Information about checklist items in the Project Closing Edit List report in Project Accounting in Microsoft Dynamics GP

INTRODUCTION

This article contains information about the checklist items in the Project Closing Edit List report in Project Accounting in Microsoft Dynamics GP and in Microsoft Business Solutions - Great Plains. The report contains the following checklist items: 

• All cost transactions posted 
• All transactions billed; Billings = Project Amount 
• All biller documents applied or written off 
• All retainers applied or refunded 
• All cost of revenues recognized 
• All Purchases received and matched or canceled 
• All revenues recognized; (Earnings = Project Amount) 
• All receivables retentions billed

MORE INFORMATION

The Project Closing Edit List report displays checklist items together with a corresponding message number that indicate why a specific project cannot be closed. 

The check box for each item in the checklist should be selected. A check box that is cleared indicates that the item is not performed or completed, except as indicated in this article. To resolve an issue for a specific checklist item, follow the appropriate procedure for that item. 

~ All cost transactions posted ~
This item verifies that all cost transactions that have been entered have also been posted. If this item check box is cleared, follow these steps: 

1. Open the following inquiry windows to determine which transactions prohibit the closing. 
Note transactions that are unposted prohibit the closing. 

• Timesheet-Detail 
1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Timesheet-Detail
2. Restrict by project. 
3. Click the Unposted option. Then, click Redisplay
 
• Equipment Log-Detail 
1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Equipment Log-Detail
2. Restrict by project. 
3. Click the Unposted option. Then, click Redisplay

• Miscellaneous Log-Detail 
1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Miscellaneous Log-Detail
2. Restrict by project. 
3. Click the Unposted option. Then, click Redisplay

• Employee Expense-Detail 
1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Employee Expense-Detail
2. Restrict by project. 
3. Click the Unposted option. Then, click Redisplay
 
• Inventory Transfer-Detail 
1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Inventory Transfer-Detail .
2. Restrict by project. 
3. Click the Unposted option. Then, click Redisplay

 • Purchases Materials
 1. On the Inquiry menu, point to Project , point to PA Transaction Documents , and then click Purchases Materials
 2. Restrict by project. 
 3. Click the Unposted option. Then, click Redisplay


 2. After you determine which transactions prohibit the closing, open the appropriate batch window or series post. Then, post the transactions. 
Notes 
To open a batch window, click Transactions , and then point to Project

To open a series post, click Transactions , point to Project , and then click Series Post


3. If all cost transactions have been posted, and if this item check box is still cleared, reconcile cost transactions for the customer. To do this, use the appropriate method. 

• Microsoft Dynamics GP 10.0 and higher versions:   On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , click PA Reconcile , and then click Cost Transactions

• Microsoft Dynamics GP 9.0 and earlier versions:   On the Tools menu, point to Utilities , point to Project , click PA Reconcile , and then click Cost Transactions


~All transactions billed; Billings = Project Amount ~
This item verifies that all billing transactions have been posted. If this item check box is cleared, follow these steps: 

1. Follow these steps: 
a. In the Inquiry window, point to Project , point to PA Transaction Documents , and then click Billed Projects
b. Restrict by project. 
c. Click to select the Work check box. Then, click Redisplay

2. After you determine which transactions are not posted, post the transactions in either the Billing Batches window or the Series Posting window. 

Notes 
To open the Billing Batches window, click Transactions , point to Project , point to Billing , and then click Billing Batches

To open the Series Post window, click Transactions , point to Project , and then click Series Post . 

 3. If all billing transactions have been posted, and if this item check box is still cleared, reconcile billing transactions for the customer. To do this, use the appropriate method. 

• Microsoft Dynamics GP 10.0 On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , click PA Reconcile , and then click Billing Transactions

• Microsoft Dynamics GP 9.0 and earlier versions On the Tools menu, point to Utilities , point to Project , click PA Reconcile , and then click Billing Transactions

4. On the Cards menu, point to Project , and then click Project

5. In Project Maintenance, verify that the amount that is in the Billings To Date field is equal to the amount that is in the Project Amount field. If it is necessary, adjust the forecast budget values or the fee amounts to correct the project amount. 


