Improved projects in relation to purchase orders

Previous implementation of Projects had two issues:

  • Purchase orders don’t have Account column so unless Item was selected on orders, the expenses on purchase orders would show under Suspense account.
  • If Purchase Invoice was linked to Purchase Order, it was not possible to select Project on purchase invoice. This was originally meant to prevent double-up (when eventual purchase invoice was entered) but it’s not suitable workflow to businesses who use purchase orders but want their project expenses to be based on purchase invoices (actual incurred costs).

To solve both issues, the latest version (24.5.16) is improving implementation of Projects so it’s more flexible and more intuitive.

  • Two new columns are added to Projects tab: Purchase Orders and Revised Profit.

    image

  • It’s now possible to select Project on all purchase invoices whether they are linked to purchase order or not.

  • Project expenses on purchase orders no longer show up on project profit & loss statement. Instead, they show up under new Purchase Orders column. So now we have 5 columns under Projects tab:

Income and Expenses column represent general ledger transactions. Profit is substracting expenses from income.

Purchase Orders represent uninvoiced project expenses. And Revised profit are purchase orders substracted from Profit.

Keep in mind, that if you use Projects but don’t use Purchase Orders, nothing is changing for you. You should hide Purchase Orders and Revised Profit columns since they will have no meaning.

The guide summarizing this topic is at: https://www.manager.io/guides?projects

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Hi every one,
As we can see that the Projects have been improved; yet, there seem to be something has also changed: for example,
Before the new project implementations, all our project costs regardless of the type of costs entered is reflected under Direct Costs Column. now, Inventory Written-offs costs charged to projects ( when materials issued to project sites) are not shown under the new Expenses column under projects, but all other transaction types - Payments, Purchase Invoices are usually shown.
The other issue is the both profits are different - as shown by the attachment.
Does any one encounter such an issue?
Thanks

Project Summary

Fixed in the latest version (24.5.21.1562)

1 Like