Automatic write-off transactions for projects
Project closure feature is further enhanced to allow the users to automatically write off the WIP or debt balances on the projects based on the project manager approval. Once successfully approved the un-invoiced chargeable transactions will be adjusted as non-chargeable transactions and outstanding client balances will be write-off using standard write-off mechanism. This automatic write-off functionality is not applicable of customers bank account balances on the project.
Once submitted for approvals, power automate flow will execute and an email will be sent to the project manager to highlight the balances against each project so that the user can approve or decline writing off WIP & debtor balances automatically.
PARAMETER
Go to Project management and accounting > Setup > Project management and accounting parameters > General tab
| Fields | Description |
| WIP write-off line property | Specify the non-chargeable write-off line property. |
| Write-off journal | Specify the journal name to be used for writing-off outstanding client balances. |
| Days since last transaction | Specify the number of days without any transaction posted against the project. |
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Note – Parameter WIP write-off line property is mandatory and where as system will pick up standard write-off journal when the write-off journal field is left blank. |
SUBMIT AND APPROVAL OF AUTOMATIC WRITE-OFF
User can submit one or more projects to get the approval from project manager for each project. Automatic write-off will be applicable for those projects which has matter status is “Marked for closure”.
User can submit for approval of automatic write-off in two ways.
- Submit one or more projects from matter closure inquiry form for automatic write-off.
Go to Project management and accounting > Inquires and reports > Project closure > Project closure inquiry > Select project status as Marked for closure for inquiry > Automatic write-off
User can also specify detailed comments and reason code for write-off before submitting for approval.
- Submit for automatic write-off from projects list form.
Go to Project management and accounting > Projects > All projects > Select a project with Marked for closure status > Manage action pane > Automatic writ-off (Under Process)
Project Managers / Account Manager will get a separate e-mail for each project with outstanding balances for approval.
User can view the approval status and reason code at project level.
Go to Project management and accounting > Projects > All projects > General tab
| Fields | Description |
| Write-off status | This field will display the status of write-off approvals. |
| Reason code | This field will be auto updated based on selected reason code on automatic write-off submission. |
AUTOMATIC WRITE-OFF PERIODIC PROCESS
A new periodic process Automatic write-off which will process matters with write-off status “Approved” to automatically write-off WIP and client debt balances if any for the matter.
Go to Project management and accounting > Periodic > Auto write-off transactions > Automatic write-off
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