~All biller documents applied or written off~ 
This item verifies that all billing documents have been paid or have been correctly written off. If this item check box is cleared, follow these steps: 

1. Open the Billings and Payments Inquiry window to see which document must be paid or must be written off. To do this, click Inquiry , point to Project , point to PA Transaction Documents , and then click Billings and Payments . 

2. Follow these steps: 
 a. Enter the project number in the Project Number field. 
 b. Click Redisplay
 c. Select each billing document. Make sure that the amount in the Amount Due field at the bottom of the window is $0 (zero). Also, make sure that the correct payment information populates the Payments area. 

 3. Verify that the user has access to the alternate window for applying sales documents. To do this, use the appropriate method. 

• Microsoft Dynamics GP 10.0 
 1. On the Microsoft Dynamics GP menu, point to Tools , point to Setup , point to System , and then click Alternate Modified Forms and Reports
 2. In the ID field, type the user ID. 
 3. In the Product list, click Project Accounting
 4. In the Type list, click Windows . 
 5. Expand the Sales node, expand the Apply Sales Documents node, and then click Project Accounting . 

• Advanced Security in Microsoft Dynamics GP 9.0 or in earlier versions 
 1. On the Tools menu, point to Setup , point to System , and then click Advanced Security
 2. Select View , and then click by Alternate, Modified and Custom . 
 3. Expand the following nodes: 
   • Project Accounting 
   • Forms • Sales 
   • Apply Sales Documents 
  4. Click Project Accounting

• Standard security in Microsoft Dynamics GP 9.0 or in earlier versions 
 1. On the Tools menu, point to Setup , point to System , and then click Security
 2. In the User ID list, click the user ID. 
 3. In the Product list, click Project Accounting
 4. In the Type list, click Alternate Dynamics GP Windows
 5. In the Series list, click Sales
 6. Click to select Apply Sales Documents


4. Open the Apply Sales Documents window. To do this, on the Transactions menu, point to Sales , and then click Apply Sales Documents . 

5. Apply or write off the documents from step 2 that you determined were not applied correctly or were written off. 

6. If all transactions have been applied, and if the checklist item is still cleared, reconcile cash apply for the customer. To do this, use the appropriate method. 

• Microsoft Dynamics GP 10.0:  On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , click Project , point to PA Reconcile , and then click Cash Apply

• Microsoft Dynamics GP 9.0 or an earlier version:  On the Tools menu, point to Utilities , point to Project , click PA Reconcile , and then click Cash Apply . 

Note If any billing transactions for this project were updated from Microsoft Business Solutions - Great Plains 5.5 or an earlier version, this checklist item will never be selected. Older program versions did not maintain apply records. Therefore, those programs cannot determine whether all documents have been applied or have been written off. For more information about how to close project without following the closing procedure, click the following article number to view the article in the Microsoft Knowledge Base: 

855401 How to close a project without doing the closing procedure 

Note Consider the following scenario. Project Accounting shows that the document is not applied. However, Receivables Management shows that the document is applied. In this scanario, the user who applied the payment to the invoice in Receivables Management did not have the required access to the alternate window. To correct these documents, you must unapply the document and then reapply the document in Receivables Management. To follow this step, you must have access to the required windows to update the Project Accounting apply information. 


~All retainers applied or refunded~ 
This item verifies that the retainer either has been applied to invoices or has been refunded to the customer. If this item check box is cleared, follow these steps: 

 1. In the Project Maintenance window, verify the On Account amount. 
 2. On the Cards menu, point to Project , and then click Project
 3. Select the project. 
 4. If there is an amount in the On Account field for the project, you must enter an additional billing invoice, and then apply the retainer to the invoice. If the billing amount for the project does not require correction, you may have to return or adjust an existing billing document so that you are not overstating your billing amount. 


~All cost of revenues recognized~ 
This item verifies that the accumulated cost of all revenues has been correctly recognized. If this item check box is cleared, follow these steps: 

 1. In the Project Inquiry window, compare the amount in the Total Costs Incurred field and in the Cost of Revenues field. 
 2. On the Inquiry menu, point to Project , and then click Project
 3. Click the project. 
 4. If any values are incorrect, reconcile the earnings and the cost of earnings for the customer. To do this, follow the appropriate step. 

