Reverting the transaction status from 'Selected for credit note' back to 'Invoiced'

I just now came to know a way of reverting the SAME project transaction which is in 'Selected for credit note' back to 'Invoiced'.

When the project transaction is invoiced, the 'Transaction status' is changed to 'Invoiced':

When you select the transaction for credit note, the 'Transaction status' is changed to 'Selected for credit note'

I was wondering how do i put this 'Transaction status' back to 'Invoiced' as i selected the transaction mistakenly for credit note.

I got to know this today from one of my colleague. The solution is to just run the process again and 'Deselect' the transaction, which will revert the 'Transaction status' from 'Selected for credit note' to 'Invoiced'.

When clicked 'Ok', the system reverts the 'Transaction status' from 'Selected for credit note' back to 'Invoiced'.

The reason for knowing this was, i was getting stuck while posting an estimate on a % complete fixed price project. The on-account transaction based on which system calculates the accrued revenue was in the 'Selected for credit note' state and hence system was giving the error :

"On account cannot be chosen for type project and ID". 

Had i known this process of reverting the transaction status back to 'Invoiced' i would have been successful in posting the estimate.

Thanks 

Kind Regards

Sarang

Two IMP things to remember before a presentation - from posting perspective

The reason to write this post is to take a not of a major disaster i faced while i was presenting the solution to bunch of individuals, who were supposed to test it later and ingrain that learning so that i never forget again.


Batch transfer rules

This small setting can take your presentation to an all together different disastrous path. I had my presentation planned in the afternoon and i tested the complex custom-built functionality since morning, thrice and it all worked perfect, the way it should. The postings were correct, the vouchers were correct, the accounting was correct. I tested the entire end-to-end process and i was so convinced that i would rock the presentation as i was confident about everything and i believed that i really have understood the process and i can deliver the same with that passion and energy. I started my presentation confidently and the moment i posted the first (expense) transaction, i just clicked on the voucher to show the users which accounts are debited and credited. When i clicked on the voucher, it was blank and i was so surprised and sad to see that. The functionality which was working 10 mins back, which i did test (and not once) since morning, what happened suddenly, i could not believe. But as i had previously posted transactions i continued. However i was depressed and my entire presentation was then carried out in a "not so good" manner, though i tried to save the situation by showing previously posted transactions, along with some wit and humor.

After the presentation was over, whilst we were technically trying to find out what must have gone wrong, the technical consultant, finally found out the cause. He said that within those 10 mins before presentation, someone changed the setting of the "Batch transfer rules" from SYNCHRONOUS to SCHEDULED BATCH. I knew this setting but i completely forgot when the fiasco happened in front of the audience. The biggest learning for me, from this incident is, always have a plan B ready, you never know what could go wrong, even if everything is tested and all is working before the presentation. Second most important thing which now i have made a mental note is, to always check for this parameter FIRST whenever i will not see a voucher for a posted transaction in future.

Posting Profile setup in parameters

I mostly work on the projects side of things in the application, hence sometimes you tend not to remember the settings in the other modules. And when that happens then you waste lot of time and energy investigating the issue related to that. "Posting Profile setup in parameters" is kind of basic setting for the people working in the 'Trade and logistics' space, but because projects span across many modules in AX and because you tend to focus more on the settings in that area, you need to forget this sometimes. Also because these settings are mostly done by other team, hence you tend to assume that the settings are in place and this then leads you to forget those settings. Enough of introduction now.

The customer and supplier posting profiles were all in place, with all the necessary accounts etc. even after that when i was processing the supplier invoice, i was getting this error:

"The transactions on the voucher XXXX do not balance as per . (accounting currency: $ - reporting currency: $ "

People working in AX domain will know that something is wrong either with posting profile or with exchange rate. I checked both (supplier posting profile) and all looked fine. The only thing i did not check was whether that same posting profile is configured / called in the parameters. Once that was done, the error was gone and it was all good. The learning for me this was, that not only to check the posting profiles but also to check whether they are called from the respective parameters.

