Close a Project
Overview
Before
you start
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Verify that all the work your company has undertaken for this project has been completed.
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Process any invoices outstanding, including retainage invoices. (If you close a project that has invoices outstanding, you must reopen the project if you want to post the invoices, later. )
To close a project:
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Mark the project Completed, as follows:
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Open Project and Job Costing > PJC Transactions > Contract Maintenance.
Click here for help on the fields on the Contract Maintenance form.
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In the Contract field, type the contract number or use the navigation buttons or the Finder to display the contract to which the project belongs.
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On the
contract Tree,
click the number for the project you want to close.To display the Tree view, from the File menu, click Show Tree.
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On the Project tab of the Project Maintenance form, change the status of the project you want to close to Completed.
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Click Save under the Project tab to save your change.
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Click Save on the Contract Maintenance form to save the contract.
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Use the Create Revenue Recognition Worksheet to recognize revenue for a range of projects that includes the one you want to close.
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Display the worksheet in the Revenue Recognition Worksheet form, then click Post to post the entries. The program displays a message, asking if you want to confirm closure of each project separately, or only for projects whose revenue exceeds the estimate, or close all projects without confirmation.
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Select whether or how to confirm closure of the projects, then click OK.
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If you selected an option to confirm closure, the program displays a message for each project until it has finished closing projects, unless you subsequently select the option to close all projects.
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Click Yes to mark the project, or projects, Closed.
When you post the revenue recognition worksheet, click Yes when asked whether you want to close the project.