Enter a purchase invoice on a project (project entry)

You add the project entry when entering the purchase invoice or the costs in Profit Financial. This is where you record the project, work type and project phase on which you enter the costs. If you use custom dimensions, you can add these dimensions.

To enter a purchase invoice on a project:

Go to: Financial / Enter / Journal.
Check Financial year and Period.
These are the financial year and the period in which the purchase invoice is entered.
Select the purchase journal in which you want to enter the purchase invoice.
Click on: Finish.
Enter the first entry line.
Select the creditor. If necessary change the entry description. Enter the complete invoice amount, including VAT.
Complete the second entry line.
Select the expense account if it is not displayed automatically.
Select the VAT code (5) if it is not displayed automatically.
Profit asks if you want to create a project entry. Click on: Yes.
If you post an entry to a ledger account for which project entries have been set to mandatory, Profit automatically opens an entry window with project data. You can also click on the Project entry action button.

Note:

If you want to distribute the amount over multiple projects and/or work types, you can add multiple lines in the entry window. You can now enter the amount per line manually or have it distributed using a percentage. The total amount of the project lines should always be equal to the amount on the purchase invoice.
Select the project the entry applies to.
In Costs select the item the costs apply to.
Profit copies the description from the purchase invoice. If necessary, enter a different description. The description in the purchase invoice and the one in the project description are not linked. You can therefore use two different descriptions.
Select the Charge check box if you charge your customer for the purchase invoice or if you are creating a project invoice based on cost plus for the project specified.
Enter a surcharge percentage in Allowance % if you charge your customer for the purchase invoice. This percentage is used to calculate the sales amount that you charge to the customer.
- Profit suggests a surcharge percentage if you entered a surcharge percentage in the settings and in the properties of the project. You can change the suggested percentage.
- Here, Profit copies the Overheads (%) from the Costs item if you have set this in the entry layout for project entries. (General / Management / Entry layout on the Line fields tab. In the window at left, select the Surcharge (%) field. Next, in Copy from: select Costs / Overheads (%)). If Surcharge (%) is entered in the project properties, then that percentage from the project will be determinant in this project entry. In this case, do not enter a value in Surcharge (%) in the project properties if you want Profit to copy the Overheads (%) from the Costs item to Surcharge (%) in the project entry. In this case, you also need to enter the percentage 0 or greater in Overheads (%) in the properties for Costs.
Profit proposes the amount in Allowance amount on the basis of the amount that was originally entered and the surcharge percentage. However, you can also enter the amount manually.
Note:

You can adjust the entry line layout. For instance, you can include the project phase and one or more custom dimensions in the entry line and make these mandatory, if necessary. These extra fields are also copied to the added actual costing line.
Click on: Finish.
Now complete the entry.
Note:

In Profit Financieel, you can change the journal entries afterwards. The project entries can also be adjusted afterwards, but only if you have not yet approved the corresponding actual costing lines.

When entering the actual costing lines, Profit Projecten uses the period table, if you have specified this in the Profit Projecten settings. This period table can deviate from the period classification that you use in Profit Financieel.