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Importing Project Data
Chapter 16
Chapter Contents
16.1. Overview 16-316.2. Concepts 16-3What Data is Imported? 16-3Why Import Accounting History? 16-3How and When Do I Import Project Data? 16-4What Happens to My Model When I Import Project Data? 16-4Time Reporting Data 16-4Accounting History Data 16-5Resourcing Assignment Data 16-516.3. Using XXX's Import Feature 16-6Viewing Accounting History 16-6Using the Accounting History Dialogue Box 16-7Loading Resourcing Assignments 16-7
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Importing Project Data
16.1.Overview
This chapter explains how to use XXX's import feature to update your new projectmodels with resourcing assignment information, and your existing project modelswith historical accounting data.
16.2.Concepts
What Data is Imported?
Project data imported into XXX includes the following:
1Time Reporting
Days coded and charged to your project as captured by theTime Reporting System (TRS).
2Accounting History
Revenue recognized and project costs incurred to dateas recorded in ABC, including integration services, suppliers, interest charges,amortization of B&P, indirect allocation.
3Resourcing Assignments
Resource assignments as entered into ABC,identifying the resource, the duration of the assignment, and the percentage of time assigned to the project. Future releases of XXX will enable interchangewith external planning tools such as Project Workbench or Microsoft project
Why Import Accounting History?
To understand why your projects must be updated with historical accounting data,you must first understand the functional differences between XXX and ABC insupport of COMPANY projects. Fundamentally, XXX is a project forecasting andmodeling tool, whereas ABC is a project accounting system which retains historicalfinancial information about COMPANY projects.On an on-going basis, ABC is updated with project
actuals
; that is, with revenue andcost transactions, and resourcing days charged your Project actuals are used in manycalculations. For example, when forecasting revenue project. XXX to
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recognition for a fixed price contract, a key input is the percentage completion of the project. To calculate the percent complete, XXX needs to know the revenues andcosts booked to date as well as the estimated costs to complete the project.
How and When Do I Import Project Data?
If you are connected to your office’s local area network, then each time you open a project model, XXX checks whether the actuals information previously importedfrom ABC is current. If newer information is available, it is automatically importedinto your model. Automatic importing does not include resourcing assignment dataor changes; these are imported manually, if and when needed.
What Happens to My Model When I Import ProjectData?
When you import project data, only percentage completion and revenue recognitionhistory are updated (i.e. revenue and cost booked in ABC). None of the projections previously entered (resourcing assignments, supplier items) are overwritten or altered. The effect of importing each type of data is explained below.
Time Reporting Data
Hours coded to each project are captured by the Time Reporting System modulewithin ABC. This information is made available on your office local area network for loading into your project model. Loading time reporting data has the followingeffects:
1Time Coded to Project
The time coded by each resource, as captured from project timesheets, is loaded into your XXX model. This does not overwriteyour resourcing assignment projections. XXX keeps actuals and projectionsseparately.
2Time Charged to Project
ABC determines how many hours to charge toyour project based on the total hours coded by each employee during a monthly period. This never exceeds forty hours per week per employee, except whereovertime is paid to specific groups (e.g. shift differential and weekend pay for computer operators). In instances where employee timesheets report more than40 billable hours per week, ABC prorates the total charged by the percentage of time spent on each project. For example, if a total of 220 hours are reported in
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