Project Management

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Topic

    Mayur
    Generate Borrow and Lent for fix amount
    Topic posted August 12, 2019 by Mayur, tagged Capital Projects, Project Costing 
    13 Views
    Title:
    Generate Borrow and Lent for fix amount
    Content:

    Hi, 

    Currently we are using Borrow and lent functionality. 
    We are using Cost to Cost and cost plus amount to generate borrow and lent. For both method working as per expectation. 

    We have one more requirement. 

    We want to generate Borrow and lent every month for Fixed amount. 
    i.e. We want to generate borrow and lent transaction for GBP 5000 every month. 
    The actual project cost will be from OTL, Misc. transaction, purchasing, payable and Inventory modules. this amount may be GBP 4000 or GBP 7000. 
    But we want to generate Borrow and lent every month for GBP 5000.

    Example

    We have project "***" in highway department, project "***" require some labor work, so department "NNN" is a service department, will provide service to highway project"***".

     

    Employee of "YYY" department will submit time sheet to project "***"

    Now at the month end following entry for OTL 
    Debit: --.***.101.---.-- (GBP 3000/7000) 
    Credit: --.YYY.---.---.-- (GBP 3000/7000) 

    After that we want to generate Borrow and lent transaction with GBP 5000 (fix amount) every month end. 
    (transferring of amount from one cost centre and analysis code to another cost centre and analysis code - with the help of Borrow and lent) 

    Debit: --.ZZZ..MMM.-- (MMM will change based on each project) 
    Credit: --.***.101.---.-- 

    So at project level month end we can know the cost of project and GL level also.

     

    Please help me to map this requirement.

     

    Thanks in Advance.