• Microsoft Dynamics GP 10.0 On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , click PA Reconcile , and then click Earnings and Cost of Earnings . 
• Microsoft Dynamics GP 9.0 and earlier versions On the Tools menu, point to Utilities , point to Project , click PA Reconcile , and then click Earnings and Cost of Earnings

 5. If this project has a type of Fixed Price or Cost Plus , run the Revenue Recognition procedure. To do this, follow these steps: 
 a. On the Transactions menu, point to Project , point to Billing , and then click Revenue Recognition . 
 b. Verify that there are distributions. Then, post the distributions. 
 c. If step a and step b do not resolve the issue, run the PA Reconcile Periodic procedure for this customer, and then run Revenue Recognition again. To run the PA Reconcile Periodic procedure, use the appropriate method:

• Microsoft Dynamics GP 10.0 On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , and then click PA Reconcile Periodic
• Microsoft Dynamics GP 9.0 and earlier versions On the Tools menu, point to Utilities , point to Project , and then click PA Reconcile Periodic .    


~All Purchases received and matched or canceled ~
This item verifies either that all purchase orders have been received and invoiced or that all purchase orders have been canceled. If this item check box is cleared, follow these steps:
 
 1. On the Reports menu, point to Purchasing , and then click Analysis
 2. Print the Purchase Order Status report for a range that includes this project only. Verify that no line items have a status of Released , of Change Order , or of Received
 3. If you find line items with a status of Released , of Change Order , or of Received , receive and invoice the line items. Otherwise, cancel the line items. 
 4. On the Reports menu, point to Purchasing , and then click Analysis
 5. Print the "Received/Not Invoiced" report. If any printed line items relate to this project, these line items must be invoiced. 

Notes 
To receive or to invoice a purchase order, point to Purchasing on the Transactions menu, and then click Receivings Transaction Entry or Enter/Match Invoices

To cancel a purchase order, point to Purchasing on the Transactions menu, and then click Edit Purchase Orders . 


~All revenues recognized; (Earnings = Project Amount) ~
This item verifies that revenues have been correctly recognized. If this item check box is cleared, follow these steps: 

 1. On the Inquiry menu, point to Project , and then click Project
 2. Click the project. 
 3. Compare the amount that is in the Revenues Earned field to the amount that is in the Billed to Date field in the Project Inquiry window. 
 4. Compare the amount that is in the Billed to Date field to the amount that is in the Project amount field. If the amount that is in the Project amount field is incorrect, you may have to make adjustments to forecasts. 
 5. If any amounts that appear in step 2 or in step 3 are incorrect, reconcile the earnings and the cost of earnings for the customer. To do this, follow the appropriate step:
 
• Microsoft Dynamics GP 10.0 On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , click PA Reconcile , and then click Earnings and Cost of Earnings . 
• Microsoft Dynamics GP 9.0 and earlier versions On the Tools menu, point to Utilities , point to Project , click PA Reconcile , and then click Earnings and Cost of Earnings . 

 6. If the project has a project type of Fixed Price or of Cost Plus , run Revenue Recognition. To do this, point to Project on the Transactions menu, point to Billing , and then click Revenue Recognition . 
 7. Post the distributions. If the check box for this item is still cleared, follow these steps: 
 a. Run the PA Reconcile procedure for the customer. To do this, use the appropriate method.  
• Microsoft Dynamics GP 10.0 On the Microsoft Dynamics GP menu, point to Tools , point to Utilities , point to Project , and then click PA Reconcile Periodic . 
• Microsoft Dynamics GP 9.0 and earlier versions On the Tools menu, point to Utilities , point to Project , and then click PA Reconcile Periodic . 

 b. Repeat step 5 to run Revenue Recognition again. 


 ~All receivables retentions billed ~
This item verifies that all retention fees have been billed for this project. If this item check box is cleared, follow these steps: 
 1. Create a final billing for this project. 
 2. Make sure that the project has a status of Completed
 3. Create an invoice to bill the remaining retention fee. To do this, point to Project on the Transactions menu, point to Billing , and then click Billing Entry .   
Propiedades

Id. de artículo: 940833 - Última revisión: 9 feb. 2017 - Revisión: 1

Microsoft Dynamics GP 10.0, Microsoft Dynamics GP 2010, Microsoft Dynamics GP 2013, Project Accounting

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