Project-based accounting

[Ahmad_Khoiron]

Hi,

I am new to manager, just bought the server edition. I was looking for Project-based accounting module in the software.

Please can point-it out.

Thanks
Akho

[madox]

You can use track code feature please refer to the guide bellow:
Tracking financial performance by division

[Ahmad_Khoiron]

Hi Madox,

Thank you very much for your prompt respond. I got it.

Regrads
Ahmad

[Tut]

Project accounting is coming soon. It is second on the Roadmap:

Roadmap

This is a list of features which are going to be implemented in Manager in upcoming weeks or months. Features are sorted in order in which they are most likely going to be implemented. Audit trail For cloud edition and server edition it’s important to see what users accessing the system are doing. Job costing Currently, if you need to measure profitability by job, you can use Tracking codes concept. However tracking codes are more appropriate for divisions rather than short-lived jobs. New t…

[Meester]

Dear @Tut

Is there a timeframe on the completion of the Project-based Accounting module?

Thank you

[Tut]

I have no idea. I am a forum moderator and user, not a developer. I have nothing to do with decisions about what is added to the program or when.

[Meester]

Dear @Tut

Can you maybe direct me to a developer / give an indication how I should go about in contacting that department?

[sharpdrivetek]

@lubos is the developer. using the forum is the best way to get your queries answered.

[Meester]

Dear @lubos

We have a NGO and I need the following functions:

• Keep track of different FUNDS for specific purpose [will use Tracking feature];
• Also keep track of cost per PROJECT (could be out of more than one FUND) - [need Project feature]

How soon will the Project feature be finalized?

[Brucanna]

Could you clarify, when taking up the receipt of those FUNDS are they being posted to a P&L income or a BS liability account.

Generally, when you receive “FUNDS for specific purpose”, then they are posted to a BS liability TRUST account, as the FUNDS aren’t income but are being held in trust for a specific purpose.

Any expenditure of those funds would also be posted to that Trust account, therefore that one liability account would have tracked all movements related to those Funds for reporting purposes.

Then if you have Projects which are multi-funded, then you add that to the FUNDS transactions.

Putting aside the NGO’s normal income & expenses, then the chart of accounts would be like this:

For illustration purposes the funds are shown as separate accounts but for actual usage (if you wanted) there would just be one FUNDS control account made up of fund sub-accounts via using the Special Accounts tab.

Then a payment transaction would look like this - Funds first and Project contra second

A multi funds multi project payment could look like this

The Trust account contains the FUNDS details

The P&L contains the PROJECTS - noting their nil impact on net profit (loss)

And if you drill down on a projects income you can see which funds sourced it.

[Brucanna]

It should also be noted that if the FUNDS are just for ONE specific purpose (not to be project shared), then you only need the Trust account to manage the funds details - NO project tracking code would be required.

[Meester]

Dear @Brucanna and @lubos

With Charity (Religious, Community, Welfare, Sports, etc.) Organisations in mind, please consider adding a Fund Accounting tab to the system. Any of the above organisations can then just activate this function under settings.

Possible Functions with Fund Accounting feature can easily be created:

1. Donors (with same features as Customer feature). Current Customers feature can be cloned, so
   that Donor information is kept seperately from Customers information. Thus contact details etc. can
   be saved and same Reports (as with Customers) can be viewed.
2. Handling various Funds tab (with same features as Tracking Codes feature). Current Tracking
   Codes feature can be cloned, so that the specific Fund can be selected when entering transactions.

TurboCash (another Open Source Accounting software) have the ability to setup a) two types of Debtors (thus one can be used for Donors) and also two types of Cost Centres (thus one can be used for Divisions and the other for Funds), keeping in mind that it also has the Project feature build in.

[lubos]

@Meester, Manager has quite a few generic tools to get you there now.

If you are after custom subsidiary ledger, you can use Special Accounts tab.

See: Use special accounts | Manager

If you have two types of “customers” and want to separate them on financial statements, you can use custom control accounts.

See: Add custom control accounts | Manager

[Meester]

Is there a timeframe on the completion of the Project-based Accounting module?

[Meester]

Dear @lubos / @Tut

What is the Roadmap or Timeframe for Project-based Accounting module(s)?

[Tut]

@Meester

What is the Roadmap or Timeframe

I have no information on this. I am a forum moderator, a user, not the developer.

[Hennie]

@Tut

Project accounting is coming soon. It is second on the Roadmap:

This is what you wrote on March 2017.
Since then we haven’t heard anything about it. Tracking codes aren’t an alternative for proper Project accounting (from purchase till sale).
Maybe @Lubos can update us about the status.

[Tut]

@Hennie

This is what you wrote on March 2017.

Yes, I did, but I was only quoting what was published on the roadmap, which has since disappeared. I have no more knowledge about plans than you.

[Frankie]

Yes, that would be an great enhancement @lubos .