Question

Which procedure updates the Sub Projects with a tick in the box of Financially Completed

  • 26 June 2023
  • 1 reply
  • 69 views
K
Rank
Badge +2

Hi all experts,

We have Project with Project type No Capitalization. 

All activities are Closed. In the Financials we completed the sub projects.

We also completed manually the project so the Project status changed to Completed. This should have been changed automatically, when the sub projects were completed. Why didn’t the status change automatically? Is it because of the Project Type No Capitalization?

And there is still no tick in the box of Financially completed in the Project Management / Sub Projects window. Which procedure changes the Sub Projects to Financially Completed?

 

 

1 reply

F
Rank
Userlevel 6
Badge +17

Hi @Kerstin ,

The Financially Completed option works for capitalization projects.

‘’When used with periodical capitalization, it is possible to financially complete part of a project without affecting other parts of the project structure. In order to financially complete a sub project, all activities under this sub project (including the activities on sub subprojects) need to be in status Completed or Canceled. This process can be executed from the Project window in IFS Financials where you can right-click and then click Sub Project Completion. Rollback is available from the Project window as well as the Project Completion Details window. Once this is executed, all sub projects and activities under the selected sub project will be marked as Financially Completed. No changes will be allowed for subprojects and activities that are financially completed.

Sub project completion postings will not be rolled back during a final completion of the project. Final completion will select all non-completed activities and create a completion voucher to reverse the capitalization of those activities.’’

Hope this helps!!

Regards,

Mithun K V

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