (and AP invoice journal) account type "Project" is only meant to create/record COST into a project, and more specifically, create a project transaction type EXPENSE, and record cost.

    ALL recording of a SALES (revenue) on a project, for ANY transaction types, happens through creating a project invoice in the project module (Project Invoice Proposal).

    conceptually it does not really make sense to record "revenue" into a project without creating a project customer invoice.

    What is the business scenario you are trying to accomodate?

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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: Project Category Fee via General Journal

    Posted May 19, 2020 02:51 AM
    Hi Zvika,

    We are trying to record revenue for rental income, for rental properties differentiated by projects.

    The actual invoicing is done through a different department and we normally get a statement which breaks down income and expenses.

    Currently we are recording AR invoices for revenue and general journal for expenses. The net affects the bank and GST.

    We are not worried about the customer and the vendor side of the transactions as this is recorded by individual departments.

    Hence we are trying to find a quicker way of processing this transaction to get the income and expense though to the projects.

    Can you please  advise if there is an alternative for this process?

    Thanks

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    Sharneel Shankar
    GEOCON Group Pty Ltd
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    Academy - Online Interactive Learning from Experts


  • 4.  RE: Project Category Fee via General Journal

    Posted May 19, 2020 07:36 AM
    Why not just use a fee journal?

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    Ben Morgan
    M3 Engineering & Technology Corp
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    Academy - Online Interactive Learning from Experts


  • 5.  RE: Project Category Fee via General Journal

    TOP CONTRIBUTOR
    Posted May 19, 2020 11:34 AM
    I agree with Ben that the most straight forward way would be to create Fee journals and project-invoice that fee.

    To avoid having customer balances you can use a "fake" customer.
    This gives you the opportunity to record GST as well (you didn't specify what country BTW)

    If you REALLY want to avoid invoicing fee journals, you can bastardize the project module a bit and set Fee Journals to accrue revenue, but never invoice them.
    but I can't see how you can record GST at the same time.


    ------------------------------
    Zvika Rimalt
    Functional Consultant
    Vancouver BC
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 6.  RE: Project Category Fee via General Journal

    Posted May 19, 2020 12:09 PM
    I have a "similar but different" question that I hoped someone would shed some light on in this thread..we are on AX2009 and found Ledger Categories very useful in subanalyzing expenses in, for example, our Warranty area so that we can subanalyze the Warranty expense in General Ledger as to (1) Project Cost: (2)  Mfc Claim: (3)  Settlement by Unit(Financial Dimension) by tying Items to Ledger Categories to GL acct.....but find they can not be used to subanalyze Revenue.    Scenario 1:  we transport units and use the Ledger Category tied to the Item used in purchasing to identify if the Transport is because the unit was sold, or a demo, or an internal move to another location etc.   I would love to subanalyze the revenue billed (without setting up separate General Ledger accounts)  as to whether we (1) transported with our own vehicle, or (2) hired transport or (3) provided free of charge (for tracking purposes).     Any ideas appreciated as to capabilities for this in any AX version..

    Bridget Duncan

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    Bridget Duncan
    Treasurer
    Kelly Tractor Co.
    Miami FL
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    Academy - Online Interactive Learning from Experts


  • 7.  RE: Project Category Fee via General Journal

    TOP CONTRIBUTOR
    Posted May 19, 2020 12:41 PM
    I am not familiar with functionality called "Ledger Category" in AX2009 or later version.
    Maybe a screenshot / menu path?

    To your general question, and it seems like you are NOT using the project module, what you're looking for (categorizing different kind of revenue without creating a new ledger account) is something done through the creation of financial dimension and enabling it to the ledger account.

    On another note, since this is a thread about the project module, and your questions SEEMS to be not related to the project module at all, you are missing a lot of potential readers by posting on this thread, since many accounting people would not even read a thread about project accounting. so you may want to consider opening another thread.

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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
    ------------------------------

    Academy - Online Interactive Learning from Experts


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