Create Project Accrual

Explanation

Use this activity to create an Accrual for a project for a specific Accounting Period in an Accounting Year. If you have accrued costs related to a Subcontract, the contract should be connected to the project. You can also create Miscellaneous Project Accruals for miscellaneous costs related to the project. When an accrual is created for a project, if a connected subcontract(s) is there, the source data from subcontracts and their valuations will be summarized to contract, currency and cost elements in the snapshot.

Prerequisites

• A project must exist in Approved, Started and Completed status.
• If Subcontract Accruals need to be created, a subcontract or contracts must be connected to the project.
• Basis for sub contract accrual calculation must be defined.

System Effects

• A Project Accrual will be created for the selected Project, Accounting Year and Accounting Period.
• The status of the Project Accrual would be Preliminary.