WIP Accounting#
Overview#
The measurement functionality provides a way for you to record work in process and recognize project revenues and expenses so that you can track the financial value of projects in the general ledger while the projects are ongoing.
Setup#
For automatic measurements, you need to set up the following features:
- Measurement methods
- G/L integration codes
- Measurement templates
- Resource pricing
Projects Setup#
| Field | Description |
|---|---|
| Balance Filter (Measurement) | Here you can select the G/L integration code that will be included in measurement statistics when you record WIP or revenues. |
| Save on Posting Meas. Templates | This toggle is only relevant when batch posting (that is, when you post more than one project-related measurement at once). If the toggle is turned on, data is saved after each check of a measurement in the batch so that all (successfully) posted values are retained if an error is encountered. With the toggle turned off, none of the measurements from the posting process will be stored (resulting in a complete rollback) so that all of them must be reposted when an error occurs. |
Measurement methods#
Before you can work with the functionality, you also must set up at least one method of measurement and create a separate page for each. To set up a method:
- Choose the Search icon, enter Measurement Methods, and then choose the related link.
- Choose New on the ribbon.
- Fill in the fields as described in the following table.
| Field | Description |
|---|---|
| Code | Specify a code for the method. The code must be unique. |
| Description | Specify a description for the method. |
| G/L Integration | Select this field if you want measurements based on this method to be copied to Finance. |
| Project Posting Group | Select a project posting group in this field if you want to measure project ledger entries. |
| Measurement Template | Select this field if you want to use a measurement (that is, calculation) template. This field correlates with Measurement Base and both influence each other. The Template option is then automatically chosen in the Measurement Base field. |
| Measurement Base | Select a basis for estimating project values. If you select the Measurement Template checkbox, the value in this field is set to Template automatically and cannot be changed. Project Ledger Measures project ledger entries. Completion The system determines how far the project has progressed and uses that percentage for calculations in a measurement template. Template Measures values according to custom criteria. |
| WIP Method | Select a basis for estimating work in process: • (blank) • None • Costs • Prices • HGB Costs |
| Calculate | Specify if the system should use project ledger entries posted for usage or sales, or both, to record WIP. |
| Recognition Method | Specify if you want to recognize revenue according to the percentage of completion or the completed contract method. |
| Computation Log | Select this field if you want the system to log WIP calculations so that you can track measurement amounts. To see the log, choose the Assist button on unposted or posted measurement lines. |
You can assign methods to a project template so that each project created from the template will have methods assigned to it automatically. Projects created without the help of a template require manual intervention. To assign a method manually:
- Choose the Search icon, enter Projects, and then choose the related link.
- On the project list, choose Related > Project > Measurement > Measurement Methods.
- Alternatively, open a project card from the list and proceed as described above.
If you opted for measuring project ledger entries, the default method for measurements will be used and a template will not be created. In this case, you need to specify the relevant measurement accounts through project posting groups.
Project posting groups#
Project posting groups store the accounts to which project costs are posted. To set up a group:
- Choose the Search icon, enter project365 Posting Groups, and then choose the related link.
- Fill in the fields as described in the following table.
| Field | Description |
|---|---|
| Code | Specify a code for the group. The code must be unique. |
| Description | Specify a description for the group. |
| WIP Costs Account | (Consumption) Choose the account to which unit costs are debited when you Post Work in Process to G/L and credited when you Post Project Recognition. When you post WIP, the Project Costs Adjmt. Account shown in General Posting Setup is used as the balancing account to this account. For revenue recognition, that function is assumed by the Project Costs Account. |
| WIP Sales Account | (Sales) Choose the account to which unit prices are credited when you Post Work in Process to G/L and debited when you Post Project Recognition. When you post WIP, the Project Sales Adjmt. Account shown in General Posting Setup is used as the balancing account to this account. For revenue recognition, that function is assumed by the Project Sales Account. |
| Project Costs Account | (Consumption) Choose the income account to which unit costs are debited when you run the Post Project Recognition to G/L batch job. |
| Project Sales Account | (Sales) Choose the P&L account to which unit prices are credited when you run the Post Project Recognition to G/L batch job. |
| G/L Expense Account | Fill in this field if you intend to post to project-related G/L accounts. Amounts are credited to the account when project usage is copied to sales lines. |
| WIP Profit Account | Choose an account for storing prorated profits as specified by the IAS percentage of completion (POC) method. This account is only required when you measure project completion. |
| WIP Profit Applied Account | Choose the contra account to the WIP Profit Account. This account is only required when you measure project completion. |
Note
The accounts used to post in Finance aren’t copied from a project posting group if you estimate the financial value of a project with the help of a measurement template. Instead, the system will use the accounts specified through G/L integration codes.
