Frequently Asked Questions about Projects
Why use projects?
Projects allow you to track special events without adding new general ledger accounts. Project Groups allow you to get reports on specific categories such as festivals, temporarily restricted funds, etc. Chapter 2 of the ParishSOFT Accounting User Guide has detailed information on setting up and using Project Groups and Project Codes.
Is there a limit to the Project Code field?
The code can contain a mix of alphabetic and numeric characters, the length is limited to 20 characters.
Is there a limit to the Project Group field?
The code is limited to 4 digits
Can you assign a Project to more than one group?
No, a Project can only be assigned to one Group
Can Projects have budgets?
Yes, they can. You can enter the budget in Setup, Projects, find the project, enter your amounts and click Submit. Keep in mind that Project budgets do not zero out automatically; you will have to update the project if your budget changes.
Where can I find Project Reports?
Go to Reports, Transactions, Project Report
At the end of the year, do projects zero out like income statement accounts?
No, since projects are like a "label" on a transaction rather than an account, the project history is always available for reporting.
Why are some values on the report negative?
- All transactions using an Income Account as the line item will be included in the Revenue Section of the Project Report; it will display as negative if the Income is Debited or if a negative Income amount is Credited.
- All transactions using an Expense Account as the line item will be included in the Cost Section of the Project Report; it will display as negative if the Expense is Credited or if a negative Expense amount is Debited.
- All transactions which Credit a Dedicated Account as the line item will be included in the Revenue Section of the Project Report; if the associated value is negative, it will display as negative.
- All transactions which Debit a Dedicated Account as the line item will be included in the Cost Section of the Project Report; if the associated value is negative, it will display as negative.
Once I set up a project can I go back in time and assign project codes to accounts?
Any transaction in Bills, Credit Cards, Deposits and Journal entries can be edited and assigned a project code at any time. The project codes may also be removed from these transactions at any time.
Can I delete a project?
You can only delete a project if it has NO activity. The Delete button won't be visible if the project has activity. If you need to delete a project, you must edit each transaction that contains that project and remove this project code first.
Can I select the order in which project information displays in the Project field during new transaction entry in the Bills and Deposits screens?
Yes, you can. You may set the Project Code to display either before or after the Group Code. To set your preferences go to Setup, User Options.
- PSA User Guide.pdf10 MB