The reason to write these trivial things down was to avoid re-inventing the wheel in future, if at all, i face another memory loss with respect to these settings and errors. :-)

Thanks

Sarang

Accounting distributions VERSUS Source document

I have summarized the system behavior for "Accounting distributions" and "Source document" parameter setting in General Ledger module in the form of an excel table, for easy understanding and future reference. The example below is to explain the dimension initialization on the vendor invoice, with respect to the setting and its impact on the postings done to the general ledger.

Account distributions - The posting to the summary (Accounts Payable aka AP in this case) will always take the dimension from the Purchase order lines.

Source document -  The posting to the summary (Accounts Payable aka AP in this case) will always take the dimension from the Purchase order header, which is initialized on the Purchase order, from the Vendor master (hence the parameter name is called 'Source document') and which can be changed on the Purchase order header .

Thanks

Sarang

Item requirements, Chargeable categories and No project transaction voucher

I would like to quickly register the three important points that i encountered.

1. Item requirement record on Project record

When all the three parameters are switched on for auto creation of item requirement record (for cost consumption on project on product receipt) on project, we expect the 'Item requirement' and eventually the Sales order record to be auto created and we tend to search the item requirement record at Project management and accounting > Project > All projects > Project record > Plan tab > Item requirements > Item requirements.

However no item requirement record is seen there in the new version of AX. Instead ONLY a Sales Order record is silently created and can be seen at Manage > Related information > Item tasks > Sales orders. Not sure whether this is a bug but this is how the system is behaving now.

So when the Product receipt is posted on the project PO, the accrual postings can be seen in the voucher created for the receipt and the project cost consumption voucher can be seen on the delivery note on SO.

2. Chargeable categories

When the user navigates to the project contract record to create the billing rule, the user needs to select the 'Chargeable categories'. However when i was trying to do that on a newly configured system, i could see no categories in the 'Available categories' section. I quickly realized that some setup was missing. And then found out that the setup that was missing was the 'Active in journals' checkbox. Once that was clicked, the categories started appearing in the 'Chargeable categories' section.

3. Voucher not seen on the posted project transactions

There can be many reasons for the voucher not seen. But the first thing in this case that should be checked is whether the posting parameter is Synchronous, Asynchronous or Scheduled batch. If the setting is Asynchronous or Scheduled batch, then the voucher will only be seen after the posting has happened from the sub-ledger to general ledger. Hence this setting should always be Synchronous. By default when the company is created in AX, the default setting is Scheduled batch.

Thanks
Sarang

1. Project management and accounting
2. Projects
3. All projects

Product receipt postings with and without Item Requirement on the Project

Item requirements NOT used on the project

When the Item requirements are not used on the Project, then at the time of Project PO receipt postings, cost is not consumed on the project. Please find below the postings at the time of product receipt and supplier invoice.

PO created for an Item A for GBP 4000.

PO receipt postings

Dr Cost of purchase material received 4000
   
      Cr Purchase accrual 4000
   


PO invoice posting

Dr Project Cost 4000
      Project WIP cost item 4000
      Purchase accrual 4000
      Cost of purchase materials invoiced 4000
      VAT 800  

      Cr  Stock Issue 4000 
            Project cost item 4000
            Cost of purchase material received 4000
            Supplier 4800

Stock Issue posting is taken from:

Stock management > Setup > Posting > Posting

Item requirements used on the project

When the Item requirements are used on the Project, then at the time of Project PO receipt postings, cost is consumed on the project. Please find below the postings at the time of product receipt and supplier invoice.

PO created for an Item A for GBP 4000.

PO receipt postings

Dr Cost of purchase material received 4000
      Project WIP cost item 4000
      Project Cost 4000

      Cr Purchase accrual 4000
            Project cost item 4000
            Cost of units invoiced 4000


PO invoice posting

Dr Purchase accrual 4000
      Cost of purchase materials invoiced 4000
      VAT 800  

      Cr Cost of purchase material received 4000
            Supplier 4800

Cost of units invoiced posting is taken from:

Stock management > Setup > Posting > Posting

If you compare both the postings you will notice that the postings are almost the same other than timing of them getting posted in the system.For the product receipt posting where the item requirement is used, the additional posting of the project costs are the ones which are posted normally at the time of invoicing when the item requirement is not used.