G/L integration codes#
G/L integration codes are assigned in measurement templates to line amounts that are posted to Finance. The codes specify the debit and the credit accounts that you want to use to record WIP and recognize revenue.
You need to set up a different code for each measurement method and area covered (by setting up a code for measuring reservations and another for measuring partially finished work according to either HGB or IFRS rules, for example). Afterward, you can assign these codes to the template lines manually (see Set Up Measurement Templates).
To set up a code:
- Choose the Search icon, enter G/L integration Codes, and then choose the related link.
- Fill in the fields as described in the following table.
| Field | Description |
|---|---|
| Code | Specify a code for G/L integration. The code must be unique. |
| Description | Specify a description for the G/L integration code. |
| Integration Type | Select an integration type if you need access to posted measurement entries in a project measurement template. Example Measurements according to HGB require a calculation of the balance sheet values that you posted the previous year. The following options are available in this field: • (blank) • Balance Sheet • Cost of Materials • Labor Costs • Advance Pmt. (Assets) • Advance Pmt. (Liabilities) • POC • POC Project (Assets) • POC Project (Liabilities) • IFRS Prepmt. |
| Debit Account (WIP) | Specify the account to which you want to add the debit amount stored for a certain measurement entry when work in process is posted. |
| Credit Account (WIP) | Specify the account to which you want to add the credit amount stored for a certain measurement entry when work in process is posted. |
| Debit Account (Recog.) | Specify the account to which you want to add the debit amount stored for a certain measurement entry when revenue recognition is posted. |
| Credit Account (Recog.) | Specify the account to which you want to add the credit amount stored for a certain measurement entry when revenue recognition is posted. |
| Measure After Final Invoice | Select this field if you want to continue creating measurement templates and entries for a project that was settled in full. The integration code is then used to identify the entries that will be measured even after the final invoice is paid. Suggestions for recognizing revenue, on the other hand, show only entries that this field is not selected for. |
Measurement templates#
Note
You need a valid license to work with measurement templates.
You need to set up a template for each method of measurement that you want to use. Examples are measurements based on IFRS or HGB. To set up a template:
- Choose the Search icon, enter Measurement Template, and then choose the related link.
- Fill in the fields on the lines as described in the following table.
