The latest version (21.9.28) adds project-based accounting. There is new tab called Projects [image] The idea behind projects is to be able to track profitability by project or job. [image] When you create new project, you will be able to assign project name on line items within transactions (…

I hear what you are saying. The points that you have made are quite valid, especially the point about the sales order tab possibly ending up with too much information making it harder to view the overall information. The thing that I originally liked about the idea of the Sales order was the abilit…

Yes exactly, further there would be custom fields need to be added to make it more flexible. Projects also require to be progressive rather static and company require several functions…

[image] lubos: Overhead is a percentage of direct costs. When you create new project, you can set overhead percentage. What will be the mechanism to offset this arbitrary overhead calculation against the actual overhead costs, so that there is not a double up in reports? Will this be done by…

[image] dalacor: Do you have any ETA on completion of the Sales Order module as I believe we are waiting on some functionality to be added to that. I will need to review the topic again. [image] danowagroup: Projects also require to be progressive rather static and company require severa…

@lubos check this out this will explain what project based accounting functions: [NetSuite-Project-Accounting]

We are impressed that the Manager crew are giving thought to business flow while maintaining good accounting practice. In addition it is truely invigorating to see how Manager is aligning to business needs so hopefully we will hear less that it is just an “accounting program”. There will no doubt be…

[image] lubos: Actually, I realized Overhead concept is not good. There should be a field for desired gross profit margin instead and you should see at glance whether your projects are above or below your desired gross profit margin. I’m going to change this aspect. Yes please. That would be …

[image] lubos: @danowagroup are you talking about being able to generate P&L per project? This will be added within a few days. Will the Project P&L be a different report to the standard P&L? I think that carry forward amounts for income and costs will be required when, say producing a curre…

When creating a Receipt transaction to a project it is incorrectly recording it as negative direct costs. I think it should show as income. PS. Also, a journal credit is recording as negative direct costs instead of income.

Added project-based accounting

jeffbangquil September 29, 2021, 6:20am 13

Would be nice to have project budgets and actual reporting. Also, percentage of completion report.

Projects' Direct Cost Includes Purchase Orders

Topic		Replies	Views
Define projects and divisions for accounts	9	664	January 18, 2022
Project-based accounting	18	3789	October 3, 2019
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Job wise profit and loss	18	2567	January 12, 2017

Added project-based accounting

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