One other difference is the use of  'Cost of units invoiced' instead of 'Stock Issue' at the time of posting the receipt when the 'Item requirement is used. The reason the posting is taken from Sales Order section is, Item requirement creates a SO in the background to get this cost posting on to the project. It replaces the 'Stock Issue' posting highlighted in RED above with the  'Cost of units invoiced' .


Latest update (29th July 2019)

The above postings are seen when the costs are set to go to 'Balance'. If the costs are set to go to 'P&L' then the following postings are seen for "Item requirements used on Project":

PO receipt postings

Dr Cost of purchase material received 4000 
      Project Cost 4000 
     
      Cr Purchase accrual 4000 
           Cost of units invoiced 4000 


PO invoice posting

Dr Purchase accrual 4000 
      Cost of purchase materials invoiced 4000 
      VAT 800   

      Cr Cost of purchase material received 4000 
            Supplier 4800

The interesting thing is though this is an 'Item' type of posting, no posting is to be set for 'Cost - item' and 'WIP - cost value - item'. Ideally, as the project 'Item' costs are set to go to 'P&L' but still no postings are posted, in this case, to 'Cost - item'. Does anyone know whether what i have inferred based on my testing, is correct or not? Please let me know if I am wrong here.

One more interesting thing is, on the 'Stock' posting side, even though postings are not required for 'Purchase expenditure for expense' and 'Purchase expenditure, un-invoiced' system still demands it. I got rid of this issue by setting an error / temporary account (which is out of reporting range).

If I get any further information on this topic, will update.

Thanks
Sarang

Item setup with respect to Procurement category and Project Category.

Item to Procurement category relation

Many items can be a part of single Procurement category. This relation can be obtained by attaching each item with the procurement category from the 'Product categories' option on the 'Setup' tab on the action pane.

When the PO is to be created for all the items related to one procurement category, then on the PO header, the click on the 'Add products'.

This will display the below window, wherein the user will have to select the appropriate procurement category and then the items related to it to be included in the purchase order and then click OK.

This will create relevant lines in the PO with different items linked to the same procurement category.

Note:

1. PO created for Items linked to Procurement category - When the posting setup is done for item as well procurement category, then in the case where the PO is created for the different items but same procurement category, the posting setup against the individual 'Item' will be used.
2. PO created for Items  - Posting setup against the individual 'Item' will be used.
3. PO created for Procurement category - Posting setup against the individual 'Procurement category' will be used.

Item and Procurement category to Project category relation

Items and Procurement categories can be linked to the project categories, so that they can be used for postings in the projects.

Project category is setup on the Item at:

Project category is setup on the Procurement category at:

Product information management > Setup > Categories and attributes > Category hierarchies

Thanks
Sarang

Project postings with Billing Rule

When Progress Billing Rules are used on the Time and Materials project, then the following things should be kept in mind:

1. The postings setup at the group level for On-accounts and Fee, does not matter. The revenue is directly posted to PNL.

Revenue is posted to à Invoiced revenue (CR)

Accounting entry is as follows:
                       DR Accounts Receivable

                           CR Invoiced revenue

                                        CR VAT payable

2. When the billing rules are used, the revenue cannot be accrued even if the 'Accrue revenue' is checked on the 'Line property' and in the 'Project group' against individual transaction types. With use of progress billing rule on the time and materials project, there is no way one can accrue the revenue, if at all during the month end there is no billing and the user wishes to accrue the revenue. The problem with this kind of behavior is the costs are posted to PNL but the revenue cannot be accrued, if there is no billing at the month end.

