to select, the project
to be transferred. This outgoing project can be transferred from any level
of the project to any one project. The project name will be displayed
in the untitled field on the right.Use this screen first in a three-screen process to transfer direct costs associated with a project. You should 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 wish 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. Once 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 Multi-Job process. Also, please see Projects Special Topic PJ-20, "Project Transfer." 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).
To accomplish the project transfer, perform the following steps:
Set up the transfer in the Project Transfer Setup screen.
Create a Journal Entry (JE) in the Compute Project Transfer screen (Projects » Cost and Revenue Processing » Project Transfer).
Print the JE Edit Report to review the proposed journal entry.
Post the journal entry to the General Ledger.
Successfully complete the Update Project Transfer History Tables screen (Projects » Cost and Revenue Processing » Project Transfer).
Use this process to transfer direct costs from one existing project to a new project. These costs will be 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 will be transferred.
If you retrieve data in this screen using Find or Query and the project has already been successfully transferred, you can edit only the Active, Period, and Subperiod fields. You will then be able to 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 will not be 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. Once the project is successfully transferred, the status of the Transfer (outgoing) Project will be changed to inactive (the Active check box will be blank) in the Compute Project Transfer screen (Projects » Cost and Revenue Processing » Project Transfer). 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. The system will use the general ledger to determine the amount to be transferred. If a previous transfer has taken place, there will be 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 Compute Project Transfer screen (Projects » Cost and Revenue Processing » Project Transfer).
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.
Once this entire process is executed (after you have completed the third screen, Update Project Transfer History Tables screen (Projects » Cost and Revenue Processing » Project Transfer)), you must recompute rates, compute burden, load labor rates, compute revenue, and post revenue.
This non-editable field displays the functional currency of the database in which you are working.
Enter, or use to select, the project
to be transferred. This outgoing project can be transferred from any level
of the project to any one project. The project name will be displayed
in the untitled field on the right.
You can use only those projects that are active in the Project (PROJ) table. Each project is allowed only one Project Transfer Setup screen. To retrieve the screen previously used to transfer a project, use Find or Query.
The transfer project must have one of the following Project Classifications: B&P (Bid & Proposal), Direct, Indirect, IR&D (Independent Research & Development), or WIP (Work in Process). Project Classifications are determined in the Maintain Project Master screen (Projects » Project Setup » Project Master).
Select this check box to indicate that this transfer (outgoing) project is active. Once you have successfully run the Compute Project Transfer screen (Projects » Cost and Revenue Processing » Project Transfer), the status of the Transfer Project is changed to inactive. When performing transfers for the same project in successive periods, select this check box to re-activate an inactive transferring project. Avoid using the Compute Project Transfer process as a tool for monthly reclassification of costs; it can be cumbersome to use for this purpose. A better tool for monthly reclassification is the Multi-Job feature.
Select this check box to indicate that any existing levels below the transfer project specified will be included in the transfer. The lower levels of the transfer (outgoing) project will be transferred into one receiving project level. To transfer several lower level projects on the same project tree to another project tree, transfer each individually.
Enter, or use to select, the project that is to receive
the outgoing data. You can enter only one project number in this field.
This project must be at or below the level for billing and revenue formulas.
The project name will be displayed in the untitled field on the right.
You can use only those projects that are active in the receiving Project (PROJ) table. To complete the transfer process, you must create a revenue formula if the receiving project classification is Direct or WIP.
If the receiving project classification is B&P, IR&D, or Indirect, you will receive a warning if there is no revenue formula, but you will still be allowed to transfer the project.
When no billing formula exists for the receiving project, only direct costs will be transferred. No balance sheet accounts or billing history tables will be updated. This information will reside in the transfer project. The billing formula for the project is determined in the Project Billing Info screen (Projects » Billing » Billing Master or Projects » Project Setup » Revenue Setup).
Enter, or use the drop-down list to select, the organization code that is to receive the debit of the receiving project. Valid options are:
Performing - Select this option to have the receiving project use the same organization as the transfer (outgoing) project.
Owning - Select this option to have the owning organization of the receiving project receive the transfer debit. This owning organization of the receiving project was selected for the organization in the Basic Info screen (Projects » Project Setup » Project Master) or the Maintain Project Master screen (Projects » Project Setup » Project Master).
Fixed - Select this option to select an organization for the receiving project. All costs transferred will be charged to this organization regardless of the original charging org. Select the organization in the Fixed Organization field.
Enter, or use to select, the organization for the receiving
project. This field is active only when you select Fixed
in the Organization
field. This field will accept only active organizations.
Use this group box to specify which fiscal year, period, and subperiod to use to transfer costs. The fiscal year, period, and subperiod selected will be used for the creation of the journal entry in the Compute Project Transfer screen (Projects » Cost and Revenue Processing » Project Transfer).
Use this drop-down list to select the transfer project's fiscal year. No records from any other year can exist in the GL_POST_SUM table for the transfer (outgoing) project.
Use this drop-down list to select the transfer project's fiscal period. No records can exist in the GL_POST_SUM table for any period later than this fiscal period. The system will display a warning message if it finds transactions in another period.
Use this drop-down list to select the transfer project's subperiod. No records can exist in the GL_POST_SUM table for any subperiod later than this subperiod. The system will display a warning message if it finds transactions in another subperiod. The field to the right will display the ending date of the selected subperiod.
Click this button to access the Accounts subtask. Use this subtask to transfer (debit) this project's costs to one or more accounts in the receiving project. Use this subtask only if a cost account will differ from the transfer to the receiving project. Each account must be a project-required account and will be subject to Costpoint's Project/Account/Organization (POA) validation.
If you do not use this subtask, all existing accounts in the transfer project will be used for the transfer into the receiving project. The system will validate the receiving project account group to ensure that all of the accounts exist.
Changes to this screen update the following tables:
PROJ_XFER*
PROJ_XFER_ACCT* (used only if destination account is different than transfer account)
* This table is unique to the project transfer process.