We are currently creating a project P&L (tying back to our Sales Order for the project) from Epicor using Excel. We pull our information from the Chart Tracker if it is a manual GL entry and from our WIP/Reconciliation report. This is a very manual process and is not very accurate to what we want to create.
I was hoping someone had a suggestion or a process you use to create Project by Project P&L’s in Epicor.
Thanks.
Hi Nick,
As you have learned, there is no connection to a manual G/L Entry and a Project. What kinds of transactions are you doing in the G/L that are Project Related? Do you create unique G/L accounts (cost/revenue) for each project?
Mark W.
Thanks for responding Mark.
What I meant by manual is that it was not posted directly from WIP. We also have COGS accruals we do at the end of the month. We do not have unique G/L accounts for each project. I am basically asking for any input on reports that others use to create something like this.
We have been told many times before to bring in a consultant to help us create a report since we do not have a dedicated IT person here to help, but it seems hard to find anybody to do that.
What type of Project Billing are you doing? (Customer Shipment, Milestone, Fixed Fee, Cost+,…)
The Project has phases and each phase has a job that collects the costs for the project (except inventory items shipped from stock). Next you would look at your billing to get revenue information. Depending on your Revenue Recognition method, you may have adjust the revenue to match your G/L.
Maybe if you describe your projects and when revenue is recognized, I can give you some pointers.
Mark W.
Just a little background on the company. We manufacture overhead doors and more specifically airplane hanger doors. For door material, we bill when shipped. Sometimes we have to do multiple billings depending on how many trucks we need to ship (because of weight of steel and other material) and timing of when all materials need to arrive for installation.
We also do the installation for these doors as well and recognize revenue when we complete the installation.
What do your projects look like? Do you have a phase for building the door segments and a separate phase for installation?
Mark W.