Project Costs Allocation: New Reallocation Schema

Scope: FirstBIT Contracting 2.1.1.35 and later

Use New Income & Expenses Reallocation Schema

Starting from FirstBIT Contracting 2.1.1.35, new Project Costs Allocation documents use the Use New Income & Expenses Reallocation Schema option.

The option is enabled automatically when a new Project Costs Allocation document is created and cannot be changed manually.

The new reallocation schema changes the accounting result of the Project Costs Allocation document. When the document is posted, the allocated income and expenses are reflected in both:

• Income and Expenses by Projects
• Income and Expenses

The Income and Expenses by Projects register provides project-related information, while Income and Expenses contains the corresponding income and expense data for the general accounting analysis.

Note: Project Costs Allocation documents created before the new schema was introduced may have the option disabled and use the previous reallocation scheme.

Allocation of Labor Cost based on Payroll Calculation

For the Allocation of Labor Cost operation, the labor costs to be allocated are based on a Payroll Calculation document.

To create a labor cost allocation:

1. Create a new Project Costs Allocation document.
2. Select Allocation of Labor Cost as the operation type.
3. Select the required Payroll Calculation document in the Basis field.
4. Click Fill by Basis.

The system retrieves the relevant data from the Payroll Calculation document and fills the Project Costs Allocation document.

Recognised by Time Cards

When Fill by Basis is used for an Allocation of Labor Cost, the system fills the Recognised by Time Cards tab with the Time Cards related to the labor costs being allocated.

The tab contains the information used to recognise the labor costs based on the recorded working time, including:

• Time Card
• Quantity — the amount of time recorded in the Time Card
• Amount — the corresponding labor cost amount
• Reverse — indicates that the corresponding amount should be reversed.

The Amount is filled automatically based on the data available for the selected basis document.

Users can select the Reverse checkbox for the required Time Card lines. When a line is marked as Reverse, the corresponding amount is reflected with a negative sign in the Income and Expenses by Projects accumulation register.

The Amount is filled automatically based on the data available for the selected basis document. Users do not need to enter the amount manually in the standard scenario.

The resulting data can then be used to distribute the labor costs between the relevant projects according to the Time Card information.

Accounting result

After posting the Project Costs Allocation document, the allocated labor costs are reflected according to the new reallocation scheme.

For new Project Costs Allocation documents in FirstBIT Contracting 2.1.1.35 and later, the posting includes movements in:

• Income and Expenses by Projects
• Income and Expenses

This allows the allocated labor costs to be reflected both in project-related accounting and in the general income and expense data.

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