A key component of the financial configuration of Projectworks is the creation of the GL Codes to be used for associating with revenue (invoices) and costs (expenses).
Each budget line within a project needs to have a GL Code associated with it, with that code being used when raising invoices for those budget lines. GL Codes also need to be set up for use on expenses that a logged in Projectworks.
You don’t need to set up the full list of accounts from your financial system, just the ones that will be required for transactions recorded in Projectworks.
When setting up the integration to your accounting system you will create a mapping between the GL Codes in Projectworks to the corresponding accounts in your accounting system. This ensures data exported from Projectworks arrives in your accounting system correctly coded (eg invoice lines will be coded to the correct account based).
Before finalising your mapping to your Accounting system through the integration you will need to create the GL Codes in Projectworks.
Types of GL Codes
A set of codes to be used for revenue and a set of codes to be used for expenses can be set up in Projectworks. Codes for revenue are broken down into two categories; one for use on budgets used to track time, and one for budgets used to track expenses.
Revenue
Each budget line in a billable project needs to have a revenue GL Code set on it. The codes are automatically assigned to invoice lines when (based on the budget line the invoice is for).
Services Revenue
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These codes are able to be associated to time budget lines within a project
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A Services Revenue code called Sales, with code 200 is created by default in each Projectworks environment
Non-Services Revenue
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These codes are able to be associated to expenses budget lines within a project
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A Non-Services Revenue code called Other Income with code 260 is created by default in each Projectworks environment
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Note these are the codes you will use to record the revenue (invoicing) from oncharging expenses to customers. not the codes for coding a cost to your business
You can create a services and non-services version of the same code if your organisation doesn’t need to distinguish between the different types of revenue that Projectworks tracks.
Likewise, to record revenue to the same code as where expenses are coded you will need to create a non-services revenue GL Code to match the operating expenses version.
When setting up the mappings in the accounting system integration you can map multiple Projectworks GL Codes codes to the same account code in your accounting system. However, each GL Code in Projectworks can only be mapped to one account code.
Expenses
Expenses added in Projectworks all have an expense claim type (which is what people choose from when entering an expense), with each expense claim type linked up an operating expense GL Code.
Operating expenses
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These codes are able to be linked to expense claim types which need to be set up separately
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An Operating Expense code called Operating expense with code 999 is created by default in each Projectworks environment
When setting up the mappings in the accounting system integration you can map multiple Projectworks GL Codes codes to the same account code in your accounting system. However, each GL Code in Projectworks can only be mapped to one account code.
Refer to the Expense Claim Types article for more details on expense claim types →
Maintaining GL Codes
Click the blue + button to add a new GL Code. A GL Code can be edited by clicking the name of the GL Code or from the three dots to the right.
You can simply update the name and code of the existing “default” GL Codes to reflect the main codes your organisation uses.
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GL Code type: Determines where the code is able to be used (see above)
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Description: The name of the code
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GL Code: The number/code
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This GL Code is intercompany: Can be left unticked. There is no functionality linked to this.
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This GL Code is a discount: Can be left unticked. There is no functionality linked to this.
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This GL Code is active: Tick or untick to make the GL Code active or inactive .
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This GL Code is the default: Can be left unticked. There is no functionality linked to this (a default code isn't required).
Once a revenue GL Code has been used on a project budget the code can’t be changed from services to non-services or vice versa, or to operating expense. Likewise, if an operating expense code has been linked to an expense claim type it can’t be changed to a revenue code.