| Field | Description |
|---|---|
| Row No. | Specify a code for the template, such as R10. The code must be unique. The value in this field can later be used to gain access to the Totaling or Argument and Condition fields. A code must be entered if you want to use G/L integration. |
| Description | Specify a description for the measurement line. |
| Cost Line | Select this field if the source table chosen on the line (see Source Table field) will be used to retrieve project ledger entries or the remaining cost and should be filled only with cost amounts. |
| Auto Calculate | Select this field if the line should be calculated automatically based on tables that contain certain project-related entries. |
| Source Table | Specify from which table data the line amount should be calculated. The following options can be chosen: • G/L Entry • Project Ledger Entry • Project Account Entry • Measurement Template • Order Amount • Measurement Entry • Remaining Cost • Completion • Advance Pmt. • Advance Invoices Note Please note that the Advance Pmt. and Advance Invoices options are only available if you installed the Advance Payment app. Afterward, you can use the Totaling field to filter data even further. |
| Use Unit Costs | Select this field to use unit costs even if you chose HGB Costs as the basis for measurement. |
| Advance Amt. Type | Specify if you want Advance Pmt. or Advance Invoices entries (see Source Table field) to be shown as gross or net amounts. For all other source tables, this field is left blank. |
| Totaling Type | Specify the method for totaling measurements: • Account (for G/L, project ledger, or project account entries) • Formula• If • Total Accounts (for G/L, project ledger, or project account entries) |
| Totaling | Fill in this field based on the option you selected in the previous field. For project ledger or project account entries Specify a project account number respectively total accounts number. For measurement entries Specify a G/L integration code. For measurement templates Specify a row number. For G/L entries Specify G/L account numbers respectively total accounts number For totaling type Formula Specify a row number and a mathematical operator Leave the field blank if you chose another option than those listed. |
| Argument 1 Condition Argument 2 Argument 3 Argument 4 |
If you selected the If totaling type, you must fill in these fields according to the following rules: If Argument 1 Condition Argument 2, then Argument 3;else, Argument 4 Note The arguments can only contain row numbers and mathematical operators or numbers Options in Condition fields: • (blank) • < • > • = • <= • >= For all other totaling types, the field is left blank. |
| Date Filter Calculation | If calculated table values are posted to a project automatically, you might need to set one of the following options as a date filter: • Previous Year • Year to Date • Current Period • Balance at Date Otherwise, leave the field blank. |
| Show | Select this field if you want the line printed on a gross profit and loss report. |
| G/L Integration Code | Fill in this field if you want to create a measurement entry for the line. The code is then copied to the accounts specified for it when you post to Finance. You must fill in the Row No. field if you want to enter a G/L integration code. |
| Print Description | Select this field if you want its value printed as a heading on a gross profit and loss report. If the field is left blank, the default description will be used instead. |
Individual measurement values#
Additionally, you can specify up to 10 values that will be shown on the Project Measurements page in accordance with certain measurement methods. Each value will be displayed in a separate column on the page (but as a line, or row, on the individual finance report, hence the name chosen for the feature).
- Choose the Search icon, enter Project Measurement Method Row Setup, and then choose the related link.
- On each FastTab, fill in the fields as described in the following table.
| Field | Description |
|---|---|
| Measurement Method Code | Specify the measurement method that the value relates to. |
| Source Value | Specify the value that should be shown. Options are: • Amount • Measurement Amount • Measurement Base • Posted Until Prev. Period |
| Description | Enter a description for the column header as it should appear on the Project Measurements page. |
| Row No. | Select a row number based on the measurement method that you entered. |
Resource prices#
Besides standard unit costs, you can calculate direct unit costs on resource cards. The calculation is based on the following formula:
- Personnel Cost Rate + Personnel Cost % + Personnel Ovhd. Cost = Direct Unit Cost
- Direct Unit Cost + Indirect Cost % = Unit Cost
Both the unit cost and the direct unit cost can be used to estimate the value of a project.
You can also choose the Update Personnel Ovhd. Cost function to recalculate the unit cost and the direct unit cost of several resources at once.
The new overhead is entered on the Options FastTab. You can set filters on the Resource tab if you want to update only certain resource records.
Post template-based measurements#
One way for you to measure the value of a project is to use templates that contain rules specific to a certain accounting standard.
Note
You need a valid license to work with measurement templates.
Create measurement#
You create a template for measuring project values by using the Create Project Measurement function on the Project Measurements page.
On the Measurement Method FastTab, you can then specify for what projects you want to estimate a financial value. You also need to select a month (for example, 01/01/25 for January 2025) on the Options tab.
Note
Turning on the Post toggle on the Options tab immediately posts the template (as a project measurement entry, not in Finance) after it has been created. Don’t turn on this toggle if you want to check templates before posting.
