Account edits

Every transaction posted to or entered in Project Accounting contains these information:

You can define account edits by activity group to validate General Ledger and activity information during transaction entry. These are the available levels of validation:

  • 1 — GL Only Activity Group

  • 2 — No assignment required

  • 3 — Yes, substitute error suspense (posts the activity transaction to the Error Suspense account category if the combination is invalid)

  • 4 — Yes, require valid assignment (prevents data entry if the combination is invalid)

The account edits that involve General Ledger information are useful when you want to ensure that project or activity data gets posted to specific General Ledger company(s), accounting unit(s) and account/sub-account(s).

Note: GL Account Edits are applied when activity-related transactions are entered in any Lawson application.

Example

Moose Wood Outfitters uses Project Accounting to track new store construction. All costs collected for US store projects is posted to the Construction In Progress account for the Corporate accounting unit in their US General Ledger company. All costs collected for Canadian store projects is posted to the Construction in Progress account for the Corporate accounting unit in their Canadian General Ledger company.

Moose Wood Outfitters can use the Account Edit option in the activity group to indicate they want to validate the Company, Accounting Unit and Account in transactions that are posted to the projects. In addition to this, they will need to build a table that identifies the combinations of General Ledger company, accounting units and accounts.