Use this activity to enter information for a project group in the General Ledger and Internal Ledger tabs. The term project group can be used in more than one way. For example, it can be used for groups of projects of the same type and projects that must use the same reposting rules in each ledger. You can also use the project group as a control type in the posting control. Applicable information entered for the project group will be used as default values when new projects are created, based on a project group.
If the recognition method is Event Based, event related information should be defined in the Revenue Recognition Information tab in the Financial Project page.
The Project Accounting code part function must have been specified for one code part in the Define Code String page. To be able to enter project series, these must have been specified in the Project Series window. General Ledger and Internal Ledger tabs will be editable only when Capitalization Posting Method is set to Periodical and Separate GL/IL Rules is enabled.
As a result of this activity, you can enter information for a specified project and connect it to the project group. All applicable information will be used as default values when new projects are created.