3. Chargeable categories on the billing rule are of type 'Hours' and 'Item' ONLY. Not sure why but this is how standard system works. The implication of this is, that for 'Progress' billing rule if the budget is defined for hours and expenses and the transactions posted for the same, when the invoice proposal is created the revenue / invoice amount is calculated with respect to Hours transactions only. The calculation does not take into consideration the expense transaction.

The ‘Chargeable’ categories in the Billing Rule only allows Hours and Items categories. Expense categories are not allowed, rather they are not even there for selection.

With this I created a project with Budget and Billing rule as below:

Hours – 10,000 – Account Admin

Expense – 10,000 – Travel air

Total budget of 20,000.

Billing rule contract value – 100,000

I posted an expense journal of 4000 and created an invoice proposal. No invoice amount was calculated by the system as expense categories are not allowed in the chargeable categories.

I posted an hours journal of 5000 and created an invoice proposal. This time the invoice proposal is for 50,000, as the % complete is 50%. (5000 against 10000)

But this standard behavior of billing rule with respect to expense seems to be wrong as from a total budget perspective I am 45% complete (9000 against 20000).

4. When the billing rule is used on the time and materials project, then even if the transactions are posted as 'Chargeable' / 'Bill' (.i.e. line property = Chargeable), when they are actually posted on the project the invoice status changes to 'Non-chargeable'.

Hours transaction set to go to 'PNL' on project group and Line property = Bill, for a project WITH 'Billing rule'

Hours transaction set to go to 'PNL' on project group and Line property = Bill, for a project WITHOUT 'Billing rule' 

Will update this post as and when more information is obtained about this area.

Thanks

Sarang

On account postings with respect to BS and PNL

On account set to à PNL 

Revenue is posted to à Invoiced – On account (CR)

Accounting entry is as follows:

DR Accounts Receivable

                           CR Invoiced – On account

                           CR VAT payable

On account set to à BS 

Revenue is posted to à WIP Invoiced – On account (CR)

Accounting entry is as follows:

DR Accounts Receivable

                           CR WIP invoiced -On account

                           CR VAT payable

On account set to à PNL with Deduction type transaction

Revenue is posted to à Invoiced – On account (CR)

Accounting entry is as follows:

DR Accounts Receivable

                           CR Invoiced – On account

                                       CR VAT payable

When deductions included at the time of invoice posting

DR Invoiced – On account  

   CR Invoiced revenue

On account à BS with Deduction type transaction

Revenue is posted to à WIP Invoiced – On account (CR)

Accounting entry is as follows:

DR Accounts Receivable

                           CR WIP invoiced - On account

                           CR VAT payable

When deductions included at the time of invoice posting

DR WIP Invoiced – On account

CR Invoiced revenue

Thanks

Sarang

Item requirement and Project PO receipt postings on project

Out of the box, whenever the project PO is receipted (Product receipt posted), the accrual transactions are posted on the GL (General Ledger) level but the cost is not posted on the project. The cost is posted on the project or consumed on the project only after the project PO is invoiced updated (Supplier invoice posted). To make the project PO receipt reflect on the project, there are parameters to be looked into. They are:

1. Include physical value on the Item model group
2. Create item requirement on the Project parameters
3. Item consumption on the Project parameter

'Include physical value' on the Item model group - This is a MUST if you wish the project to consume the cost at the time of product receipt. This parameter woks in conjunction with the other two parameters mentioned above. Assuming the other two parameters to be checked and assuming that this is NOT checked, then the relevant accounts will not be hit and the product receipt will have no impact on the project cost.

'Include physical value'

'Create item requirement' on the Project parameters - To allow the project to consume cost at the time of product receipt of the project PO, ITEM requirement is a MUST. If there is no item requirement, then the product receipt for the project PO, will not post any cost on the project. Item requirement can be created manually on the project as well. But the  significance of this parameter is, it creates the Item requirement record automatically, at the back of the project PO creation. The moment the project PO is created, the item requirement will also be created, if this parameter is checked. If 'Include physical value' is checked and 'Create item requirement' is also checked but 'Item consumption' is NOT checked, then at the time of product receipt the system will display a pop-up asking the user to click 'Yes' if he/she wishes to consume cost on the project.

