PROJECT COST TRACKING
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soph
Member Posts: 12 ✭
Hi is there any way you can set up a budget against an expense account and then assign past and future invoice against ? so all invoices that get assign to the expense gets recorded against that budget ? also I'm talking about putting full budget costs in not spreading it over a year... like on the p&l reports I'm seeing ...
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Comments
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Are you asking can you do budgets by project ? If so you need to switch on class tracking and then create a class for each project. You can then set up a budget for each class, allocate invoice lines to classes/ projects and get reports showing actuals & budgets0
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Hi thanks i know how to do all that but when i go to set up budget there is a list of accounts as well...so i need to also set up an account expense for the relevant class??0
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No Soph you don't have to setup additional accounts like in some other systems where the chart of accounts becomes very large. When you setup an account and then post a transaction to that account you have the option to include a class code. Think of the class code as an analysis code of the transaction in that account.0
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Hi thanks ok great but when i initially am setting up the budgets against the codes i noticed that i cant assign a budget to an actual class... it has to be against an account like in my image above ?0
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Hope you can read it - the menu gives you an option to select the class0
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