Use this screen to establish project account groups. You can use project account groups to establish a standard "set" of accounts for a given project. You can create different sets of accounts that can be assigned to different types of projects. You must assign a project account group to each project that is set up in Costpoint. The project account group is assigned to the project using the Account Group field on the Basic Info tab of the Manage Project User Flow screen. After the project account group has been assigned to the project, you can charge only the accounts that are included in the project account group to that project.
For each account in the project account group, you must select a system-designated function code. Account Functions include Labor, Non-Labor, Revenue, and so forth. Note that you can use a given account only once in the same account group with one exception: you can use the same account for both the BILLED A/R and BILLED AR-PRGRSS function codes in one account group code. You can use the following function codes only once in a project account group: BILLED A/R, BILLED AR-PRGSS, CONTRA-REVENUE, COST OF GOODS SOLD, PRGRSS-LIQUID, PRGRSS-UNLIQUID, REVENUE, UNBILLED-GENERL, UNBILLED-RETAIN, AWARD FEE, and WIP TRANS OUT. You can use the remainder of the function codes in the project account groups as many times as needed.
If you have an account in the account group that you no longer want to use, enter N in the Active column. This prevents account charging within this project account group but does not affect its availability in other project account groups.
Use this screen extensively during system initialization, when account groups are defined. Otherwise, perform maintenance whenever a new account group is required or whenever modifications are required to an existing account group.
You can add an account to the account group at any time. Enter N in the Active column if you no longer want to use the account in the project account group.
For more information about project account groups, see the "Project Account Groups" topic.
Enter a three-character, alphanumeric code that is used to group a "set" of accounts together. The account group code is a required field on the Basic Info tab of the Manage Project User Flow. After you assign an account group to a project on the Basic Info tab, only the accounts assigned to that project account group are valid for charging on the project.
Examples of project account groups include: INV for Inventory Projects, BP for Bid and Proposal Projects, and CPF for Cost Plus Fee Projects.
Enter a description of the project account group.
Use this table window to view the accounts that are available for selection. Highlight the account and click the Select button to include the account and the related function code (in the Selected Functions table window) in the project account group.
This non-editable column displays all accounts that are available for selection in the project account group. To be eligible for inclusion in the project account group, the account must be detail-level, active, and project-required. These settings are determined by the Detail, Project Required, and Active check boxes on the Manage Accounts screen.
This non-editable column displays the description of each account in the Account field. The description automatically displays the description entered in the Name field on the Manage Accounts screen.
Click the Select button to transfer the highlighted account/function code combination to the Select Project Accounts table window at the bottom of the screen. After you make your selection, you can activate/inactivate the account, establish a project account abbreviation for use in data entry, and assign a revenue mapping account for certain revenue accounts. Note that certain restrictions apply with regard to account-function relationships. For more information, please see "Project Account Groups."
Many applications in Costpoint Project Setup and Billing use the Costpoint-designated function codes for validation, posting, and calculation. For example, an account with a Function Code of Billed A/R is debited each time you post a standard bill. Therefore, carefully consider which Function Code to assign to each account when establishing your project account groups.
This non-editable table window displays all the Costpoint-designated function codes that can be selected for the project accounts.
The number in parentheses next to the function code description denotes the account function number (ACCT_FUNC_NO) used in the database. The account function number is used in the PROJ_SUM table to determine the function of the account. This function number is used by several Costpoint processes. Only income statement accounts need account function numbers.
The available function codes include:
ALT REVENUE — Use this function code to set up multiple revenue accounts for a single project account group. The accounts that are assigned a function code of ALT REVENUE collect revenue generated by the labor, non-labor, and units accounts and are entered in the Revenue Account Mapping field. You can use this function code multiple times within a single project account group.
AWARD FEE (14) — Use this function code to identify this account as the account that is used for award fees. This function code differs from the Revenue function code because it is treated separately from project revenue during the Compute Revenue process and the Post Revenue process. If you do not have award fee on a project, these processes ignore this function code. Only one account in each project account group can have this function code. It is used for projects that accrue award fees.
BAL — Use this function code if you need a project-required account that can be linked to the balance sheet. No special processing is associated with this function code. You can use this function code as many times as necessary.
