Project Accounting
Contents
Overview of Project Accounting
Project accounting, which is also sometimes referred to as job cost accounting, allows you to create financial reports specifically designed to track the financial progress of projects. These reports can then be used to aid in project management. Project accounting differs from standard accounting in that projects can often cross organizational (and financial) boundaries, can last from a few days/weeks to a number of years, and can also be one of a number of projects that make up a larger project or program. Project accounting allows reporting from multiple levels (as defined), and allows comparison with historical as well as current budgets.
Within DDI-Connect, the initial setup of Project Accounting requires assistance from a DDI staff member. If you are interested in configuring Project Accounting, please contact DDI Client Support for assistance.
Step 1: Setting up Project Management
The first step in configuring Project Accounting is to link Project Management to Connect-FR. This allows incoming gifts to be linked to the project. You will set up this linkage within Project Management Setup. Select the options to "Enable project code functionality" and "Link Project Management to Connect-FR". When you select the Link Project option, you have the option of selecting up to 2 Designation fields to Project Management fields.
NOTE: As a part of setting up your project management, you will want to configure your project attributes.
Step 2: Setting up Subledger Information
This step requires input from a DDI Staff Member. Within DDI Connect, you have the ability to configure up to 10 subledger segments. These segments are set up within FundWriter Codes Maintenance. The code sets are 0020-0029. Each set must be specifically configured with information that will allow the General Ledger to tie Connect-FR to Project Management.
You are now ready to begin adding and tracking projects. The Project Accounting setup process adds additional tabs to the Project Maintenance screen, as seen below:
To set up a new project:
- From the DDI Connect main menu, double-click Project Management
- Double-click Project Management Maintenance
- On the screen that appears, click New to start entering a new project. The fields will enable for data entry:
The Project # will automatically default to the next available project number. However, if you wish to assign a specific project number, this field can be overwritten.
The following fields are available on this screen:
| Field | Description |
|---|---|
| Project # | Enter the project number you wish to assign to this project, or leave it at the automatically assigned project number |
| Project code | Enter the project code you wish to assign to the project. You can NOT assign an existing project code to a new project...it must be a unique code |
| Category | Click the drop down arrow to select the project category (project or sub-project) |
| Title | Enter the title of the project |
| Start dt/thru | Enter the beginning and ending dates for the project. You can type the dates in mm/dd/yyyy format or click the calendar icon to select the date |
| Summary | Provide a brief summary of the project |
| Fiscal yr | Enter the fiscal year that this project begins in |
| Funding start yr | Enter the year that funding is first applied for this project |
In addition to these fields, there are multiple tabs available on this screen.
Attributes tab
The Attributes tab is where you designate certain information, such as the area, country, GL account, and other information. The attributes listed here can be configured by your organization within code set 1406 - Project Attributes. You have the option of making some or all attributes required, meaning a project cannot be saved until the information is added. The following fields are available on the Attributes tab:
| Field | Description |
|---|---|
| Attribute | The attribute is the field that you are configuring |
| Value | The value of the attribute that you are modifying |
There are certain default attributes that appear on the Attributes tab, based on how you have set up your system. To add a value to an attribute,you can click the Edit button and select the value or you can click in the Value column on the line of the attribute that you wish to modify. This enables the field and displays a drop-down list of configured values for this attribute. The values are defined by specific code sets within Codes Maintenance, based on the setup of the Attributes code set. The only field that requires you to enter information in the Value field above is the GL account. You can type the GL number or click the list icon to select from a list of accounts:
Once you have entered the information for the attributes, click Save if you wish to retain your changes before proceeding, or click the Linked Constituents tab.
Linked Constituents tab
The Linked Constituents allows you to indicate individuals linked to the project. For example, you may wish to link the project manager and project staff, major donors, or project partners. To add a constituent, click the Add button on the tab. The fields will enable for data entry:
The following fields are available on this tab:
| Field | Description |
|---|---|
| Link Type | Click the drop down arrow to select the link type. These types are defined in code set 1402 - Project Constituent Type |
| PIN | Type the PIN for the constituent you are adding, or click the binoculars to search for the constituent. You can also click the Add button to add a new constituent or click the Edit button to edit the selected constituent's information |
| Constituent Information | This window displays the selected constituent's information |
When you have entered the information, click OK to add. You can now add additional linked constituents if desired.
Budget & Funding tab
The Budget & Funding tab allows you to add budget and funding information for the project. The tab allows you to add multiple years, for those projects that span more than one year.
To begin adding information, click the Add button on the tab. The fields will now activate for data entry:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Fiscal year | The fiscal year associated with the budget/funding information you are entering |
| Budget | Total budgeted amount for the project |
| Funding | Portion of the total budget contributed by this organization |
| Desig. funding | Amount of funding that has been designated for this project (from gifts) |
| Receipts | A read only field that tracks designated funding receipts (information received from General Ledger) |
| Disbursements | A read only field that tracks designated funding disbursements (information received from General Ledger) |
| Adjustments | A read only field that tracks designated funding adjustments (information received from General Ledger) |
| Opening bal | Opening balance of project funding |
| Receipts | A read only field that tracks project funding receipts (information received from General Ledger) |
| Disbursements | A read only field that tracks project funding disbursements (information received from General Ledger) |
| Adjustments | A read only field that tracks project funding adjustments (information received from General Ledger) |
| Auto calculate totals | If checked, this option totals the budget and funding amounts in the grid below and displays the totals in the Budget and Funding fields above. These fields are not editable when this box is selected |
| Budget | Total budgeted amount for the project. Note: This field is only enabled when the Auto calculate totals box above is not selected |
| Funding | Portion of the total budget contributed by this organization. In some cases, part of the total budget may be derived from partnerships or contributions from donors. Note: This field is only enabled when the Auto calculate totals box above is not selected |
| Desig. funding | Amount of funding that has been designated for this project (from gifts). Note: This field is only enabled when the Auto calculate totals box above is not selected |
When you have finished entering the information, click OK. The budget information for this fiscal year will be added to the record. You can now add information for a new fiscal year, if desired. NOTE: You can only create ONE budget/funding record for each fiscal year.
Connect-FR tab
The Connect-FR tab allows you to specify Designation description and receipt letter text if desired. Information you add on this field will automatically populate the designation description field and receipt letters for gifts received towards this project. The fields are free-form:
The designation text, for example, will now appear on the Gift Entry screen when a gift is received towards this project:
Transactions tab
When you click the Transactions tab, if no transactions have been recorded against the project, the tab will not show any information. However, as transactions take place, they will appear as such:
If you wish to drill down into the details of a transaction, double-click the line. This will launch the appropriate transaction detail screen.
To filter results, you can click the Fiscal year drop down, and select the the appropriate year. This will enable date fields that allow you to further filter by date range:
To filter by date, enter the starting and ending date of the range you wish to view. You can type the date in mm/dd/yyyy format or click the calendar icon to select the date.
Depending on the configuration of your project accounting, and the sources you chose to include, transactions appear on this screen as a result of:
