Enter a transitory item in Project

If you work with Profit Projects and Profit Financial, you can carry forward an amount from a ledger account in which a transitory item has been made to a project. For the project, only the total amount and not the period amounts is filled.

To enter a transitory item in Project:

1. Go to: Financial / Enter / Journal.
2. Check Financial year and Period. These are the financial year and the period to which you post the entry.
3. Select the purchase journal.
4. Click on: Finish.
5. Enter the first entry line.
6. In the second line, you select the cost or revenue account.

   Profit asks if you want to add a project entry.

7. Click on: Yes.

   If you post an entry to a ledger account for which you have specified that a project entry is allowed or mandatory, Profit automatically opens an entry screen with project data. The project entry is only made on the source line of the transitory item and is not distributed further within the transitory items.

8. Select the Charge check box if you want to charge the purchase invoice to your customer.

   If you charge the purchase invoice to your customer, you can specify a surcharge percentage. This percentage is used to calculate the sales amount charged to the customer. You can specify a surcharge percentage in the settings and in the project master data that is suggested on this screen. You can change this percentage if required.

   The Sales price field suggests the amount based on the original amount entered and the surcharge percentage. However, you can also enter the amount manually.

9. Click on: Finish.
10. Click on the action: Transitory item.
11. Enter the financial year and period range for the outstanding items.
12. Select the rounding method in the Rounding field if you want Profit to round the period amounts automatically, for example to hundreds.
13. Click on the action: F5. Select.

    Profit automatically determines the number of periods and will add one entry per period. The number of periods is displayed as well as the amount per period.

14. Change the amount per period in the Amount column.
15. Click on: Finish.
16. Complete the entry by completing the second line. Profit generates the VAT line automatically.
17. Click on: Finish.
18. Click on: Yes.
19. Go to: Financial / Ledger / Financial changes.
20. View the entries.