to open Contract Lookup, and then select the ID of the contract from the list. Multiple projects may have the same Contract ID assigned to them.Use the Project screen to maintain the information about your company’s projects. A project is typically something that you complete for a customer (for example, provide a service or produce a deliverable), or it can be something that you complete for your organization (for example, design the cubicle arrangement for a new branch office).
Project information consists of general details such as a project ID, description, status, type, start and end dates, manager, departments and billing information for the project. Projects typically include tasks, customer name and address, contact details, billing terms, invoice format, billing rates, and billing plan (either progress billing or scheduled billing). See About Project Billing Schedules.
Project information may also include project budgets (original and revised quantities and amounts) in addition to budget exclusions. The amount of information defined for each project depends on the project and your business procedures.
All projects require the general information maintained on the Main tab in Project.
Projects that you intend to manage at the task level require you to specify and maintain information on the Task tab. When you decide to use tasks on a project, the tasks become available for all the projects that you create. Tasks are defined in Task Definitions under Projects | Setup.
Projects that you create for a customer require you to specify and maintain information on the Billing Information and Bill To tabs in Project.
Budgets for projects are created and maintained on the Budget tab in Project. If the project has budget exclusions, use the Budget Exclusions tab to create and maintain the details.
Main tab
Select Projects | Projects. Project appears and the Main tab appears.
In Project, type a unique identifier or project ID/code for this project.
Type a description of the project in Description. The description should include all the pertinent information about the project. This description will appear on all project invoices created for this project ID.
In Type, select the kind of project. The project type is used as optional selection criteria in some project reports and also assigned a utilization category (commonly set up as Billable, Non-Billable, Holiday, Sick/Personal, Vacation, etc.) that is used on the Staff Utilization report. You can also create a new type by using the Quick Add feature. For more information, see Quick Add. For more information on setting up types, see Project Types. The description should be assigned something meaningful to your billing types, such as Billable Weekly, Billable Monthly, Bid, Bid & Proposal, etc.
Important: The utilization category is specified in Project Types. This determines whether the project is billable or non-billable, regardless of the description of the type.
Select the status of the project in Status. It is used to determine where the project can be used throughout the system. Valid options include the following:
Active – Used when the project is available for use throughout the system.
Closed – Used when the project is no longer available for transaction processing, but can be included in reports.
Inactive – Used when the project can be billed, collected, and budgeted. No time or expenses can be entered against the project while it is inactive.
In Plan Start, specify the date the project is estimated to begin. This is for information only.
Note: If you update the Plan Start Date, the message "Do you want to automatically update all Task Plan Start dates?" is displayed.
Select Yes to have the Task records which already have a Plan Start date updated to the new Plan Start Date.
Select No to update the Task fields manually.
In Plan End, specify the date the project is estimated to end. This is for information only.
Click to clear the Task Required check box if the project does not require a task on each transaction.
In Contract, enter the number of the contract associated with this project or click Lookup to open Contract Lookup, and then select the ID of the contract from the list. Multiple projects may have the same Contract ID assigned to them.
The message "Would you like to automatically update the dependent field(s) based on this new value?" is displayed. Select Yes to update the Plan Start Date, End Date, Project Manager, all Dimension fields, Customer ID, Customer Name, Bill To Address, and Ship To Address with the respective information from what was entered in Project Contract. Select No to update these fields manually.
The message "Do you want to automatically update all Task Plan Start? If you choose Yes, then Task records which already have a Plan Start will be postponed or advanced." is displayed. Select Yes to update the associated tasks. Select No to update the Task fields manually later.
In Contract Type, select the revenue recognition method and the accounts to which you want to post revenue transactions for this project. Additional Contract Types may be entered using the Quick Add feature. Valid options include:
Fixed Price – Used for contracts that have a fixed price associated with them.
Fixed Price Plus Expenses – Used for contracts that have a fixed priced associated with them and all expenses will be covered.
Time and Expense – Used for contracts set up to cover time and expense.
Time and Expense to a Maximum – Used for contracts set up to cover time and expense with a maximum spend amount specified.
Note: If this project will use progress billing, you must select one of the fixed price contract types.
In Project Manager ID, click Lookup to open Resource Lookup, and then select the ID of the resource that is responsible for the project. You can also create a new Project Manager ID by using the Quick Add feature.
Or, in Project Manager Name, click Lookup to open Resource Lookup, and then select the name of the resource that is responsible for the project. You can also create a new Project Manager Name by using the Quick Add feature.
If one or more dimension codes are activated in Chart of Accounts Policies, they are displayed below the Project Manager Name field. In each available field, select the ID of the responsible account group to associate with the project.
