Adjust a Posted Transaction

Adjust a Posted Transaction

Overview

Note: You cannot adjust or transfer details for items that use serial numbers or lot numbers.

To adjust a posted transaction:

1. Open Project and Job Costing > PJC Transactions > Adjustments.

Click here for help on the fields that appear on the Adjustments form.

2. Click the New button beside the Adjustment Number field to let Project and Job Costing assign a number when you add the transaction.

3. Enter header information for the adjustment.

   • Accept the New status.

   • In the Transaction Date field, specify the date for the adjustment.

   The Year/Period field may change, reflecting the fiscal year and period to which the adjustment will be posted, unless you change the posting date.

   To change the posting date:

   • Click the Zoom button beside the Year/Period field to display the Posting Date Override form.

   • In the Posting Date field, type or select the correct posting date.

   • Press the tab key to update the Year/Period field to reflect the new posting date.

   • Click Close to return to the Adjustment Entry form.

   • Click the Zoom button beside the Optional Fields check box to view or edit adjustment optional fields, if you use optional fields.

   • Enter a description and a reference for the adjustment, using up to 60 characters for each.

4. Either click the Detail button or select a detail line, then press F9 to open the detail form.

5. Enter detail information using the Detail Adjustments form that appears.

   For each detail you enter:

   1. Accept the entry in the Line Number field, or click the New () button beside the field to start a new detail.

   2. If you use optional fields and you want to check or edit optional fields automatically assigned to the detail, click the Zoom button beside the Optional Fields check box.

   3. In the Adjustment Type field, select:

   • Adjustment, if you are adjusting a monetary amount or quantity for a transaction.

   • Transfer, if you are transferring the original transaction to a different contract, project, category, or resource.

   4. Use the following fields to identify the contract, project, category, and resource for which you are entering the adjustment or from which you are transferring the transaction detail.

   The field names vary depending on the adjustment type: (“Original” and “Revised” appear only for transfers.

   • [Original] Contract — the contract must be open or on hold.

   • [Original] Project — the project must be open or on hold.

   • [Original] Category

   • [Original] Resource. You must identify a resource for a standard contract. For a basic contract, you can enter a resource or leave the field blank.

   5. In the Document Number field, enter or select the document number of the posted transaction that you are adjusting or transferring.

   Note that you cannot enter a transaction that originated in Accounts Payable, Order Entry, Purchase Orders, or Payroll, or a transaction that has been billed in Accounts Receivable.

   6. If you are transferring a detail:

   7. In the Revised Contract field, specify the contract number to which to transfer the transaction. The contract must be open or on hold.

   8. In the Revised Project field, enter or select the project to which to transfer the transaction. The project must be open or on hold.

   Note that you can transfer transactions for time and materials projects only to or from another time and materials project.

   • In the Revised Category field, enter or select the category to which to transfer the transaction.

   • In the Revised Resource field, enter the resource to be adjusted. For a basic contract, you can enter a resource or leave the field blank.

   • If you are transferring an employee expense,a timecard detail for a non-labor category, enter the employee number for the correct employee in the Revised Employee Number field.

   7. If you are adjusting the detail in the original contract, project, category, or resource, enter the correct unit of measure, quantity, unit cost or extended cost, and (depending on the project type and accounting method) the billing rate or extended billing amount in the Revised column.

   8. If you are adjusting a material usage or material return that includes an inventory item that use the FIFO or LIFO costing method:

   1. In the I/C Bucket Type field, specify how to adjust the cost of the items in Inventory Control.

      Adjustments to material usage and material return transactions are also posted as adjustments in Inventory Control.

      For items using the FIFO or LIFO costing method, Inventory Control keeps track of the order in which units arrive at a location by storing each item’s receipt date, receipt number, quantity, and extended cost in individual “buckets.”

      You can choose:

      • Offset Bucket, to adjust only the offset bucket. (An offset bucket is used if you shipped more items than there were in stock at an inventory location. Offset buckets contain a quantity and a cost, but do not contain a date or receipt number.)

      • Specific Bucket, to select a specific receipt that contains the cost and quantity information for the transaction. Each bucket (apart from the offset bucket) is associated with a receipt number.

      • Prorate, to have the program prorate the adjustment across all buckets (including the offset bucket) for the item at the location. The number of units and the amount of cost prorated to each bucket is based on the quantity in each bucket.

   2. If you select Specific Bucket as the bucket type, in the I/C Document Number field, select the document number that was used to enter the item into inventory.

   9. Click Add (or Save) when you have finished entering information for the detail.

   10. When you are finished adding adjustment details, click Close to return to the Adjustment Entry form.

6. Click Add (or Save), then:

5. Click the New button beside the Adjustment Number field, if you want to enter another transaction.

6. Click Post to post the transaction, if it has been approved.

7. Click Close to close the Adjustments form.

After posting adjustments

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