Microsoft Articles

PSA – Journals

Did you know PSA has journal functionality – this allows for a flexible approach to applying and pushing costs to your projects. You may ask “Will, you sound excited about this but why will I need Journals I use Time and Expenses to push through to Actuals which then show on the various tracking screens etc.”

Well the great thing about Journals is they are flexible and out of the box when you open up a journal you get the following transaction types and form:

Along with the following Transaction Class:

Now these really are just categorisations to aid with reporting etc. but if we look beyond these types and classes into uses for journals within PSA:

1. Sub-Contractors Time and Expenses – use the cost type and time class and then by selecting the project and task along with bookable resource you will be able to apply time and expense costs back to the project without allowing your Sub-Contractors access to the environment itself which helps reduce cost and sometime Sub-Contractors will not like access to your systems to show that they are separate from the company.

2. Processing/Applying Cost from Purchase Orders – it is possible to expose costs to your Project from Purchase Orders by selecting a transaction type of Cost with a transaction class of Material, you can then select the project and tasks the Purchase Order applies to as well as the quantity and cost.

 

3. Reversals –¬†For those who are reading this that understand Dynamics 365 Finance and Operations you may be pondering “hmmm… I wonder if you can use these for reversals like we do in F n O” the answer is absolutely!!!! Just throw in a negative value for whatever it is you wish to reverse and voila it’s achieved for example, for a certain resources timesheet just punch in the project and task it belongs too along with the bookable resources name who’s timesheet you need to reverse and post it. This will then filter through and reverse the tracking items such as effort and cost :-).

Furthermore, use the journals to apply tax is incurred, commission that may need to be processed through as a cost towards the project and much more!

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One comment

  1. Good stuff Will! To everyone using Journal Lines, remember to add the Project Contract field on both the Journal Line main form and Quick Create form. You want to select a Project Contract when submitting Journals so that you will have the desired impact on the contract and its financial performance.

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