Timesheets, weekly timesheets, and expense report transactions are posted to this group if Organization Assignment is set to Project in Project Policies.
You can also create a new responsible account group using the Quick Add feature.
In Time Approval Workflow, select the workflow to be followed for approval of timesheets for this project. (Time approval workflows are defined in the Beyond Mobile app.)
In Expense Approval Workflow, select the workflow to be followed for approval of expense reports for this project. (Expense approval workflows are defined in the Beyond Mobile app.)
Task tab
If the Task Required check box is unchecked on the Main tab, the Task tab will be disabled. When it is checked, complete the following fields:
In Reported Project % Complete, enter the percent complete based on your guesstimate of how far along the project is or information gathered from resources working on the project. Value values are 0.00% - 999.99%.
When a project is budgeted in the Budget Detail field on the Budget tab at one of the four Project - Task options (Project - Task, Project - Task - Bill Transaction Type, Project - Task - Project Account or Project - Task - Resource), the system will automatically calculate the Computed % Complete amount based on the following formula: Total actual project task costs/Total budgeted project task expenses WHERE the Total budgeted costs IS NOT 0.00. The Computed % Completed amount will be computed when time is approved. When a project is not budgeted at a Project - Task level, the value displayed will be 0.00%.
In Task Component 1, specify a component of a predefined Task ID value for the current project. The list of possible values includes those values that are defined in Task Definitions. For more information, see also Project Policies.
Specify a description for the task in Description. This description will be printed on project invoices that include the field in the invoice format.
In Plan Start, specify the date the task is estimated to start. If a Start Date was entered on the Main tab, it will default here. This is for information only.
Act Start will populate once the first transaction is saved for this project-task combination.
In Plan End, specify the date the task is estimated to be completed. If an End Date was entered on the Main tab, it will default here. This is for information only.
Act End will populate once the task for this project is marked complete.
(Optional) In Task Manager Name, click Lookup to open Resource Lookup, and then select the name of the resource that is responsible for the task. You can also create a new Task Manager Name by using the Quick Add feature.
In Status, select the current status of the task. This is for information only. You can create a new Status by using the Quick Add feature. The valid choices include the following:
None - Used when there is no desire to keep track of a tasks status or before the task is completely set up.
Pending – Used when the task is waiting to begin or to be restarted.
In-Process – Used when the task is in process.
Complete – Used when the task is finished. Once the task is marked complete, resources will no longer be able to select it for time and expense entry.
Hold – Used when the task is temporarily stopped.
Click to clear the Active check box when the task is not available for transaction entry.
Select Where Used to specify if the task will be available for time, expense or both. The valid options include:
Expenses Only – Select this option if the task represents expense entries only.
Time and Expenses – Select this option if the task represents time and expenses.
Time Only – Select this option if the task represents time only.
Enter the Reported % Complete per task. Manually determine the percent before entry.
The Computed % Complete will display automatically. It is calculated as Total actual project task costs/Total budgeted project task expenses. This field is updated as time and expenses are approved.
Repeat step 1 through step 11 for each task that you must create.
Budget tab (Optional)
Revenue and expense budgets may be created based on a number of budget detail options. As labor and expenses are charged against the project or project-task combination, the budget will be reduced. The Budget tab should be used to view Budget vs. Actual results as well as make any revisions to budgets.
In Budget Detail, select the level at which you want to capture budget figures for the project. Separate revenue and expense budgets are created at the level that you specify. A best practice is to budget at the lowest level of detail that you must have to meet billing (Fixed Price versus Reimbursable differentiation at a minimum), client reporting requirements, or internal management requirements. Valid options include the following:
None
Project – Used to budget information by Project.
Project - Bill Transaction Type – Used to capture budget information by Project and then Bill Transaction Type.
Project - Project Account – Used to capture budget information by Project and then Project Account.
Project - Resource – Used to capture budget information by Project and then Resource.
Project - Task – Used to capture budget information by Project and then Task.
Project - Task - Bill Transaction Type – Used to capture budget information by Project, Task, and then Bill Transaction Type.
Project - Task - Project Account – Used to capture budget information by Project, Task, and then Project Account.
Project - Task - Resource – Used to capture budget information by Project, Task, and then Resource.
Note: For Percent Complete or Milestone Completion progress billing projects, the project must be budgeted at one of the four Budget Detail selections that include Project - Task. If one of the Project - Task budget options is not selected, the computed percent complete values displayed will be 0.00%.
The Project Budget grid dynamically changes for data entry based on the option that you selected in Budget Detail. The columns that are used for data entry are based on the option that you selected. Once a budget is defined, do not change the Budget Detail selected or your budget data will be removed.
