PROJECT COST TRACKING

soph
soph Member Posts: 12 ✭
edited August 2019 in Accounts Hosted
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 ...

Comments

  • David Robertson_9018461
    David Robertson_9018461 Member Posts: 20 ✭
    edited June 2017
    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 & budgets
  • soph
    soph Member Posts: 12 ✭
    edited August 2017
    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??image
  • David Robertson_9018461
    David Robertson_9018461 Member Posts: 20 ✭
    edited June 2017
    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.
  • soph
    soph Member Posts: 12 ✭
    edited August 2017
    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 ? 
  • David Robertson_9018461
    David Robertson_9018461 Member Posts: 20 ✭
    edited June 2017

    image
    Hope you can read it - the menu gives you an option to select the class

Categories