1. Others
  2. Government Contracting
  3. Process month- and year-end

Create indirect cost adjustment on project

This process explains the creation of indirect cost adjustment to projects. This can be a debit or a credit adjustment, depending on if you over-invoiced or under-invoiced your customer. The indirect costs that are allocated but not invoiced are also calculated.


Project accountant Project accountant Manages the accounting transactions as related to projects to which they are assigned, ensuring the data that posts to the project is correct and within the rules for that contract/project. Start Start How to create indirect  cost allocation adjustment? How to create indirect  cost allocation adjustment? Create indirect cost allocation adjustment (project) Create indirect cost allocation adjustment (project) To make sure, the indirect cost allocations are correct and up-to-date, you can create an indirect cost allocation adjustment. This can be a debit or a credit adjustment, depending on if you over-invoiced or under-invoiced your customer. The indirect costs that are allocated but not invoiced are also calculated. Prerequisite: Actual rate calculation. Procedure 1. Go to Project management and accounting > Projects > All projects. 2. In the list, find and select the desired record. 3. In the list, click the link in the selected row. 4. On the Action Pane, click Plan. 5. Click Indirect cost adjustment. 6. In the Year field, enter or select a value. 7. In the Period field, enter or select a value. 8. On the Action Pane, click Post adjustment. 9. Click Calculate. Create indirect cost allocation adjustment (batch) Create indirect cost allocation adjustment (batch) To make sure, the indirect cost allocations are correct and up-to-date, you can create an indirect cost allocation adjustment in batch. This can be a debit or a credit adjustment, depending on if you over-invoiced or under-invoiced your customer. The indirect costs that are allocated but not invoiced are also calculated. Prerequisite: Actual rate calculation. Procedure 1. Go to Project management and accounting > Periodic > Government contracting > Calculate and post indirect cost adjustments. 2. In the Year field, enter or select a value. 3. In the Period field, enter or select a value. 4. Select Yes in the Calculate field. 5. You can have the adjustment posted automatically. Select Yes in the Post field. Note: You can also review and post the results at the project level. 6. Click OK. Review and post indirect cost allocation adjustment Review and post indirect cost allocation adjustment Review the indirect cost allocation adjustment and post to the daily journal as set up in the Project management and accounting parameters on the Government contracting tab. Procedure 1. Go to Project management and accounting > Projects > All projects. 2. In the list, find and select the desired record. 3. On the Action Pane, click Plan. 4. Click Indirect cost adjustment. 5. On the Action Pane, click Post adjustment. 6. Click Post. End End Project Batch

Activities

Name Responsible Description

Create indirect cost allocation adjustment (project)

Project accountant

To make sure, the indirect cost allocations are correct and up-to-date, you can create an indirect cost allocation adjustment. This can be a debit or a credit adjustment, depending on if you over-invoiced or under-invoiced your customer. The indirect costs that are allocated but not invoiced are also calculated. Prerequisite: Actual rate calculation.

Create indirect cost allocation adjustment (batch)

Project accountant

To make sure, the indirect cost allocations are correct and up-to-date, you can create an indirect cost allocation adjustment in batch. This can be a debit or a credit adjustment, depending on if you over-invoiced or under-invoiced your customer. The indirect costs that are allocated but not invoiced are also calculated. Prerequisite: Actual rate calculation.

Review and post indirect cost allocation adjustment

Project accountant

Review the indirect cost allocation adjustment and post to the daily journal as set up in the Project management and accounting parameters on the Government contracting tab.

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