Project workspace terminology

Term in Acumatica

Equivalent term in AE

Description

Project Transactions

WIP Enquiry

Project Transactions capture all project-related information that either flow from other functional areas within MYOB Acumatica or created directly within the Project Transactions page. Such transactions are used to track budgeted costs and revenue.

Pro-Forma Invoices

Draft Bill

A pro-forma invoice is a draft document created during the billing process that can be edited and corrected without affecting accounts receivable.
WIP adjustment (e.g. WIP Write Off/On) is available within the Pro-Forma Invoices screen.

Project Quotes

N/A

A project quote is used to estimate the price of a potential project. A quote can be sent to a customer for review and can be modified as many times as
necessary until an agreement is reached. A quote can be converted to a project upon agreement of the terms of the quote with the Customer.

Term in Acumatica

Equivalent term in AE

Description

Project

Assignment

A project is used to describe a set of work being conducted for a customer for a specific period. Each project will typically consist of one or multiple identifiable project tasks. Both revenue and cost budgets can be defined for a project.

Project Tasks

Task Codes

A project task is the smallest identifiable piece of work that forms part of a project. These are the activities that have to completed for a specific project.
A billing rule can be selected for each project task to determine how it will be billed.

Labour Cost Rates

Charge Rates

Labour Cost Rates are used to determine the cost of employee time. Labour cost rates can be configured based on different factors such as employee,
labour item, project, project task, and rate type.

Rate Tables

Charge Rates start date

Rate Tables are used to specify the sequences in which MYOB Acumatica searches rates and the factors (e.g. start date and end date) that affect rate selection for each sequence.  

Project Budget

Job Budget

A Project Budget provides both a financial plan and cost constraints for a project. This allows for the tracking of budget executions as a project progresses. A project budget can be adjusted or revised for any project in accordance with updated estimates.

Project Budget Forecasts

N/A

A Project Budget Forecast is prepared for a long-term project that will require a breakdown of the budget structure by financial periods. This allows a user to compare and analyse budgets versus actuals by periods.

Term in Acumatica

Equivalent term in AE

Description

Release Transactions

Post

Release Transactions enable both individual and bulk release of transaction(s) that are ready to be released (i.e. Balanced status). A batch of General Ledger transactions are created for each group of project transactions that have been released.

Run Project Billing

Billing Wizard / Bulk Billing

Run Project Billing enables both individual and bulk billing of project(s). The billing procedure can only be run for a project that is pending billing.
Invoices will be generated for each project and each customer involved.

Process Pro Forma Invoices

Draft Bill / Unposted Bill

A pro forma invoice is a draft document that can be edited without affecting accounts receivable. Process pro forma invoice enables
both individual and bulk release of pro forma invoices.  

Run Allocations by Projects

N/A

Run allocations by projects enables the use of predetermined allocation rules for specific projects. These rules include calculation formulas, allocation settings and posting date.

Run Allocations by Task

N/A

Run allocations by task enables the use of predetermined allocation rules for specific project tasks. These rules include calculation formulas, allocation settings and posting date.

Reverse Unbilled Transactions

N/A

Reverse unbilled transactions enable the reversal of allocated unbilled transactions. Unallocated transactions cannot be viewed from this screen even if they are available for billing. A reversal transaction will be created when an allocated transaction is processed.

Recalculate Project Balances

Billing Wizard - Reset option

Balances of projects can be recalculated when project balances do not match the total amounts of the underlying transactions.

Term in Acumatica

Equivalent term in AE

Description

Project Transaction Details

WIP Entries

Project transaction details provide a view of all project transactions associated with a specific project.
The list of transactions can be filtered in accordance with various criteria such as date, employee, account group, and project task.

Commitments

N/A

Commitments provide details of purchase orders committed for each project. Cost budgets will be automatically updated based on the creation of commitments.

Tasks by Employee

Jobs/Task by Employee

Provides a list of project tasks associated with a task activity approver.

Budget Details

Job budgets

Budget details provide a view of both budgets and actuals associated with all projects.

Budget Summary by Account Group

Job budget by Assignment Type

Budget Summary by Account Group provides details of budgets for specific account groups across all projects.

Project Budget Overruns

Job Manager Report / Actual vs budget

Provides a list of budget overruns for a particular project. The list can be filtered using various selection criteria such as account group and project task.

Term in Acumatica

Equivalent term in AE

Description

Pro Forma Invoice

Draft Bill / Unposted Bill

This report form can be used to view and print a selected pro-forma invoice, regardless of its status (e.g. On Hold, Open, Closed).

Project Quote

N/A

This report form can be used to view and print a selected project quote, regardless of its status (e.g. Draft, Prepared, Sent, Closed).

