Click Go to post the selected jobs.This function streamlines the process of recognizing revenue and making job WIP postings to GL.
IMPORTANT:
Although this function is prevented from running if invoicing is process when it is started, it is possible invoice after this function has started. Invoicing should NOT be done for the month that you are closing while this function is running. Doing so may result in previously posted invoices appearing on a subsequent run.
This function may be run multiple times for a month. On iterative runs this function already knows what has already been posted for this month and will calculate the net when creating the GL posting line.
See Registry Job EOM Process (sys-job-eom) .
See Registry to Use Job Date Completed for an alternate way of triggering the Job EOM processing for Small Jobs.
Use this function in conjunction with Update Job Progress and Budgets. We strongly advise that you consult with your support representative on the optimal manner to use this function for your firm's particular setup.
This function is in line with Expense Account posting from the WO Inventory tab. By default, the GL Expense account is set from the Inventory Group record. The Job Cost EOM also to recognizes the there might be a GL Income Account in the Cost Category and includes it in the computations. Job EOM writes the Work Order Reference RN to GL History to help users tie out financials to a Work Order.
All billing items attached to service compute jobs are treated as T&M, regardless of the Fixed Fee flag setting.
Validation prevents Jobs with missing GL information from being posted. If you attempt to select or click the Go button if this situation exists, the system will display the error “Job (Job Id) has detail lines that are missing GL Accounts” and will not allow the post to proceed with the illegible lines flagged.
Hint: The sys-job-eom registry entry or the cost category should be examined if this message is displayed.
GL Account from Vendor: if Job Cost Categories do not specify a GL Expense account, the GL account will pull from the Vendor. Note that Inventory is a special case where the Expense Account might come from the Inventory Group depending on registry settings and other conditions. Otherwise, the normal progression for all cost types is (1) Cost Category; (2) Cost Code: (3) 'glcos' registry setting; (4) the Vendor record; (5) nothing.
Billing Items that haven't been billed require EOM Under-billed Revenue Adjustments. These adjustments should be as smart as the compute GL computations used in the Record Billing Adjustments function. The system allocates the Earned Revenue (under-billed) across relevant Cost Codes by (a) Contract Amount Invoiced, or (b) Budget Revenue, or (c) Unbilled Costs, or (d) Projected Costs.
Note: See Registry to Use Job Date Completed for an alternate way of triggering the Job EOM processing for Small Jobs.
Costs and Revenues are not recognized on a Small Job until the Job Date Closed is set. If the Job's Contract Type is set to Small Job, Start Job EOM will automatically use a special WIP method that will accrue revenue and costs until the Job Date Closed field is manually set by a user. If costs and or revenues are found for an open Small Job (Job Date Closed is blank) they will be debited/credited in the current accounting period and automatically reversed in the next accounting period.
If the job is closed in the current EOM period (Job Date Closed not blank) the Start Job EOM will attempt to recognize any unbilled revenue for this job (Contract amount from billing items), reversing this transaction in the 1st day of the next accounting period. When the job is billed complete no further Job EOM process takes place.
Note: DB Underbilling - CR Income
The G/L accounts used for the posting are set via the sys-job-eom registry.
Open Job Billing Item Change Requests (CORs) are included in the EOM processing. They are treated as Fixed Fee with the Contract Amount adjusted by Percent Likelihood. Change Requests will be processed by the EOM function if:
Date Approved & Date Declined = 1900-01-01
CO Amount & Percent Likelihood <> 0
A registry entry enables you to override the default behavior, and instead derive the GL Expense Account assignment from the Cost Category for both Job EOM and the WO Inventory tab. This registry entry (for sys-viewer-vwrkordr) is discussed in Registry Entry Work Order Options.
Period Id:
Select an Accounting Period to post the entries to: this can be a closed accounting period. Note that the Accounting Period End Date must precede the Reversing Accounting Period Start Date.
Period Start: Period End: Period Status:
These display-only fields default from the accounting period record you selected.
Reversing Entries
Period Id:
Enter the accounting period that reversing entries should be assigned to (e.g., for unbilled T&M costs).
Period Start: Period End: Period Status:
These display-only fields default from the period record you selected for reversing entries.
Show all Jobs?
By default, ONLY jobs with (a) unbilled costs or (b) revenue to recognize will be impacted by this function. Check this box (by double-clicking or pressing Spacebar) if you want the checklist to show all Jobs, regardless of whether they have unbilled costed or revenue to recognize.
WARNING: Check this box may result in extremely long processing times. This function should NOT be run wide open with this box flagged.
Job Id:
To limit the end of month entries to a specific Job, enter the appropriate Job Id. To generate end-of-month entries for a range of Jobs, enter the first and last Id's of the range separated by an underscore (ACME_ZENITH). Several Id's can be specified by separating their Id's with a comma (ACME,MESA,ZENITH).
Project Id:
To limit end of month entries to Jobs belonging to a specific project, enter the appropriate Project Id. To generate end of month entries for a range of Projects, enter the first and last Id's of the range separated by an underscore (ACME_ZENITH). Several Id's can be specified by separating their Id's with a comma (ACME,MESA,ZENITH).
Job Type Id:
To limit end of month entries to Jobs that have a specific Job Type, enter the appropriate Job Type Id. To generate end of month entries for a range of Job Types, enter the first and last Id's of the range separated by an underscore (ACME_ZENITH). Several Id's can be specified by separating their Id's with a comma (ACME,MESA,ZENITH).
Close Date:
To generate entries only for those Jobs with a specific Date Closed, enter the date in yyyy-mm-dd format. To generate entries for a range of Close Dates, enter the first and last dates of the range separated by an underscore (2003-01-01_2003-01-31).
When you click the Go button, the system will compute a list of entries, and display the following Checklist screen.
Note that this screen enables you to confirm the post as well as view and adjust the detail on each job.
Post:
This field enables you to select which job entries will be posted. By default, no jobs are selected.
Double-click on the Post field to select or deselect an item (alternately, press the spacebar when the caret appears on this field); a check appears in the Post field when that job is selected.
Job Id: Job Name:
These display-only fields identify the job to be posted.
Revenue Adjust: Unbilled Cost:
These fields display the system's calculation for the end of month posting. Note that you can override these values by clicking the View Detail button to edit in the detail view.
Click Go to post the selected jobs.
Click the Check button to check every item on the list.
Click to clear every item on the list.
Click to display a work space viewer summary of this job.
Click to verify (and adjust) the posting detail (discussed below) for the selected job.
The upper portion of the screen displays the Job Id and Name, and the system's calculation of the Revenue Adjustment and Unbilled Cost. The lower portion of screen enables you to adjust the posting detail.
Bill Item: Cost Code: Cost Category: Entity:
GL Debit: GL Credit: Amount:
The system will attempt to complete these fields for both the "Recognize Contract Percent Completion" and the "Transfer T&M COS to WIP" autogenerated lines. Fill in or change all fields as needed. Note that you may Add, Insert or Delete lines.
Click the Magnify button to access a Billing Item summary for the selected line.
Click the List Button to return to the main Checklist screen.