If you turn on the Data Transfer toggle, the template is marked as posted to Finance so that the values determined or posted for the project are no longer copied to financial accounting.
This is especially relevant when you create a template to record the status of a data transfer. In Finance, measurement entries are typically posted alongside other account balances so that posting the template to an account would create duplicate measurement entries.
Review and post measurement#
To see a measurement that you created before posting:
- Choose the search icon, enter Projects, and then choose the related link.
- Open a project card and choose Related > Project > Measurement > Project Measurement.
- Alternatively, choose the Search icon, enter Project Measurements, and then choose the related link.
The template shows you all values measured for a certain accounting standard. For values that were calculated based on a formula, you can run the Show Computation Log action from the Lines FastTab ribbon to see both the formula and the subtotals. If necessary, you can also delete the unposted measurement and create it from scratch.
After you’ve reviewed the measurement, you can choose Post on the ribbon. This creates the entries required for posting measurements to Finance.
To post multiple measurements at the same time, you can choose the Post Measurements function on the Project Measurements page. You can set a filter on the function to limit what measurement to include.
View posted measurements#
To see a measurement that you posted:
- Choose the search icon, enter Projects, and then choose the related link.
- Open a project card and choose Related > Project > Project Measurement > Posted Project Measurements.
- Alternatively, choose the Search icon, enter Posted Project Measurements, and then choose the related link.
Afterward, you can choose Related > Posted Project Measurements > Measurement Entries on the ribbon to see the entries created for a measurement.
The G/L Integration field there shows you the postings created in Finance by running the Post Project Work In Process to G/L batch job, with the Measurement Amount field indicating the amount to post. The Posted Measurement Amount field is filled in after the batch job is run.
For a measurement value calculated based on a formula, you can also run the Show Computation Log action on the Lines FastTab ribbon to see both the formula and the subtotals on the posted measurement.
Post WIP#
For posting to Finance, you need the Post Project Work In Process to G/L batch job. On the Project FastTab, you can set filters to limit the projects for which you want to run the function.
On the Project Measurement Entry tab, you can then filter for a measurement method and a posting period. If you like to post IFRS and HGB measurements separately, you need to enter a suitable filter in the Meas. Method Code field on the tab. The filter in the Posting Date field should be set to the end of the month, for example 31/01/21.
On the Options tab, you can choose if you want to post per measurement entry or per project. Please note that the Project option might result in totals being copied to Finance.
You can then fill in a posting date, a document number, and a posting description (in which %1 is replaced with posting type WIP or Revenue and %2 with a posting group, such as IFRS or HGB).
The Post toggle on the page determines whether entries are posted, previewed, and printed. Leaving it turned off will only display and print the report without posting the entries.
Afterward, you can select the Preview button to check what you posted to Finance.
Note
With the Post toggle turned on, the standard Preview function isn’t really a preview either, as it is used to start posting to Finance.
To see the values posted to G/L Integration accounts in Finance, use G/L integration and select an entry there to open the journal that you last posted to.
For more information about posting-related accounts and records, see Measurement Templates.
If you filtered for a measurement method on the Project Measurement Entry FastTab, you must rerun the Post Project Work In Process to G/L function for each new method.
Close a project#
To post revenue to Finance, the status of a project must be set to Closed. Alternatively, you can turn on the Final Invoice Created toggle on the project card.
Note
You can no longer post to completed projects, but you can post to projects for which a final invoice was created. However, you should only post to these projects if necessary, such as when you need to settle warranty claims or perform rework, as they will no longer be included in measurements.
This means that once a project is set to Completed or Final Invoice Created, it will no longer be part of new measurements for calculating WIP.
Suggest measurement for revenue recognition#
Completed projects or those for which final invoices have been created must have their revenues recognized through the Project Measurement Jnl. page before they can be posted. You can use the Recognize Revenue function on the ribbon for this.