'Item consumption' on the Project parameter - If the 'Create item requirement' is checked and if you wish to automatically consume the cost on the project at the time of product receipt, then user should check the 'Item consumption' parameter to 'Yes'. However if the 'Create item requirement' is turned off, but this parameter is turned on, the cost can be consumed on the project at the time of product receipt by creating the Item requirement manually and then posting the product receipt.

'Create item requirement' and 'Item consumption'

To sum the entire interaction between these 3 parameters and what needs to be done in each scenario with respect to the cost consumption on the project at the time of product receipt, i have created this table:

Three parameters and Project Cost consumption on Product Receipt

Thanks
Sarang

Dimensions on Project and Project Contract

Dimensions on the Project:

Department - 001

Cost Center - 002

Dimensions on the Project contract:

Department - 001
Cost Center - 003

Dimensions on the Hours, Expense, Fee, On-account transaction posted (from Project):

Department - 001
Cost Center - 002


Dimensions on the Project Purchase order (from Project):

Department - 001
Cost Center - 002

When the invoice is raised:

Dimensions on the Account Receivable / Trade Receivable are from Project contract

Department - 001
Cost Center - 003

Dimensions on the Revenue and VAT are from the Project

Department - 001
Cost Center - 002

If the dimensions are not mentioned on the project contract, then the dimensions on the 'Trade receivable' / 'Account receivable' will be blank.

Thanks
Sarang

Budget and Billing rule Contract value changes and its impacts

Edits in the Billing Rule contract value

Contract value in the Billing rule can only be changed till the time a project transaction is posted to the project. Once the project transaction is posted, the contract value on the billing rule gets non-editable.

Contract value is read-only

Edits in the Cost Budget 

In the example below:

Cost Budget = 10,000
Contract value = 100,000
Hours transaction posted = 4,000

Hence the percent complete is 40%. Therefore when the project invoice proposal was raised, the appropriate revenue amount of 40,000 was suggested by the system to be billed to the customer.

40% percent complete - Invoice value 40,000

However if the cost budget is changed / revised, after the first project invoice is posted, then the % complete calculation takes into account the new cost budget and compares the cost posted against the new budget amount.

Budget revision = 90,000
Hence total cost budget = 100,000
Hours transaction posted = 10,000

When the invoice proposal is created now, the % complete is calculated as follows:

Cost initially posted + Cost posted now = 4000 + 10,000 = 14,000
Total cost budget, after revision = 100,000
Hence the % complete = 14%
There revenue posted from the contract value of 100,000, as per the %complete should be = 14,000
But the revenue already posted on the project = 40,000.
Hence the system will suggest a credit note of 26,000, so that revenue posted on the project is in-line with the % complete.

Please refer the screenshot below:

Credit note created to match the revenue to the %complete

After knowing this i did one more test to confirm this behavior and hence created a new project exactly similar to the one above and did all the steps till the budget revision. However after the budget revision of 100,000 was done, did not post any transaction. Just directly created an invoice proposal, so as to see whether the system will match the revenue with the new %complete. The system did a credit note so as to match the revenue with the new %complete because of the revised budget.

Cost initially posted = 4000
Total cost budget, after revision = 100,000
Hence the % complete = 4%
There revenue posted from the contract value of 100,000, as per the %complete should be = 4,000
But the revenue already posted on the project = 40,000.
Hence the system will suggest a credit note of 36,000, so that revenue posted on the project is in-line with the % complete.

Please refer the screenshot below:

Credit note created to match the revenue to the %complete

Thanks

Sarang

Fee Billing Rule - Strange Behaviour

Fee billing rule also has some strange behavior. Will update this post once i find the right reasons for this behavior. But for now just wanted to note this behavior for future reference.

Fee billing rule can only be defined if there is an existing billing rule in place, which is other than fee or else you get this error message. This is a standard behavior, which is ok and accepted.

Error message when trying to create a Fee billing rule, without having any other billing rule created up-front.