Task – Task being budgeted. Available only if Budget Detail set to one of the options that begin with Project - Task (where Task is a variable defined in Project Policies.)
Type – Fixed values of Project Revenue, Project Expense, and Project Net. If Budget Detail is set to Project or Project - Task (where Task is a variable defined in Project Policies), the budget amounts are specified at this level. If not, the value that you specify in the Bill Transaction Type/Project Account levels will show Revenue and Expense subtotals.
Bill Transaction Type – Defines the level of detail to view the budgeted Bill Transaction Type (i.e., revenue and expense). This column appears if you selected Project - Bill Transaction Type or Project - Task - Bill Transaction Type in Budget Detail.
Project Account – Defines what project account will be budgeted. This column appears if you selected Project - Project Account or Project - Task - Project Account in Budget Detail.
Specify the Labor Category for which the billing rate exception applies. Select ALL, if the billing rate exception applies to all labor categories.
Original Amt – Original budget amount. If you selected Project - Bill Transaction Type or Project - Task - Bill Transaction Type in Budget Detail and Labor or Service in Bill Transaction Type or the project account has a bill transaction type of Labor or Expense, the amount is treated as budgeted labor amount in the various project reports. This field is automatically recalculated when the Original Qty is changed AND the Use Billing and Std. Cost Rate for Budgeting check box in Project Policies is selected AND the project that is being budgeted must have billing rates assigned in the Billing Rates dropdown on the Billing Information tab of Project Policies AND the project resources assigned to the project must have their Std. Cost Rates set up. The Std. Cost Rates may be defined in the History section of Resource under Projects by setting the Std. Cost Rate column IF the Labor Costing Method field is set to Resource in Project Policies. If the Labor Costing Method field is set to Labor Category in Project Policies, then set the Std. Cost Rate column in the Labor Categories screen under Projects | Setup.
Original Qty – The original quantity or hours that you are budgeting. This column appears if you selected Project - Bill Transaction Type or Project - Task - Bill Transaction Type in Budget Detail, and you set the Bill Transaction Type column to Labor or Service or the Project Account has a bill transaction type of Labor or Expense. This column also appears if you selected Project in Bill Transaction Type. In this case the value is treated as hours, not quantity.
Revised Amt – Revised budget amount. If you selected Project - Bill Transaction Type or Project - Task - Bill Transaction Type in Budget Detail and Labor or Service in Bill Transaction Type or the project account has a bill transaction type of Labor or Expense, the amount is treated as budgeted labor amount in the various project reports. This field is automatically recalculated when the Revised Qty is changed AND the Use Billing and Std. Cost Rate for Budgeting check box on Project Policies is selected AND the project that is being budgeted must have billing rates assigned in the Billing Rates dropdown on the Billing Information tab of Project Policies AND the project resources assigned to the project must have their Std. Cost Rates setup. The Std. Cost Rates may be defined in the History section of Resource, by setting the Std. Cost Rate column IF the Labor Costing Method field is set to Resource in Project Policies. If the Labor Costing Method field is set to Labor Category in Project Policies, then set the Std. Cost Rate column in the Labor Categories screen.
Revised Qty – Revised budget quantity. If you selected Project - Bill Transaction Type or Project - Task - Bill Transaction Type in Budget Detail and Labor or Service in Bill Transaction Type, or the project account has a bill transaction type of Labor or Expense, or you selected Project in Budget Detail, the quantity is treated as budgeted hours in the various project reports.
Click the Schedule button to open Resource Scheduling.
Click the Change Orders button to open Project Change Order.
Change Order screen
The Project Change Order screen allows for the entry of change orders that are either additive to the original project budget amount or are a change to the total project budget amount.
On the Budget tab, click the Change Orders button.
In the Number field, enter the revision number for the change order.
The Type dropdown allows a user to identify the type of change order. Valid options include:
Additive Change – Amount to be added to the original budget amount.
Revised Total – Amount to change the total budget amount to.
Enter the date of the change in Date.
Enter the amount of the change in Amount.
Enter the Hours that reflect the change amount.
In Description, enter the description you wish to use to note the change. This is often the reason for the change.
Enter the status of the change in Status. Valid options include:
Approved – Date the change is approved.
Pending – Date the change is entered.
In Approval Date, enter the date the change is approved.
Budget Exclusions tab (Optional)
The Budget Exclusions tab is available only for projects where the Contract Type that you specified on the Main tab is Fixed Price Plus Expenses or Time and Expense to a Maximum. The exclusions to the budget that you specify here identify transactions that will be excluded from the fixed price piece of the project.