On the Project FastTab, you can set filters to specify the projects that you want to recognize revenue for. On the Project Measurement Method tab, you can set a filter on a method if you want to provide separate revenue suggestions for IFRS and HGB measurements, for example. On the Project Measurement Entry tab, you can set filters to suggest only certain WIP entries for recognition.
On the Options tab, you enter a posting date, a document number, and a description (in which %1 is replaced with the posting date). The function suggests for recognition all entries created from WIP measurements.
Posting the journal will not lead to postings in Finance, as the process creates only project measurement entries for revenue recognition. You can see the entries for a project by choosing Posted Project Measurements or Measurement Methods on the project card.
Post revenue recognition#
Afterward, you must copy the measurement entries you want to recognize to Finance by running the Post Project Recognition to G/L batch job.
On the Project FastTab, you can set filters to specify the projects that you want to recognize revenue for. On the Project Measurement Method tab, you can set a filter on a method if you want to provide separate revenue suggestions for IFRS and HGB measurements, for example. On the Project Measurement Entry tab, you can set filters to suggest only certain WIP entries for recognition.
On the Options tab, you can choose if you want to post per measurement entry or per project. Please note that the Project option might result in totals being copied to Finance. You can then fill in a posting date, a document number, and a posting description (in which %1 is replaced with posting type WIP or Revenue and %2 with a posting group, such as IFRS or HGB).
The Post toggle on the page determines whether entries are posted, previewed, and printed. Leaving it turned off will only display and print the report without posting the entries. Afterward, you can select the Preview button to check what you posted to Finance.
Note
With the Post toggle turned on, the standard Preview function isn’t really a preview either, as it is used to start posting to Finance.
To see the values posted to G/L Integration accounts in Finance, use G/L integration and select an entry there to open the journal that you last posted to.
For more information about posting-related accounts and records, see Measurement Templates.
Undo measurements#
Posted project measurements can be reversed.
Cancel measurements#
To undo a measurement:
- Choose the Search icon, enter Project Measurements, and then choose the related link.
- Select a measurement and choose Actions > Correct Posted Measurement on the ribbon.
- Alternatively, choose the Search icon, enter Correct Posted Measurement, and choose the related link.
We strongly recommend that you set a filter on posted project measurements to specify which measurements you want to cancel.
Example
To correct HGB measurements from February 2025, you need to set at least the following filters:
| Meas. Method Code: | HGB |
| Posting Period: | 01/02/25 |
When you choose OK, the function deletes all selected measurements (their headers and lines) and sets the measured amounts stored with posted entries to 0. Additionally, the Corrected Amount field is filled in with the measured amount that was posted to the relevant entry up to that point.
Cancel posted measurements in Finance#
The corrected entries must now be retransferred to Finance so that the difference between the measured and posted amount is included in financial accounting.
Having set the amount to 0, the amount previously transferred to Finance will then be corrected through a reversal posting. To reverse a posting, you need to rerun the Post Work In Process to G/L batch job (see section Post WIP).
Example
For posting a correction regarding the cancelled HGB measurements from February 2025, you need to set at least a filter on the measurement entries:
| Meas. Method Code: | HGB |
| Posting Period: | 01/02/21..28/02/25 |
Note
The filter should be the same as for canceling the posted measurements. If the document number or posting description are the same in both instances, they might give an indication of why the measurement was cancelled.
Recreate measurements#
Cancelled measurements can always be recreated, reposted, and recopied to Finance.
Post project ledger measurements#
Postings for project usage and sales aren’t automatically transferred to Finance but are only copied when you run the relevant batch job.
When posting measurement entries, a distinction is made between posting WIP and recognizing revenue. A project is linked to financial accounting, for example, to compare inventory consumption, salaries, and other amounts with work in process. At the end of the period, the value of ongoing projects must be reported on a balance sheet for accounting purposes. A batch job is available for both WIP and revenue recognition.
When a project is (partially) completed, work in progress needs to be recognized as revenue. Revenue recognition entries offset the amounts posted to work in process accounts and copy them to the G/L accounts that store project sales and costs.
