Employee Time Billing: Generated Transactions
To be able to bill customers for employee time spent on particular projects, you configure time tracking in projects. When project-related time cards are released, the system generates the transactions described in the following sections.
Project Transaction Generated for a Time Card
When you release a project-related time card, the system generates the following project transaction for each time activity in the time card line.
| Project and Project Task | Account Group | Inventory ID | Billable Quantity | Unit Rate | Amount |
|---|---|---|---|---|---|
| Project and project task in the time card line | Account group mapped to Expense account | Labor item in the time card line | Reported billable hours in the time card line | Labor cost rate defined on the Labor Rates (PM209900) form | Billable quantity * unit rate |
You can review the project transaction that was generated on release of a particular time card by opening a time card on the Employee Time Card (EP305000) form and clicking View Transactions on the form toolbar.
GL Transaction Generated from a Project Transaction
When a project transaction related to time card is released, the system creates a batch of the following accounting transactions.
| Account | Project | Project Task | Debit | Credit |
|---|---|---|---|---|
| Expense account defined by the Expense Account Source setting on the Projects Preferences (PM101000) form | The value in the time card line | The value in the time card line | Billable quantity * unit rate | 0.00 |
| Expense Accrual account defined by the Expense Accrual Account Source setting on the Projects Preferences form | Non-project code | Empty | 0.00 | Billable quantity * unit rate |
You can view the reference number of the GL batch in the GL Batch Nbr. box in the project transaction line on the Project Transactions (PM304000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.
GL Transaction Generated from an AR Invoice
When an AR invoice generated by the project billing procedure is released, the system creates a batch of the following accounting transactions.
| Account | Project | Project Task | Debit | Credit |
|---|---|---|---|---|
| Accounts Receivable account of the customer | Non-project code | Empty | Invoiced amount | 0.00 |
| Sales account of the labor item | The value in the time card line | The value in the time card line | 0.00 | Invoiced amount |
You can view the reference number of the GL batch in the GL Batch Nbr. box in the project transaction line on the Project Transactions (PM304000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.
Project Transactions Generated from GL Transaction
When the batch of GL transactions generated on release of an AR invoice generated by the project billing procedure is released, the system generates the following project transaction for each invoice line.
| Project and Project Task | Account Group | Inventory ID | Amount | Debit Account |
|---|---|---|---|---|
| The values in the time card line | Account group mapped to the Sales account | Labor item assigned to the employee | Amount calculated by billing rule | Sales account of the labor item |
You can review the project transaction that was generated on release of a particular time card by opening a time card on the Employee Time Card (EP305000) form and clicking View Transactions on the form toolbar.