Manage Project Transfer Information
Use this screen as the first in a three-screen process to transfer direct costs associated with a project. Use this screen only for the project transfer process.
This process was developed primarily to assist when restructuring projects that have incurred costs before all the factors influencing project structure have been identified. You may want to set up a Bid & Proposal project or a single-task direct project to accumulate project costs during the initial stages of a new project. After the contract has been signed and more information on the project structure is available, you can use this process to reassign your project's costs, if necessary. This process transfers all or most of the initial project's costs to a new project structure. Do not use this process as a way of redistributing project costs on a monthly or quarterly basis. If you want to develop a method of ongoing project cost reclassification, see the screen documentation for the Manage Multi-Job Allocation Information process. Also, please see the "Project Transfer" and the "Project Transfer Versus Multi-Job" topics. Use this procedure to transfer any of the following types of projects: B&P (Bid & Proposal), Direct, Indirect, IR&D (Independent Research & Development), or WIP (Work in Process).
Use this process to transfer direct costs from one existing project to a new project. These costs are transferred at a summary account/organization level. This is especially helpful when a contract is awarded and your company needs to transfer costs from an indirect project to a direct project.
In addition, you can also use the project transfer process to transfer direct costs from an existing project level to another level of the same project, thus restructuring your existing project work breakdown structure. No indirect burden costs are transferred. If applicable, both Balance Sheet and Income Statement account balances are transferred.
If you retrieve data in this screen by clicking
and the project was already successfully transferred, you can modify only the
Active,
Period, and
Subperiod fields. You can then transfer additional costs that may be charged in a future period after the original transfer has been completed.
Use this screen to change a project from a three-level to a four-level project. You can directly transfer projects from one project to one project or from many projects to one project, but you cannot transfer projects from one project tree to another. You can use this screen only to transfer data contained in the current fiscal year. The transfer is not performed if any project data (for the transferring project) exists for any year other than the one selected for transfer. Enter the fiscal year for transfer in the Select Subperiod For Transfer group box.
The first time you transfer a project in a fiscal year, the total year-to-date balances, rather than the period or subperiod amounts, are transferred. After the project is successfully transferred, the status of the Transfer (outgoing) Project is changed to inactive (the Active check box is cleared) on the Create Project Transfer Journal Entries screen. You can transfer the same project again in subsequent fiscal periods in the same fiscal year if additional costs were posted in a future period after the original transfer. Costpoint uses the general ledger to determine the amount to be transferred. If a previous transfer has taken place, there is a credit amount equal to the previous year-to-date amount in the general ledger. This prevents a double transfer from taking place.
You must complete this screen before using the Create Project Transfer Journal Entries screen.
Run this process after posting all costs to the General Ledger and after posting bills and cash receipts. If the transfer (outgoing) project is a revenue-bearing project, you must compute and post revenue before the transfer.
After this entire process is executed (after you have completed the third screen, Update Project Transfer History Tables screen), you must recompute rates, compute burden, load labor rates, compute revenue, and post revenue.