Costpoint Online Help

Create Journal Entries

After selecting the projects and period, select the Create Journal Entries option in the Select Process group box to begin generating the journal entries transferring the balances from the old organization to the new organization.

The process includes each account from the project’s PAG with the following function codes:

  • REVENUE
  • ALT REVENUE
  • BILLED A/R
  • UNBILLED-GENERL
  • UNBILLED-RETAIN
  • BILLD AR-PRGRSS
  • PRGRSS-LIQUID
  • PRGRSS-UNLIQUID
  • WIP TRANS OUT

The balance, up to and including the effective subperiod, transfers from the old organization to the new organization. With the exception of REVENUE and ALT REVENUE, each account is a balance sheet account and, as such, their prior year's balance rolls forward into the current fiscal year. So the balance transferred for these accounts is ITD. REVENUE and ALT REVENUE accounts are income statement accounts and, as such, their prior year ending balance is netted out into retained earnings as part of the fiscal year roll forward. So the balance for these accounts is YTD.

If the project has been set up to post revenue by performing organization on the Manage Revenue Information screen, the Process Organization Changes utility does not transfer the revenue balances for these projects. Since it was decided that revenue posts to the performing organizations, a change in the owning organization does not cause the creation of a journal entry and duplication of revenue does not occur.

Note that a separate journal entry is created for each project and is inserted into the effective subperiod from the Org History subtask. These journal entries are designated with the Adjusting journal entry type. The Journal Entry Number column on the Org History subtask is populated with the appropriate number.

The transaction validations are not enforced when the journal entry is created because it is typical to have the Allow Charging check box cleared on the main screen of the Manage Project User Flow for the revenue level project.

If a project is posting revenue by performing organization but has no billing master record, the Process Organization Changes utility does not transfer the unbilled balances because revenue is transferred only for projects that post revenue by owning organization. Since there is no billing master record, any unbilled transfer must be completed with a manual journal entry.