On projects360 parameter form, under Fee management tab, a new parameter “Activate fee management” has been introduced to control the Fee management functionality. User needs to set the “Activate fee management” field value to ‘Yes’ in order to use this feature. Along with activation, there are few more details need to filled in to use this feature, details of each field is provided in the table below the following visual.
Go to Project management and accounting > Setups > projects360 parameters > Fee management tab
Details of the fields available on the projects360 parameters form are as follows –
|Activate fee management||This parameter enables users to activate Fee management functionality.|
|Budget category||Set budget category and fee budget model information to category on the fee forecast line which will be created when user defines fee budget amount on fee management form.|
|Billing category||Progress – Select a billing category which will be used while creating a billable fee transactions for the progress type of projects.
Fixed Fee – Select a billing category which will be used while creating a billable fee transactions for the milestone\fixed fee type of projects.
Time and expense NTE – Select a billing category which will be used while creating a negative fee transactions for the not to exceed type of projects.
On projects360 parameter form, once the feature is activated, a field called ‘Fee type’ will be available for selection on the project groups form. This field defines what kind of billing will be applied to the projects using this group.
Go to Project management and accounting > Setup > Posting > Project groups
|Fee type|| Select fee type ‘None’ to use the standard time and material projects.
Select fee type ‘Progress’ to use progress billing projects.
Select fee type ‘Fixed fee’ for milestone billing projects.
Select fee type ‘Time and expense NTE’ for not to exceed billing projects.
Create different line properties, to cater to different scenarios. Create a line property with ‘Chargeable’ as yes and accrue revenue as ‘No’ and associate this with all the categories created to track the fee journals created with fee management. Now create another line property with Chargeable set to ‘No’ and accrue revenue set to ‘Yes’ and associate and associate them to the projects as shown in the below two screenshots.