When working with fixed price projects, the registration of labor hours will not lead to a sales invoice for these realized hours, because the invoices are generated via project terms. This document explains how customers can register the costs related to these labor hours, independently from the sales revenue process.
Step 1: After you’ve created and activated your fixed price project, go to the project rates and fill in 0.00 for the hour categories you intend to use on this project:
Step 2: go to Project>>Reports>>Invoicing term requests and create the project terms:
Step 3: start planning the people who will perform activities on this project
Step 4: hour realizations are being registered on the project. Each request will automatically have a “to be invoiced” sales amount of 0.00
Step 5: the project manager approves the hour realizations
Step 6: The project manager is in control when he wants to send the costs of the realizations to his financial Globe administration. He creates a new project term with a zero revenue amount, just to register the costs:
Step 7: The project manager approves this zero invoice-term for invoicing:
As a result, the invoice will appear under Invoices:
Step 8: run the PSA background job that generates the invoices and costs in Exact Globe
As a result:
– The costs are already registered in Exact Globe on the fixed price project:
– The project term request as well as the hour registration request, will get the status Processed:
That’s all! The costs are correctly registered in the financial administration where, optionally, several Work-In-Progress calculations can be done and project profitability reports can be shown.
– Working with project terms on fixed price projects: chapter 10.2 of the Exact Synergy Enterprise PSA manual
– Setting up the PSA background job : chapter 12 of the Exact Synergy Enterprise PSA manual
– Introduction video on Exact’s PSA solution
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