Measure project ledger entries#
Project ledger entries are often the basis for HGB-compliant measurements. Based on unit costs, this measurement method recognizes revenue at the end of a project.
Calculate WIP by project ledger entry#
To use this method, you first need to open the relevant project ledger entries on the project measurement journal and create measurement entries. You then need to copy and post these entries to Finance.
When you run the Measurement Suggestion function from the measurement journal to open the Project WIP Worksheet, you can enter individual projects to be considered by the batch job in the No. field on the Project FastTab. If you leave the field blank, WIP will be calculated for all measured projects.
You can then specify the method for measuring WIP on this worksheet in the Meas. Method code field on the Project Measurement Method tab. If the field is left blank, all methods are included in the calculation.
On the Options tab, the Measurement From and Measurement To fields can be used to enter a period during which entries need to have been posted to be considered for WIP measurement. You also need to enter a posting date, a document number, and a posting description on this tab.
Note
Placeholder %1 can be used in both the Document No. and Posting Description. It is later replaced with the posting date.
Choose OK to enter the measurement suggestion in the project measurement journal.
If a journal is filled in through this batch job, you typically don’t need to make manual changes to the data. But if the information entered for the batch job is incorrect, you can manually delete lines from the journal and rerun the function.
An example of what a measurement method for posting WIP based on project ledger entries might look like can be seen in the following table.
| Field | Description |
|---|---|
| Code | HGB-L |
| Description | HGB (Ledger Entries) |
| G/L Integration | Selected |
| Measurement Template | Not Selected |
| Measurement Base | Project Ledger |
| WIP Method | Costs |
| Calculate | Usage |
| Recognition method | Completed Contract |
This method is used to measure project ledger entries of the usage type at unit costs. If necessary, the values are copied to financial accounting.
The method ensures that only usage entries are copied to the journal. Ledger entries of type Sale aren’t considered in this context. The measured amount will be retrieved from the Unit Cost field of a project ledger entry. The unit price serves only informational purposes here.
Posting work in progress then creates measurement entries that you can see when you open the relevant project, as each measurement entry is linked to the measured project ledger entry through the Project Ledger Entry No. field. The project ledger entry also stores the WIP amount.
On the project card, you can choose Related > Project > Measurement > Project Measurement to open a matrix that shows you the measurement status of the project. The posted entries are visible in the WIP column during the selected posting period. You can use the lookup in each field to take a closer look at an entry.
Incorrect measurement base
You can perform a second measurement if a wrong measurement base was chosen. However, only project ledger entries not included in the previous measurement are used for this. The measurement method that you used must also be changed accordingly and reassigned to the project. Canceling posted measurements isn’t possible.
Post WIP to Finance#
The measurement entries that were created through the measurement journal, which only affected the Project area, can now be copied to Finance by using a batch job. In this context, it is important that the G/L Integration checkbox (specifying the method and area of measurement) has been selected for all entries you want to copy.
The values are then transferred to Finance by entering Post Project Work In Process to G/L in the general search field and choosing the relevant link. Individual projects can be selected for inclusion in the batch job on the Project FastTab. You can also set filters on other fields of the project table here.
On the Project Measurement Entry FastTab, you can set filters on individual entries. We recommend that you limit only the period for inclusion here, as the entries are already filtered through the journal.
On the Options tab, you select the method that you want to use for posting. You can create a G/L entry for each measurement entry here or one G/L entry for all of them. You also need to enter a posting date to specify when entries should be transferred to Finance, a document number, and a posting description.
The Post toggle is used to determine if you want to preview WIP calculation (toggle turned off) or whether the posting should already be made.
Afterward, choose Print or Preview at the bottom of the page to start the posting or preview process. This will show you a report listing the work in progress.
After WIP has been posted to Finance, you can open a project card and choose Project > Related > History > Measurement Entries on the ribbon to see the postings. When you post work in progress, the system will update the Posting Date field for the relevant measurement method. The project measurement entries included with the posting are updated in the Posted Measurement Amount field.
