Projects does not seem to work very well - Watched the webinar video - confused.

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  • Updated 4 years ago
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Anyone familiar with Projects please read below. Thank you.

I have entered an invoice to a customer. It is a product that I purchase and sell so it has a cost and a profit margin.

I choose the purchase order number from my customer as the Project name.

I then enter the bill from my supplier - using the same Project name from above.
Then I enter a freight bill to get the product to my customer - using the same Project name from above.

Funily enough If it is a regular purchase & sale I have it already entered as an "ITEM" - So I have already entered purchase price and sale price etc
- Does projects take this into account?

Now as I pay the salesperson a commission on profit after expenses, I would like Projects to know what the project has cost.

I am totally off track with what this feature offers? Should I just use Excel to track my costs for each purchase order :(
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Chris P

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Posted 4 years ago

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Qwerty

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Hi Chris,

There are two ways to see the project position in Reckon One.

1. Day to day > Projects > Click the relevant project to see the project position



2. View the profit & loss report & utilise the "Projects" report filter

Reporting > Profit & loss > Generate > Click Show more options & select the relevant project




Note: Whether you are reporting on cash basis or accrual basis is determined in the general settings screen.
Administration menu (i.e. the cog icon in the top right of the screen) > General settings > Report settings


There is another community post with some similar information relating to projects in Reckon One. Refer to the thread below.
https://community.reckon.com/reckon/topics/unhappy-8namdr7muobr1
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Sarah Phillips

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On - Day to day > Projects > 
The project items should be itemised for ease of seeing if you correctly assigned the right things and that you added everything you needed. Otherwise you just have to trust that you have done it right - Not in the spirit of accountability one would have thought.
Visibility would allow one to make sure that:
a. You assigned the right project to the invoice or bill
b. You remembered to add that pesky freight bill
....... and so on.
Aside from that I still need my first questions answered if possible.

Thanks Chris
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Qwerty

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I also agree that there is a lack visibility for projects. I would like to see a project detail/project transaction report available in the application.

I'm not sure I completely understand the first question however I'll use an example to explain my understanding on how projects & items work.

I have an item setup that is both purchased & sold...

Gross purchase price = $50.00
Net purchase price = $45.45
Gross sales price = $100.00
Net sale price = $90.91


You can add this item to a project via the item tab within the project setup screen. When you add an item to a project, you can set a project rate for the item. In the example below, I've chosen to increase the rate of the item from $100.00 to $110.00.

Note: Project rates only apply to the sale rate of the item & only affect sales forms (i.e. invoices & receipts).



When I use this project in sales forms (i.e. invoices or receipts) lines, the item field for the line(s) that have project selected will show the project items in a separate section at the top of the item listing. Choosing the project item will use the project rate specified for the item instead of the regular item rate.

In the example below, line 1 of the invoice has the project selected & the project item uses the project rate specified ($110.00). Line 2 doesn't have the project selected & uses the regular item rate ($100.00).



Line 1 on the invoice will increase/reflect the project income/position however line 2 won't increase/reflect the project/project position as the project wasn't specified for that invoice line.
(Edited)
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LisaD

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I will try Querty's approach, thank you Querty.

I do have a simpler query with regard to Projects (I like to dump data and create my own reporting as well as using System reports).

When extracting a general ledger/account transaction report or a Supplier transaction report, is it possible to also include 'project' as a field in the report.

This will allow me to easily identify which items have not been allocated to a project, and also which items are miss-allocated. 

I can also use the report for internal project reporting when I wish to create reports not supported by Reckon.

I have put this question up yesterday in the Community but not replies so far.

Thankyou

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Scott, Employee

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Hi Lisa,

This thread relates to the Reckon One application however the thread you posted yesterday relates to the Reckon Accounts Hosted application.

https://community.reckon.com/reckon/topics/including-job-name-in-a-gl-transaction-report-or-a-suppli...
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LisaD

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Thanks Scott, is there an answer for my prior post, ie is it possible to obtain a transaction listing (either at gl/account level or supplier level which includes job field?
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Scott, Employee

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Hi Lisa, 

I've forwarded your question/post to the Reckon Accounts Hosted application support team. Someone from that team will reply to your question/post.  

Regards,
Scott.