Defining a capital project
A capital project can be defined in Budget Management or in Project Management.
If you only deduct forecast amounts from your budgets, it is sufficient to use Budget Management to manage capital projects.
If you also want to deduct contract line amounts and order costs from your budgets, Service Management and Contract Management are required as well.
To add a capital project, proceed as follows:
Procedure
1. In Budget Management > Project selection step.
2. From the action menu, select Add.
3. Complete the fields in the data section.
When defining a capital project, a couple of important settings must be selected that will influence the entire project. The settings are as follows:
◦ Budget type – You can select whether your project is a Capital expenditure (CapEx) or Operational expenditure (OpEx) based on the purpose of the project. The type of financial year is determined based on the type of project you select. If the project involves capital expenditure, the financial year is not relevant; in case of an operational expenditure the whole project must be booked on one financial year.
◦ Costs excl. VAT – You can decide if your project will be inclusive or exclusive VAT. The setting in System Settings > General is taken by default. This setting can be overruled for a single capital project.
The main level of the capital project is used to link a project and cost group structure, to make sure that budgets can be defined.
The project can be extended by creating a substructure of capital projects up to 3 levels deep. It is not possible to add projects of other types to a capital project.
4. Click Save.
A new capital project is added.
Budgets can be updated by several elements like orders, contract lines and forecasts.