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Carry forward purchase invoices and cost entries to a project

If you work with Profit Projecten and Profit Financieel, you can post purchase invoices and cost entries from Profit Financieel as project entries against a project.

Content

Description

You add actual costing lines by entering hours, materials and units.

You can carry forward the purchase invoices and costs that you enter in Profit Financieel, to the actual costing for a project in Profit Projecten. If you use the integration of actual costing and salary processing in Profit Projecten and Profit Payroll, you can also use a project entry in Profit Financieel to enter a purchase invoice, entering these costs for an employee, so the costs are then deducted from the wage of the employee in question. Costs that are not entered using a purchase invoice in Profit Financieel, can also be carried forward to a project.

Just like hours, materials and units, you can also charge the client for purchase invoices and other costs in case of automatic invoicing 'based on cost plus'. You can specify this when entering the purchase invoice or the costs and enter a surcharge percentage for calculating the amount to be charged.

When entering a purchase invoice, Profit typically determines the VAT requirement based on the creditor, but you can also have the VAT requirement determined based on the project on which you are entering the costs. This functionality is not available by default, but you must activate it separately and configure it if you want to use it. You use this when working with projects taking place at a location other than the branch location of the creditor and for which the VAT duty deviates from the VAT duty of the creditor. An example of this is hotel costs that are incurred on location.

You can use the Journalising function to process all invoices that have been prepared in the financial administration. After that, invoices can no longer be changed in order to guarantee that the accounting and Profit Projects are matched. You can print a daily statement of the invoices carried forward.

You can also transfer purchase invoices or revenues from Profit Financieel to Profit Projecten. You have to specify the sales journal in which you want to process the invoices. The ledger account on which the turnover is entered must also be known. You define the basis for journalising by setting the calculation basis. In doing so, you can indicate that you record the turnover account for instance per employee, per work type (group), per article (group) or per project (group).

Video

Preparation

  • Set a ledger account for a project entry

    If you want to carry forward purchase invoices or costs from the financial administration, you must first specify the ledger accounts for which carrying forward is allowed or even mandatory.

  • Configure the carrying forward of purchase invoices with VAT duty by project

    You only configure your VAT duty by project (purchase) if you also want Profit to be able to determine – during entry of a purchase invoice on a project – the VAT duty, and thus also the VAT code, based on the project on which you entered the costs. You only use this functionality if you are dealing with projects being carried out at a location other than the branch location of the creditor and for which the VAT duty differs from the VAT duty of the creditor.

Procedure

Process

Actual costing