Your superior has asked you to take the lead of a project in your company. Maybe you are a leading the project, maybe you are the project manager or not. One thing is certain, very few people know how to report status on a project, even when they are expert project managers. The basic problem? Most people do not understand the perspective of a manager who is being pressed for information about a big project. There are some basic rules of reporting status that you can use to further your reputation as someone who knows how to keep management and the project team informed and drive a project to success.
New Stuff: Mailing A/R Aged Trial Balance IN SAGE 300 ERP
Project and Job costing module of sage 300 ERP provides you facilities to developing plans, providing estimations, allocate resource to project and task, billing and analysis of Projects. You can easily track out project wise status in PJC module.
Following are the details of Project status.
1. Estimation: This is the default status for new projects you add to a contract. Estimate status lets you assign categories and resources to the project, and enter revenue and cost estimates. Once you open a project for transactions.
2. Approved: This status indicates that the project has been approved, but it does not permit you to record transactions.
3. Open: Status permits you to record transactions for the selected project.
4. On Hold: This status prompts a warning, when you process a transaction that includes the project, where the project is on hold. You would use this status, for example, if some aspect of the project is in dispute.
5. Inactive: This status prevents you from posting cost transactions to or altering a project.
6. Completed: This status is used to indicate that all work on a project is finished, prior to closing the project.
7. Closed: This status means that all the work on the project is finished, and that you have recognized all revenues, and processed all billings, receipts, and closing accounting entries.
Also Read:
1. Project wise Costing Analysis in Sage 300 ERP
2. Project/Contract Maintenance in Sage 300 ERP
3. Default accounting methods of PJC
4. Project Invoicing Feature in Sage 300 ERP