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Project Transfer

Use the project transfer process to transfer a project and its related direct costs to another existing or newly created project.

You can transfer costs to a new project or to another level of the existing project. Because this process involves a major exchange of table data, perform a complete backup of your database before the transfer.

Note: The Project Transfer process is a serious undertaking and, depending on the project size, can be time consuming. Please exercise care when scheduling and executing this process.

What Does the Project Transfer Do?

This process transfers direct costs, if applicable, from both Balance Sheet and Income Statement accounts. Costs are transferred from one of the following:

  • An existing project to a new project at the summary account/organization level.
  • An existing project level to another level of the same project (no indirect burden costs are transferred).
  • Many existing projects to one new project. Costs are transferred at a summary account/organization level. (You cannot transfer costs from one project tree to another.)
  • An indirect project to a direct project (helpful when a contract is awarded).

Which Projects Are Eligible for Transferring Project Data?

For a project to be eligible for transfer, it must be active in the PROJ table and have one of the following project classifications:

  • Bid and Proposal (B & P)
  • Direct
  • Indirect
  • Independent Research and Development (I R & D)
  • Work In Process (WIP)

The transferring project's records must meet the following timing requirements:

  • The transfer (outgoing) project must contain only records for the current fiscal year.
  • The current (open) Costpoint year and fiscal period must be used as the transfer year and fiscal period.

Which Projects Are Eligible for Receiving Project Data?

For a project to be eligible for receiving, it must be active in the PROJ table.

When Should This Process Be Run?

Run this process at the end of the fiscal period to ensure that all project data are captured.  Make sure that you post all journals before running this process.

Special Features

You can repeat this process for the same project during the same fiscal year. Transferring a project at the end of one fiscal period does not prevent you from transferring this project again the following month. Of course, only the new amounts are transferred, but the data is still shown in a year-to-date format. No individual transaction amounts or fiscal period amounts are recorded in Costpoint, just one figure for each account-organization combination.

You can select which organization receives the outgoing project. Go to the Organization drop-down list on the Manage Project Transfer Information screen and select Performing, Owning, or Fixed. If you choose Fixed, you can select any active organization for receipt of this debit.

You can transfer more than one project into a single project by setting up multiple Manage Project Transfer Information screens with the same receiving project.

The Results

The transferred amounts appear only as a one lump-sum amount, rather than separated into individual transactions or fiscal periods.

After the transfer, the source project remains active and accepts charging, unless you modify the settings on the Basic Info tab of the Manage Project User Flow screen.

Before Running This Three-Screen Process

You should run this process at the end of the fiscal period to ensure that all project data are captured. Execute this process after posting bills and cash receipts. If the transfer (outgoing) project is a revenue-bearing project, you must compute and post revenue before the transfer.

No records from any other year can exist in the GL_POST_SUM table for this Transfer (outgoing) Project. 

After Running This Three-Screen Process

Once you have executed the Project Transfer process, you must recompute rates, compute burden, load labor rates, compute revenue, and post revenue.

Once the transfer is complete, any additional charges made to the Transfer (outgoing) Project in subsequent periods can be transferred into the Receiving Project. On the Manage Project Transfer Information screen, click to retrieve the transfer information. Modify the period and or subperiod and select the Active check box. Then go to the Create Project Transfer Journal Entry screen to create the JE to move the additional costs to the receiving project.

Risks

If you have already invoiced transactions for the transfer project, you must run the Update Project Transfer History Tables screen or the transactions on the receiving project are overbilled.

Wrong: If you update open billing detail when you compute the project transfer journal entry, post the journal entry, and then calculate bills, transactions are overbilled. All the debit records in open billing detail have the receiving project, and the credit records have the transfer project. As a result, these costs are invoiced again via the receiving project.

Right: If you update open billing detail when you compute the project transfer journal entry, post the journal entry, run the Update Project Transfer History Tables process, and then calculate bills, the transactions are correctly calculated. All the debit and credit records in open billing detail have the receiving project; only the unbilled transactions are invoiced.