· OTL timecards interfaced to PA and expenditure items information pulled from PA in excel
· We have Capital and Indirect internal Project. Capital Project Cost being capitalized,
· Capital Project Cost is calculated manually in excel - Project Costing is not turned on.
· AP invoices for CIP assets are interfaced directly to FA
· CIP assets are manually created and cost (PA+AP Clearing) are added by mass additions.
· CIP has balances in FA – capitalized when in service.
Option (1) - We want to turn on Project Costing and use asset capitalization functionality
· Calculate and Cost Distribute Labor and Burden Cost in Projects .
· Summarized CIP cost for Capital project
· Define a dummy assets and put in service (won’t allow to transfer to FA otherwise)
· Transfer to FA and Add to existing CIP asset
· New CIP assets remain in Projects and transferred to FA when ‘actually’ put in service
· AP invoices for CIP assets continue to interface with FA directly (out of scope to bring thru PA)
Issue here is CIP assets are at two places – existing CIP assets are in FA and new CIP assets remains in Projects.
Reporting would be a challenges and difficult from user perspective. Another issue is AP invoices for CIP assets booked in FA
Option (2) – Possibility to bring CIP balances in PA -
· Use standard project costing and asset capitalization functionality
· We can rename existing CIP assets in FA and retire - so we can use same asset number in PA
· Bring (? –not sure how) opening CIP balances from FA to projects (Capital Projects window)
· Onwards accumulate labor CIP cost for existing and new assets in PA
· Add (? –not sure how) AP clearing invoices to CIP
· Put in service in PA and transfer to capitalize to FA
Issue here is –
Can we bring opening balance from PA? can expenditure batch used for this?
Can we add AP cost directly to CIP?