Transaction processing overview

Project Accounting transactions can originate from a variety of sources and can be processed for a variety of purposes. When you process transactions, you capture the data to store in the activity structure you defined during setup. Processing creates activity transactions, updates activity balances, and makes the most current information available for reporting and analysis.

Transaction origination

These are the several types of processing that you can perform in Project Accounting:

  • create entries directly in Project Accounting that cannot be created from any other source

  • interface transactions from non-Lawson applications, such as a point of sale or patient billing system

  • transfer transactions from other Lawson applications, such as Accounts Payable or Payroll

Releasing and posting

After entries are created in Project Accounting or brought in from other sources, you will need to perform these tasks:

  • release any entries you created directly in Project Accounting

  • post all entries, regardless of the method used to create them

You can also change the activity, account category, description, or transaction attributes associated with transactions prior to posting them.

Illustration: Transaction processing in Project Accounting

Other processing options

In addition to capturing and processing transactions, you can perform other special processing options in Project Accounting, including:

  • setting up commitments to capture costs that will be charged to an activity at a future date

  • processing encumbrances to create General Ledger transactions from current activity commitments

  • creating assets in the Asset Management application from activities used to track capital project costs

  • closing Project Accounting (optional)

Finding details in this section

You can find details about concepts and procedures related to transaction processing in the following Project Accounting User Guide chapters and in other noted resources.

Processing option Description For details, see
Tracking commitments A commitment is an expense that will be charged to an activity at a future date. Commitments represent obligations that were incurred, but not yet paid. Use the procedures in this chapter to set up commitment tracking. Processing commitments
Creating transactions You can create entries directly in Project Accounting or bring in transactions from other sources. To complete processing, you must post those transactions. Processing transactions
Processing encumbrances You can use encumbrance processing to create General Ledger transactions from current activity commitments. Encumbrances are designed to be processed once per period and auto-reverse in the following period. Accessing data online\
Capitalizing projects and activities You can accumulate costs for capital projects in Project Accounting. When the project is complete, you can interface information to Asset Management to create one or more assets that you want to place in service. Capitalizing activities
Closing a period Closing a period is optional in Project Accounting. If you use the closing control options that are part of General Ledger system control, you must run the Project Accounting period closing program before closing General Ledger. Closing a period