You want to start managing projects in the system, for this, you must know the different steps to create an overhead project, including selecting the correct project profile.
Creation of Projects
When creating a project, you need to specify:
- Project Name
- Project ID
- Project Profile
- Planned Start
- Planned Finish
- Responsible Cost Center
- Profit Center
One way to create a new project is to use the app Project Control – Enterprise Projects.
The Project Profile is the key element to define. It will contribute to differentiating the accounting scenario for your project. Indeed, the type of project profile influences a project's behavior with default information.
You can select:
- Overhead project
- Investment project
- Statistical project
- Project with revenue
To know more about the main differences, you can refer to the quick comparison figure:
Note
The primary focus of this course is overhead projects.
If a statistical project is required, do select the profile Statistical Project, because a subsequent change is no longer possible. The specifics about statistical projects will be covered in a coming lesson.