+4
Hi all,
I have one question,
When i do the capitalization of my cost and revenue, i don’t have the same amount when i look at my real cost in monitoring of the project and the real cost capitalised.
So i don’t Know what is wrong?
So can anyone help me for this?
For your information, my project is not finalised.
Thanks for your answer.
Hi,
You need to consider how IFS GL (Project capitalization) views cost as compared to how project management views cost.
In Project Management, assets - receiving inventory against a project. is viewed as cost.
The GL project Capitalization moves true cost account values to the project capitalization account. Assets such as inventory are not cost accounts (typically).
Consider these differences when comparing project management cost and what’s found in GL project capitalization.
Best regards,
Thomas
+4
Hello,
Hi,
You need to consider how IFS GL (Project capitalization) views cost as compared to how project management views cost.
In Project Management, assets - receiving inventory against a project. is viewed as cost.
The GL project Capitalization moves true cost account values to the project capitalization account. Assets such as inventory are not cost accounts (typically).
Consider these differences when comparing project management cost and what’s found in GL project capitalization.
Best regards,
Thomas
Hi Thomas,
Thanks for your answer, i understand.
So for my understanding, it’s means thats all my Cost/Revenue matched with an inventory account are not considering to my capitalization? and i deduce this for my calculation when i look at the project monitoring.
Thank you
Hello,
Yes, that’s correct understanding.
I would add one more aspect to your consideration: time.
Project monitoring (PM) considers only current picture of the project, while GL capitalization is periodical - run at the end of specific accounting period. This means, that you can run now capitalization at the end of September, having already postings present in GL for October, PM will include October entries in actual costs presentation, and GL capitalization for September will leave them for capitalization in October.
+11
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
+4
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
Hello Ralph,
Thank you So much.
+4
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
Hello,
Yes, that’s correct understanding.
I would add one more aspect to your consideration: time.
Project monitoring (PM) considers only current picture of the project, while GL capitalization is periodical - run at the end of specific accounting period. This means, that you can run now capitalization at the end of September, having already postings present in GL for October, PM will include October entries in actual costs presentation, and GL capitalization for September will leave them for capitalization in October.
Hello Adam,
Thank you very much for your help.
An another question, is the voucher of capitalization is automaticaly reverse in the next period?
thanks
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
Hi,
in case you would like to add the value of project related stock into the Revenue Recognition you can use the checkbox on the account to do so:
Regards
Ralph
Hello,
Yes, that’s correct understanding.
I would add one more aspect to your consideration: time.
Project monitoring (PM) considers only current picture of the project, while GL capitalization is periodical - run at the end of specific accounting period. This means, that you can run now capitalization at the end of September, having already postings present in GL for October, PM will include October entries in actual costs presentation, and GL capitalization for September will leave them for capitalization in October.
Hello Adam,
Thank you very much for your help.
+4
Hello,
Yes, that’s correct understanding.
I would add one more aspect to your consideration: time.
Project monitoring (PM) considers only current picture of the project, while GL capitalization is periodical - run at the end of specific accounting period. This means, that you can run now capitalization at the end of September, having already postings present in GL for October, PM will include October entries in actual costs presentation, and GL capitalization for September will leave them for capitalization in October.
Hello Adam,
An another question, is the voucher of capitalization is automaticaly reverse in the next period?
thanks,
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