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Kristine Griba

Project Allocation

SOLVED
Posted By

My goal: when I enter a sales invoice (for condo fees) for residents, I wish to allocate the condo fees to a project--the project will be the condo suite number.

My condo fees revenue account is "4105 Condominium Fees."

When I go to enter the condos fees received from a resident, it seems I am getting an error message, "This account is not set for allocation" when I attempt to allocate a project in the "Projects" column in the Sales Invoice window.

Referring to my embedded image below, I can enter a project number in the area circled and labelled #1 without receiving an error message. The only problem with this is that it doesn't seem to feed data into any project-type report. In the past, I have always entered project numbers in area #2--but in that case, I was working at an engineering firm and when I posted invoices from vendors, i.e. payables, I could post that expense to a project. What is the difference between entering a project number in area #1 versus area #2?

I went into the chart of accounts to look at "4105 Condominium Fees," and I see I can check off "Allow Project Allocations."

I am nervous about checking off the option "Allow Project Allocation" because I don't want to alter any revenue account information. Ultimately, I'd just like to be able to look at monies received for condo fees, by suite number because the resident living in a particular suite can change, I don't always want to look at condo fees received by a resident, but rather by suite independent of who is living there.

Is there anything I need to be aware of before I check off this option "Allow Project Allocation?"

Thanks in advance,

Kristine

  • 0

    Moving this post to Sage 50 CA forum, this forum is for Accounting Cloud

  • 0 in reply to JSelemani

    Oh! Sorry 'bout that... I wasn't sure as the interface has changed and I couldn't quite tell where I was posting LOL Thanks for putting this in the right spot so that it will more likely receive a reply!

  • 0 in reply to Kristine Griba

    Hi Kristine, you have to check off "Allow Project Allocations".  In what way do you think it will alter your revenue account information?

  • +1
    verified answer

    Hi Kristine - the #1 box that you circled is for a project name to be entered and by doing that then all lines in the invoice will be allocated to that project. this will automatically fill in #2 box you circled. If you had several lines in the invoice and some are for different projects then you would use #2 to enter the specific project you want to use per line. In your example you only have 1 line so you will be fine to just use the #1 box.

    By ticking the 'Allow Project Allocation' you are only allowing the account to be allocated to a project. The  amount you enter will always go to the Chart of Acct nbr you selected (4105 Condominium fees) whether you allocate it or not.

    Now you can select the Project 'Unit 105' and it will show all the revenue you entered regardless of who was resident at any given time. 

    Does this help?

  • 0 in reply to Marj@Swab

    Hi Marj@Swab,

    I'm not really sure, I think I fear that if I check off "Allow Project Allocations" and then some income hasn't been allocated to a project, I won't somehow see all the revenue and thus the condo fee revenue will be understated.

    The thing is, is that now that I have entered all the units as projects, I will need to go back retroactively to all the condo fees collected each month thus far this year--which I am fine with doing timewise, I just don't want to mess anything up in the process and am trying to keep an eye out for pitfalls. My goal is to get better-tracked data.

    I'm probably just being overanxious... Sage can be unforgiving it seems sometimes, so y'know, measure twice cut once, sort of thing.

  • 0 in reply to Smith and Co

    Hi! Yes and thank you! So basically the takeaway is that the project allocation on a revenue account WILL behave the same way as the project allocation would have behaved on an expense account (per my reference to my previous experience with this).

    And yes, perfect, "you can select the Project 'Unit 105' and it will show all the revenue you entered regardless of who was resident at any given time. " That's exactly what I'm wanting to do.

    Thanks again!

  • 0 in reply to Kristine Griba

    You're welcome! Also an FYI - when you select a project you have 2 choices - by income or by allocation. A project selected by allocation will show both revenue and expenses allocated but it does not act like an income statement where revenue less expenses = profit/loss. It just gives a grand total. 

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