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General options for all projects can be selected on the Administration > Settings > Project Costing form.
Select the Enable Project Tasks option to be able to create project tasks and track task completing.
For more detailed planning, select the Enable Project Estimates by period option – then you can create project estimates by month and compare to actual data by month..
You can select the default method of project estimate calculation from the following options:
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- On Purchase: To calculate material costs when the items are received to warehouses according to Invoices Received and Employee Business Reports.
- On Usage: To calculate material costs only when the items are issued from warehouses according to Inventory Issues and Invoices.
Select the Enable Project Tasks option to be able to create project tasks and track tasks completing.
For more detailed planning, select the Enable Project Estimates by Period option – then you can create project estimates by month and compare to actual data by month.
The Show Project Information in Document Printable Templates and Show Project Task Information in Document Printable Templates options include projects and project tasks into document templates so that information on projects and tasks will be printed along with other information.
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For details on creating projects, see Projects.
Adding Project Tasks
If project tasks are enabled, you can add tasks to the project by using the Project Costing > Master Data > Project Tasks form. For a task, you need to specify the project, planned dates of start and finish, and the employees responsible for task execution. Also, you can indicate the order of task execution by specifying a predecessor for a task or you can group multiple tasks by specifying a parent task. For more details, refer to Project Tasks.
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First of all, you need to understand which of the two available methods of estimate calculation is good for the project. You can use the default method or change it for another by clicking the Settings button on the toolbar. The Document Settings dialog box appears, and you can select the method you need.
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You can enter cost estimates with different levels of details for different projects. You can use the following levels of details (analytics parameters):
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- Cost Element (Employee standing for the associated labor costs; Items, such as materials, stock items, or services, and Fixed Assets standing for related depreciation costs in case you need to use special equipment, devices, vehicles for the project)
- Project Task
- Company
- Business Activity
- Department
You can provide the cost estimates for each applicable combination of these details. You can select these analytical parameters by clicking the Settings button.
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For revenue estimates, you can use the following levels of details (analytics parameters): Departments, Business Activities, Income Items, Items.
- Item
- Project Task
- Income Item
- Business Activity
- Department
You can provide a revenue estimate for each applicable combination of these details.
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- The Revenues table is intended for the revenue estimates (or planned revenue amounts). First, to define the kind of revenue, you need to select analytical parameters. The estimates for each kind of revenue are calculated based on costs and markups.
- The Costs table lists the planned direct costs for each of the revenue kinds.
For each each revenue (defined by a specific set of analytical parameters), you can specify direct costs and provide the cost estimates. Then on the Overhead tab, you can list the estimates for various overheads and allocate them to proportionally to costs. Alternatively, later you can allocate overheads to costs but proportionally to the calculated revenue estimates.
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If the Estimates By Period option is selected for the project, you can specify how the costs and revenues are distributed within the defined project duration. For this, you can select the appropriate planning period: Week, Month, Quarter, Half Year, or Year. Then, you can split all the costs, overheads, revenues evenly by period or only the selected amounts evenly by period. Also, you can distribute the costs. overheads, and revenues manually, so that the each total amount is equal to the sum of corresponding period's amounts.
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Once a project is created and executed, any document related to the project can be linked to this project. For accurate tracking of actual costs, you need to correctly specify the analytical parameters.
Note. If you need to specify multiple projects in a document—link different items to different projects—you can move the Project field from the document heading (the Main tab) to the list of items or services (the Inventory and Services tabs) by using the Settings button on the form toolbar.
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For more information, refer to Project Costing: reportsReports.