Project Accounting setup

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

Setup	Requirements	Reference
Currency	If you operate in multiple currencies, specify the information used for currency exchange.	See the Currency User Guide.
Activity Groups	Define one or more activity groups for the various initiatives that you want to track in Project Accounting. An activity group is the highest organizational component in the activity structure and represents a group of activities that are related by process or function. Because each activity will be assigned an activity group, you must define activity groups before you define activities.
Activities	Define activities to identify the tasks, process, or work breakdown structure within the activity group. Activities provide a framework for establishing and collecting budgets, costs, revenues, and statistical information.
Account Categories	Activity actuals, commitments, and budgets are stored in activities by account category. You can report on account categories across multiple activities. For example, you can use a Labor account category to see labor costs for all the activities across one or more activity groups. As part of account category setup, you will also decide how you want to assign General Ledger accounts to activities for data entry control.
Resources (optional)	As an option, you can set up resources to define or limit the sources of activity costs. A resource might be a person, employee, vendor, asset, or piece of equipment. You can track cost and unit balances by resources to see totals for individual resources within a given activity and account category.
Burdens (optional)	As an option, you can define burdens to automatically create transactions that capture overhead, fees, or other indirect costs associated with the transactions you post in Project Accounting. This provides a more accurate reflection of actual business costs for a given activity.
Attributes (optional)	Define attributes to track user-defined data in activities. Attributes can be used to group activities into lists, which you can use to select activity data for reporting and processing.