Now that i have created a progress billing rule, i can then create a fee billing rule and can add the progress billing rule into it.

Progress billing rule added to the Fee billing rule, with fee percentage specified

 Now if a new project is created for the same project contract and if a new progress billing rule is created for the new project and if the user wishes to add the newly created billing rule into the already created Fee billing rule, then the system throws this error. This is what i found strange and also could not understand the error message and the logic behind it.

Error message highlighted, which states that Fee line can only reference a Fee line with a lower contact line number

There are two ways in which this can be handled.

First way is to add the project in the already created billing rule.

Adding a project to the already created billing rule

Second is to create a new fee billing rule and then add the new project into it.

New fee billing rule and adding a project to it

Also one last thing is, if the user tries to add a fee billing rule to the 'Selected items' in the fee billing rule, then the system complains and throws this error message. This is a correct behavior.

Error message when trying to add a fee billing rule to a fee billing rule

Thanks
Sarang

Progress Billing Rule - Strange Behaviour

This is just a post for me to remember the strange behavior about the billing rule functionality.

Whenever a progress billing rule is configured, for it to make it automatically calculate the % complete, all the projects till date should be selected in the 'Selected projects' section, with 'Chargeable categories' selected for the project configured in the 'Billing rules' section.

If all the projects till date are not configured then the system does not calculate the % complete automatically and that particular billing rule line is treated as manual progress billing rule line, with user having to define the % complete manually.

Not sure why the system behaves this way, but this is how it behaves as of now. More information to be added, if i get to know the 'WHY' for this behavior.

Please refer to the screenshots below.

Billing rule 76 with project selected in the 'Project' field in the 'Billing rules' section

Billing rules 76 with all the projects till date, selected in the 'Selected projects' in the 'Project' section

Billing rule 75 where all the projects till date, NOT selected in the 'Selected projects' in the 'Project section', hence system treated it as a candidate for 'Manual progress billing rule'

Billing rule 76 where all the projects till date, selected in the 'Selected projects' in the 'Project section', hence system treated it as a candidate for 'Automatic progress billing rule'

Thanks
Sarang

Receipt of a Non-stocked item versus a Stocked item

Receipt postings for the 'STOCKED' type of a project:

DEBIT Cost of purchased materials received          1000
            CREDIT Purchase expenditure, un-invoiced          1000
DEBIT Purchase expenditure, un-invoiced             1000
            CREDIT Purchase, accrual                                     1000

So effectively it is:

DEBIT Cost of purchased materials received          1000
            CREDIT Purchase, accrual                                     1000


Receipt postings for the 'NON-STOCKED' type of a project:

DEBIT Purchase expenditure, un-invoiced             1000
            CREDIT Purchase, accrual                                     1000


Thanks
Sarang

Use Tax and Line Property in WBS, Forecast and actual transaction

I have encountered two separate incidents related to use tax and line property, which are totally not linked to each other. Just wanted to note this down somewhere and hence this article.

Use Tax

I created a vendor record and attached a Sales Tax group to it. Then i created an item and attached an Item sales tax group to it. After that i created a purchase order and clicked on the 'submit' button to submit the record for approval. However i got this error:

One or more accounting distributions is missing a ledger account. Use the Accounting distribution form or the Posting profile to update the ledger account.

After reading this 'generic' message, i knew there was an issue with the accounts setup. So i checked the vendor posting profile, item posting profile and all seemed to be working fine. Then i checked the VAT setup as well. Checked whether the Sales tax codes are properly setup in both the Sales Tax group and Item sales tax group. I also checked the 'Ledger posting group' but all seemed to be ok. I tried and tried but couldnt really understand why this message was coming. Then i decided to navigate to the PO lines > Financials > Distribute amount. There i realized that i could see the ledger account for Line 1, but could not see any ledger account for the tax line. I was not able to figure out why. And this was only happening with one specific vendor and not with other vendors. This gave me a firm understanding that there is something wrong with the Sales Tax group. I checked the Sales tax group minutely this time and i realized that in this Sales Tax group, for the Sales tax codes, the 'Use tax' checkbox is checked. Then i checked the 'Ledger posting group' again and realized that in the ledger posting group there is a provision to define the 'Use tax' accounts, which i completely missed. I configured the 'Use tax' accounts in the 'Ledger posting group' and then submitted the PO successfully for approval.