BILLD AR-PRGRSS — Use this function code for projects that bill using the Progress Payments billing formula (Government Form 1443). You can assign this function code to only one account in the project account group. The Post Progress Payment Bills screen and Post Cash Receipts screen use this function code during the posting process. If this function code is not found in the project account group, an error message displays and the posting process stops. You can use this function code only once within a project account group.
BILLED A/R — Use this function code to identify the account to which you want to post billed receivables. You must be sure that this function code is assigned to an account in the project account group that exists at the billing level of the project. You can use this function code only once in each project account group. The billing applications (Post Standard Bills, Post Project Product Bills, Post Customer Product Bills, Post Manual Bills, Post Milestone Percent Complete Bills) use this function code to determine which account is used for posting billed receivables. The Post Cash Receipts screen uses this function code when payment on the receivable is posted. If the billing or cash receipt processes cannot find an account with this function code within the project account group, an error message displays and the posting process stops.
CONTRA-REVENUE — Use this function code when you run the Process Organization Changes screen. The Process Organization Changes screen is executed when you modify the owning organization of a project. The contra-revenue account within the project account group is used when you do not want the organizational modification to be retroactive. The year-to-date revenue is stored in the account with the Contra-Revenue function code. This function code can be used only once within a project account group.
COST GOODS SOLD (6) — Use this function code to identify the account that records the Cost of Sold amount during the Create Cost of Goods Sold Entries process. Cost of Goods Sold is used to record the expense (or debit) side of the inventory transfer, from the balance sheet to the income statement, for projects classified as Work-in-process of Common Inventory. You can use this function code only once within a project account group, and it cannot be used for any other purpose.
LABOR (2) — Use this function code to identify accounts that are used to record labor hours. Project reports, such as the Project Status Report, use function codes to group costs. Only transactions that have been entered using an account with a Labor function code can be used to bill loaded labor type projects. If you want to bill subcontractor labor by the hour on a loaded labor project, you must enter the subcontractor labor on the Vendor Labor subtask of the Manage Accounts Payable Vouchers screen using an account with a Labor function code. You can use this function code within the project account group as many times as necessary.
NON-LABOR (3) — Use this function code to identify accounts that are used to charge non-labor amounts. Project reports, such as the Project Status Report, use function codes to group costs. It is also used by the Project Non-labor Detail report because this report lists only transactions charged to an account with a Non-labor function code. You can use this function code within the project account group as many times as necessary.
PRGRSS-LIQUID — Use this function code for projects that bill using the Progress Payments billing formula (Government Form 1443). The Post Project Product Bills (for DD250 manually created) or Post Sales Order Journal (for DD250 created in Costpoint) processes use this function code to identify the liquidation account for delivery invoices. The Post Cash Receipts screen also uses this function code to determine the account to charge for cash received. If this function code is not found in the project account group, an error message displays and the posting process stops. The method that is used for posting delivery invoices is determined by the selection in the 1443 Postings group box on the Configure Billing Settings screen. You can use this function code only once within a project account group. Do not use accounts with this function code for any other purpose than what is noted previously.
PRGRSS-UNLIQUID — Use this function code for projects that bill using the Progress Payments billing formula (Government Form 1443). The Post Project Product Bills screen (for DD250 manually created) and the Post Sales Order Journal screen (for DD250 created in Costpoint) use this function code to identify the unliquidation account for delivery invoices. The Post Cash Receipts screen also uses this function code to determine the account to charge for cash received. If this function code is not found in the project account group, an error message displays and the posting process stops. The method that is used for posting delivery invoices is determined by the selection in the 1443 Postings group box on the Configure Billing Settings screen. You can use this function code only once within a project account group. Do not use accounts with this function code for any other purpose than what is noted previously.
REVENUE (1) — Use this function code to identify the account that is used to post revenue. You can use this function code only once within a project account group. Do not use it for any purpose other than revenue posting.
UNALLOW-LABOR (11) — Use this function code to identify the account where unallowable labor is charged. For example, you may have labor such as project management that is directly chargeable to a project but you cannot use it in revenue calculations or bill for that labor. Charge this type of labor to an account that has a function code of Unallow-Labor. The Compute Revenue screen and the Calculate Standard Bills screen do not include amounts charged to unallowable accounts in revenue or billings. This labor is included as a legitimate cost on the project. You can use this function code as many times as necessary within a project account group.
