16 February 2009

Weekly Dynamic: Project Accounting Reference Transaction

There is no way to do a negative transaction in Dynamics GP Project Accounting for transaction types other than Misc. Log transactions. Or is there? For Timesheets, Equipment Logs and Employee Expense you are stuck making adjusting transactions to reverse the original entry. Or are you?

Are you intrigued yet? Many people don't know that you can create a "Referenced" transaction in Project Accounting that allows you adjust a posted transaction.

For example, in a PA Timesheet transaction (Transactions->Project->Timesheet Entry), instead of leaving Transaction Type as STANDARD, click the drop down and change it to REFERENCED. In Reference Doc Number, enter or lookup the timesheet transaction to adjust. In each line, select the project and cost category id to adjust. You can process negative amounts for this line but you can't subtract an amount that is greater than the original amount.

Adjustments can go both ways. You can subtract time from one project and add it to another for example. The original transaction does need to be posted, otherwise, just adjust the unposted original.

Referenced Transactions are available in Timesheet, Equipment and Employee Expense transactions. Inventory transactions have Return functionality instead and Miscellaneous logs allow negative.