Use tax (From wikipedia) : It is essentially the same as a sales tax but is applied not where a product or service was sold but where a merchant bought a product or service and then converted it for its own use, without having paid tax when it was initially purchased. 

For e.g.(From technet) : Assume that you order office supplies over the Internet. You receive an invoice for USD 500, which does not include the 6 percent sales tax that is applicable in the state where the goods will be used. When you enter the vendor invoice, enter a USD 500 credit for the vendor account and a USD 30 credit for the use tax payable account, for a total USD 530 debit for the Office supplies expense account.

Line property

I created a project and then imported the WBS into it from a template. The line property in all the lines of the WBS was 'No charge' because i wanted the project transactions to be non-chargeable. I defined all the cost and sales price for all the lines in the WBS and then pushed this WBS into project forecast. The reason to define the sales price for the non-chargeable transactions was i wanted to calculate the contract value from the same. I only had a 'Fee' line in the WBS with chargeable line property and sales price defined. After i pushed these WBS lines into forecast, all the lines were successfully transferred to forecast with respective line properties and cost&sales prices. I then started posting transactions, which obviously were non chargeable as i configured the ledger posting setup and the line property setup for the transactions such that the transactions are not chargeable.
However when i ran the project statement to see budget versus actual, in the revenue section i could only see the sales value of the Fee category from the forecast. I was wondering why is this happening, if i have defined everything correctly. I was expecting to see the total of sales price of all the lines of the forecast in the revenue section, however i was only seeing the sales price for the fee category only. Then i decided to change the line property of all the lines in the forecast to 'Chargeable' and then again ran the project statement. This time, to my surprise' i could see the revenue figure exactly how i wanted it to be .i.e. the total of the sales prices of all the lines in the forecast.

From this incident i concluded that the project statement with budget will always take into account the line property of the lines in the selected forecast model to calculate the revenue figure. However this still did not matter from the actual line property on the project transaction,as they were still 'Non-chargeable' because of the project-line property setup.

However for the fixed price projects, where there is WBS, Budget and Forecast all defined for the project, then in the project statement with budget, always the 'Budget' forecast model should be selected, so as to see the revenue figure. If you select the 'Forecast' forecast model, then the revenue figure will not be see, even if the line property is billable.

Thanks
Sarang

WBS and Project Budget - IMP Point

If the WBS is defined for the project and also for the same the Budget is also defined, then tracking of project can be done from the WBS as well as Budget. However there is a very minute and important catch here, which if not taken into consideration, the WBS and the Project Budget values will not match.

Whenever the WBS is created, it automatically creates the 'Activities'. However if there are sub-activities or sub-tasks, then the 'Header Activity' has NO 'Category' assigned to it, as seen in the screenshot below.

WBS Planning View

If the same WBS is imported to create a Project Budget, then the Budget is created for the 'Categories' in the WBS.

Project Budget Balances

However when the project transactions are created for the project, then the 'Activity' drop down displays the 'Header Activity' as well against which no 'Category' is assigned to it in WBS.

Hours Journal

Hence when the journal is posted, the 'Budget' is not updated but the WBS tracking / progress is updated and hence both seem to be out of sync.

See below the screenshots for 'Project Budget Balances' after the project transaction (Hour Journal) is posted for the SUB activity for whom the category is assigned in WBS.

WBS Tracking View

Project Budget Balances

See below the screenshots for 'Project Budget Balances' after the project transaction (Hour Journal) is posted for the Header activity for whom the category is NOT assigned in WBS.

WBS Tracking View

Project Budget Balances

Hence the only precaution to be taken is to make sure that while posting the project transaction, the selected 'Activity' is NOT the header activity.

Thanks

Sarang