UNALLOW-NONLABR (12) — Use this function code to identify the account where unallowable non-labor costs is charged. For example, you may have expenses such as entertainment expenses that are directly chargeable to a project, but you cannot use it in revenue calculations or bill for that labor. Charge these costs to an account that has a function code of Unallow-NonLabr. The Compute Revenue screen and the Calculate Standard Bills screen do not include amounts charged to unallowable accounts in revenue or billings. These costs are included as legitimate costs on the project. You can use this function code as many times as necessary within a project account group.
UNBILLED GENERL — Use this function code to identify the account that is used as the debit when revenue is recognized and the credit when the bill is posted. The Compute Revenue screen, Post Standard Bills screen, and Post Cash Receipts screen use this function code to determine the accounts that are used in posting to the general ledger. If these posting processes do not find this function code within the project account group, an error message displays and the posting process stops. You can use this function code only once within the project account group. Do not use this account for any other purpose.
UNBILLED-RETAIN — Use this function code to identify the account to which the retainage is posted. The Post Standard Bills screen uses this function code to determine to which account retainage is posted. If the Post Standard Bills process does not find an account with a Unbilled - Retain function code and there is retainage on the bill, an error message displays and the posting process stops. You can use this function code only once within a project account group. Do not use accounts with this function code for any other purpose.
UNITS (13) — Use this function code to identify accounts that you want to use to record units usage. If you want to bill units times a billable rate, you must charge the units to an account that has a Units function code. The cost of the units is charged to the project’s costs and the units are billed. You can charge unit usage to Labor or Non-Labor function codes if you want to bill the cost of the units. You can use this function code as many times as necessary within the project account group.
WIP TRANS OUT (7) — Use this function code to identify the account to be used as the WIP transfer out amount during the Create Cost of Goods Sold Entries process. Costpoint uses the account with the WIP TRANS OUT function code to record the balance sheet, or credit side, of the inventory transfer. This type of entry is available only for Work-in-Process or Common Inventory projects. You can use this function code only once within a project account group. Do not use accounts with this function code for any other purpose.
Use the fields in this table window to review the selected accounts and their related function codes. You can select a revenue mapping account for use with multiple-revenue account projects, activate or inactivate the account, or establish a project account abbreviation for use in data entry.
This non-editable column displays the user-selected accounts from the Project Accounts table window. The accounts displayed in this table window are the accounts that belong to the account group entered at the top of the screen.
This non-editable column displays the description of each selected account from the left-hand table.
This non-editable column displays the user-selected function code from the Account Functions table window. The only codes available are those that come pre-installed with Costpoint.
Enter a maximum of six alphanumeric characters to abbreviate the account. This column is optional.
Account abbreviation codes are used strictly for project accounts. When this code is entered in data entry screens, the account defaults from this screen. You may find it helpful to use the same abbreviation code for the same account (or the same type of account, even if the actual account number differs) for all groups. For example, if the code "DL" is designated as the abbreviation for "Direct Labor" for all groups, employees performing data entry would enter the same abbreviation code regardless of the project. The abbreviation code would then reference the associated account group and default the correct account. You can use the same account abbreviation code in different account groups, but a code cannot be duplicated in the same account group.
Use this column to assign revenue accounts to labor, non-labor, and units accounts. You can use this functionality to track and post revenue by function code.
In order to use this functionality, you must first assign the Revenue function code to the account that you want to use as the main revenue account. After you have established the main Revenue account, you can enter the additional accounts that you want to use for as revenue accounts for labor, non-labor, and units function codes. Assign the Alternate Revenue function codes to additional revenue accounts. You can then assign these accounts to lines that have labor, non-labor, or units function codes. You can add as many alternate revenue accounts as you need.
The Post Revenue application use these alternate revenue accounts when posting the revenue journal entry to the general ledger. All revenue adjustments, over ceiling amounts, and fixed price revenue are shown on the revenue line in the PROJ_SUM table that has the "revenue" function code. The standard project reports show only one revenue line that is a summary of all the revenue accounts. This column is not required.
You can use the check box in this column to deactivate an account for a selected project account group. This allows the account to remain active for all other project account groups. Select this check box to keep the account active for the selected project account group and leave this check box blank to deactivate the account for the selected project account group.