CREATE COST TRANSFER JOURNAL ENTRIES
Use this screen to create the cost transfer journal entry. When the cost of a project is charged to the performing organization(s) and the revenue is collected by the owning organization, a mismatching of revenue and expenses appears on income statements printed by organization. This application creates a journal entry that reallocates the cost from the performing organization to the owning organization. After you have posted the journal entry, you can print income statements, by organization, that accurately match costs and revenue.
You must designate which accounts are used to transfer the costs before creating this journal entry. You must have entered the direct accounts on the Manage Financial Statements screen, and pool accounts on the Manage Cost Pools screen. You must also have linked the transfer accounts to the proper organizations and to their respective financial statement lines.
You can select the ending subperiod this journal entry encompasses. You can also select the rate type, actual or target, at which costs transfer. The entry calculates on a YTD, reversing basis. The reversal of the journal entry is inserted in the first open subperiod of the next period.
Create the cost transfer journal entry only once for a given period. If you need to create a second journal entry for the same period, you must determine whether the first journal entry has been posted. If the first journal entry has not been posted, use the Manage Journal Entries screen to delete it and create the journal entry again. If the first journal entry has been posted, execute the Reverse Posted Journal Entry screen to delete it. After deleting the reversal of the first journal entry in the next period, create the journal entry again.
Location
Identification
Use the fields in this block to create a new parameter ID or to retrieve
a previously saved parameter ID. A parameter ID represents a set of screen
selection parameters. After you have saved a parameter ID and its related
parameters, you can retrieve them using Query.
You can use the retrieved parameters to produce reports and run processes
more efficiently and with greater consistency. The saved parameters are
also useful and necessary when you want to run the process as part of
a batch job. Many users save a unique set of parameters for each different
way they run a report or process. When you select a previously saved parameter
ID or parameter description, the associated saved screen selection parameters
automatically display as selection defaults. The page setup and print
options are also included in the saved parameter ID if there are any.
You can change any of the associated selection defaults as necessary.
Parameter ID
Enter, or click 
to select, a parameter
ID of up to 15 alphanumeric characters. Choose characters for your parameter
ID that help identify the type of selections you made in the screen, such
as PERIOD or QUARTERLY.
When you save your record, all the selections made in the screen are
stored with the parameter ID. Later, you can retrieve the parameter using
Query.
You can use the parameter to run the process more efficiently because
you can select the parameter ID with its previously defined screen selections.
After the default selections display in the screen, you can override the
defaults.
Description
Enter, or click to select, a parameter
description of up to 30 alphanumeric characters.
Selection Ranges
Accounting Period
Use this group box to select the period for which the journal entry is created.
Option
This field always displays One.
Fiscal Year
Use this drop-down list to select a valid fiscal year for which you are creating the cost transfer journal entry.
Period
Use this drop-down list to select a valid period for which you are creating the cost transfer journal entry.
Subpd
Use this drop-down list to select a valid subperiod for which you are creating the cost transfer journal entry.
Ending Date
This non-editable field displays the subperiod ending date.
Options
Select Rate Type
Rate Type
Use this drop-down list to select the rate type that is used to calculate the indirect cost that is reclassified. These rates are taken from the Pool Rates subtask of the Manage Cost Pools screen. Valid Options are:
-
Actual — Select this option to calculate indirect costs at actual rates. If you select Actual, make sure that you have calculated rates for the Period entered.
-
Target — Select this option to calculate indirect costs at target rates. If you select Target, make sure that you have entered the rates for the Period entered.
Create Cost Transfer JE
Click 
to create the cost transfer journal entry based on the parameters you have specified. When the process finishes, Costpoint displays a message indicating the number of the journal entry created. You can then modify and post the journal entry in the normal manner.