In the Finance area, the individual records have been posted as well. As the posting method selected for Post Project Work In Process to WIP was Per Project Meas. Entry, the system posted a great many records.
The posting process is identical when you measure project completion. You only need to first calculate completion values for the period under consideration so that they’re included when you run the measurement suggestion from the journal page.
Posting to Finance also works in the same way despite completely different account assignments.
Recognize revenue by project ledger entry#
For revenue recognition, it is important when revenue is recognized, that is, whether it is recognized based on the percentage of work completed or at completion of the contract. If you use the Completed Contract method, the status of the project must be set to Completed. You can then run the Recognize Revenue from the measurement journal.
The date of revenue recognition is specified on the Options FastTab. You also need to enter posting date, a document number, and a posting description there. On the Project tab, you can filter for specific projects or, if you leave the Project No. field blank, use the function on all projects.
On the Project Measurement Method tab, you can set a filter on measuring methods or, as before, leave the field blank to include all methods.
The Project Measurement Entries tab, on the other hand, can be used to filter for certain posted project measurement entries. In the Entry Type field, you can select either Usage or Sale. If the field is left blank, all entries are considered for revenue recognition.
As was done when posting WIP, the project measurement journal must now be posted. The recognized project ledger entries can then be found in the project measurement matrix in the Recognition column.
Post revenue recognition to Finance#
Following revenue recognition in the Project area, the entries still need to be posted to Finance. For this purpose, you can choose the Post Project Recognition to G/L action.
If necessary, you can limit recognition to specific projects on the Project FastTab. On the Project Measurement Method tab, you can specify for which method you want to recognize revenue.
On the Project Measurement Entry tab, you can select the measurement entries that you want to transfer to Finance for revenue recognition.
On the Options tab, you can specify whether you want a G/L entry created for each measurement entry or if you want to aggregate the measurement entries into one G/L entry in Finance. Additionally, you need to fill in the Posting Date, Document No., and Posting Description fields on the tab.
With the Post toggle turned on, revenues are then posted to Finance. Leaving the toggle turned off will generate only a test report.
As was the case when you posted WIP, the system creates numerous G/L entries in Finance when you recognize revenue.
Post progress measurements#
Measuring progress is largely identical to measuring project ledger entries. For this reason, only the differences between them are explained in the following.
Calculate project completion#
Project progress is calculated by choosing Related > Project > Measurement > Completion on the project card ribbon. You then use the Estimate Completion function on the page that opens to create completion lines.
Calculate WIP based on completion#
For measurements based on project completion, a suitable measurement method must be created for projects. Crucial in this context is the Measurement Base field, where you must select the Completion option.
As was the case for measuring project ledger entries, you first run the Measurement Suggestion function on the Project Measurement Jnl. page. Note the filter set on the Posting Date field, as the focus has now shifted to completion values.
All subsequent steps (posting the project measurement as a project measurement entry and posting this entry to Finance [if the relevant journal gives you the option of doing so], recognizing the entry and posting recognition to Finance) are the same as for ledger entry-based measurement.
Analyze measurements#
The measurement functionality also provides you with options of analyzing the data relevant to determining the current value of a project.
Gross profit and loss report#
This report shows you the lines and values for a posted measurement (for example, based on IFRS or HGB and a specific month). A line is only included on the report if the Show checkbox has been selected for it in the measurement template.
On the Project Dim. Value Report Buffer FastTab, you can first specify the dimension by which projects on the report are grouped. In the Dimension Value field, you can then enter a value to show only projects where the value has been assigned as a default dimension (such as range 30). You can also limit what projects you can see by setting a filter in the Project No. field.
On the Options FastTab, you need to enter a date so that you see only measurements valid in that month. In the Meas. Method Code field, you need to enter the code of a measurement method that will be included on printouts.
Additionally, with the Preview toggle turned on, the report will show both posted and created but not yet posted measurements on the report.