Term in Acumatica

Equivalent term in AE

Description

Project Balance

Assignment Tab

This report lists all account group balances for project tasks as grouped by project. The balances are listed along with projected, revised, and actual quantities and amounts.

Project Profitability

N/A

This report displays profitability for all projects in the system based on income, expense and profit margin. In addition, the report can be generated for individual project managers or only for active projects.

Projects

Assignment List (Job Manager)

This report either lists all projects (along with Project ID) grouped by Customers or all projects for a selected Customer. Projects are listed along with descriptions, statuses and start dates.

Project Tasks

N/A

This report either lists all project tasks (along with Project ID) grouped by Customers or all project tasks for a selected Customer. Project Tasks are listed along with descriptions, statuses and start dates.

Employee Hours

Employee Productivity

This report displays work hours spent by individual employees on specific projects. Tasks are displayed for each project for individual employees, along with time spent and time billable.

Employee Hours by Project and Task

N/A

This report displays work hours spent by individual employees on different project tasks. For each project task, both time spent and time billable are listed.

Project Transaction Register

Assignment List (Job Manager)

This report lists all project transactions for a selected project. Key information for each project transaction includes billable quantity, unit rate and employee.

AR Open Documents by Customer

Customer Summary / Current WIP by Customer / WIP Enquiry

This report displays a list of accounts receivable documents that are open (i.e. has either a positive or negative balance) as of the current business date. Amounts of credit memos are displayed with a negative sign. Information within the report is first grouped by Customer and subsequently by project.

AR Open Documents by Project

Outstanding debtors’ invoices
by assignment

This report displays a list of accounts receivable documents that are open (i.e. has either a positive or negative balance) as of the current business date. Amounts of credit memos are displayed with a negative sign. Information within the report is first grouped by project and subsequently by Customer.

AP Open Documents by Supplier

Outstanding Purchase Invoices

This report displays the list of accounts payable documents that are open (i.e. has either a positive or negative balance) as of the current business date or a list of suppliers with their aggregated amounts.
Information within the report is first grouped by supplier and subsequently by project.

AP Open Documents by Project

N/A

This report displays the list of accounts payable documents that are open (i.e. has either a positive or negative balance) as of the current business date or a list of suppliers with their aggregated amounts.
Information within the report is first grouped by project and subsequently by supplier.

Term in Acumatica

Equivalent term in AE

Description

Projects Preferences

Maintenance Map - Assignments

This form is used to specify project settings, including numbering sequences for documents (such as Pro-Forma invoices and quotes), document processing settings (such as non-project code, approval maps and billing cut-off date) and mailing settings. Mailing settings contain a list of predefined mailings that users can use for printing and e-mailing.

Account Groups

N/A

An account group is an entity that can be mapped to a subset of general ledger accounts and subsequently specified in project-related documents. Account groups consist of Asset, Income, Liability or Expense.
This form is used to define account groups which will be used to track budgets, expenses and revenues of projects.  

Billing Rules

N/A

Billing rules are used to automate the calculation of amounts being billed to Customers for a particular project. A billing rule is assigned to each project task, and the rule defines which transactions should be used for billing and
which accounts should be used to record transactions generated in the billing process. There are two billing types, namely time and material (where a project is billed based on time and material spent) and progress billing (where a project is billed based on the percentage of work completion)

Rate Tables

N/A

A rate table is a set of billing rates that MYOB Acumatica uses in the formula of the billing rules of a project or the allocation rules during transaction allocation. New rate tables can be added in this form to be used in projects for building pricing models.

Rate Types

N/A

Rate types define how rates should be selected for billing or in specific steps of the allocation rules. This form is used to add, view, edit and delete rate types that can be used for billing or allocation.

Rate Lookup Rules

N/A

This form is used to specify the sequences in which MYOB Acumatica searches the rate in rate tables and the factors that affect rate selection for each sequence.

Allocation Rules

N/A

Allocation rules are setup using this form to ensure that expenses related to the revenue have been recorded in the same financial period as the revenue. The left pane defines the sequence of steps for the selected allocation rule while the right pane defines the actual calculation rules and allocation settings for each rule.

Project Attributes

Extras Tab

An attribute is a property that enables users to specify additional information for objects in the system. A list of attributes can be used to gather class-specific information about members of the class. In terms of projects, project attributes are thus additional information that can be gathered and stored for projects.  

Project Templates

N/A

This form is used to view and create project templates. Such templates can subsequently be used to create projects and project quotes. Project templates can include information such as project tasks, billing period, revenue budget level and cost budget level.

Project Template Tasks

N/A

This form is used to create tasks for project templates. If the Automatically Include in Project check box is selected for the template task, it is included in any created project that uses the associated project template.

Common Tasks

N/A

This form is used to view and create common tasks. Common tasks can be added to any new or existing project, rather than just any project associated with one project template.