In Type, select the type that determines how you want to identify the transactions. Valid options include the following:
Task – Task being excluded from the budget.
Bill Transaction Type – Billing Transaction type being excluded from the budget.
Project Account – Project account being excluded from the budget.
Bill Transaction Type – Specify the bill transaction type that you want to exclude. This is only enabled if you selected Bill Transaction Type in step 1. Valid choices include the following:
Contract Item – Used to exclude contract items from the billing.
Expense – Used to exclude expense items from the billing.
Labor or Service – Used to exclude labor or service transactions from the billing.
Miscellaneous – Used to exclude miscellaneous transaction type items from the billing.
Project Account – Specify the project account that you want to exclude. This is only enabled if you selected Project Account in step 1. Valid choices include the following:
Revenue - Accrual
Revenue - Adjustments
Revenue - Expense - Billed
Revenue - Expense - Write-offs
Revenue - Labor - Billed
Revenue - Labor - Write-offs
All Tasks – Click to select the check box if you want to exclude all tasks. Otherwise, click to clear the check box, and then specify the task that you want to exclude in Task. This is only enabled if you selected Bill Transaction Type or Project Account in step 1.
Task – Specify the task that you want to exclude. This is enabled if you selected Task in step 1. Or, this is enabled if you selected Bill Transaction Type or Project Account in step 1 and you cleared the All Tasks check box.
Description – Contains the default description for the task that you specified in Task. Display-only.
Billing Information tab
In Customer ID, click Lookup to open Customer Lookup, and then select the ID of the customer for whom this project is associated. You can create a new Customer ID by using the Quick Add feature.
Or, in Customer Name, click Lookup to open Customer Lookup, and then select the name of the customer for whom this project is associated. You can create a new Customer Name by using the Quick Add feature.
Currency is display-only and shows the customer's currency. This field is included only if you are using Multicurrency in your Beyond Software system.
In Terms, select the payment terms for this project. These terms are used to determine the Discount Date and Due Date of invoices that you create for this project. You can also create a new Terms by using the Quick Add feature.
In Customer PO/Contract Number, specify the unique identifier that you assigned to the agreement that you have with the customer for this project.
In Invoice Message, specify information that you want to appear on the standard project invoice. This information could contain special instructions about how the project was set up, how it is progressing, or special payment agreements that you negotiated before the project began. This message is specific to this project and prints on the body of the project invoice.
In Additional Invoice Message, click the down arrow 
to select an existing Comment/Message from the list or select New from the list to open Comment/Message and create a new Dunning Message. Specify the message that you want to appear on the project invoice below the Invoice Message. This field is often used to include holiday greetings, discount information, or promotions at the end of the project invoice. The message selected here, can also be used to print on project invoices for multiple project IDs. For more information, see Comments and Messages. You can also create a new Comment/Message by using the Quick Add feature.
In Project Invoice Format, select the default invoice format for the project. The selected invoice format will be honored as the default format when printing invoices in Project Invoice and Customer Invoice and Adjustment. Other formats may be selected in those screens if/when the default format is not desired.
Select the Services (Labor) Billing Format to determine the level of detail that will print in the body area of the project invoice. Valid options include the following:
Task – Used to include task level information only.
Task - Labor Category – Used to include task, and then labor category information.
Task - Labor Category - Resource – Used to include task, labor category, and then resource information.
Task - Labor Category - Resource - Date – Used to include task, labor category, resource, and then date information.
Task - Labor Category - Resource - Date - Bill – Used to include task, labor category, resource, date, and then billing comment information.
Select the Expenses Billing Format to determine the level of detail that will print in the Expenses area of the invoice. Valid options include the following:
Project Account – Used to include project account information only.
Project Account - Resource – Used to include project account and resource information.
Project Account - Resource - Date – Used to include project account, resource, and then date information.
Project Account - Resource - Date - Bill – Used to include project account, resource, date, and then billing comment information.
In Billing Rates, select the billing rate schedule that you want to use on the project. When Multicurrency is enabled in your system, only billing rates with the customer’s same assigned transaction currency can be selected.
The billing rate schedule is the key to determining whether transactions created throughout the system create billable values that appear in Project Invoice.
Note: The fact that labor hours or expenses are charged to a project does not determine whether the hours and expenses are displayed on a project invoice. They must also be marked up based on the billing rates schedule that is associated with the project or rate exceptions specified at the project level. If billing rates are not set up correctly, the billable values must be manually created in Project Transaction or in Project Invoice.
You can also create a new Billing Rate by using the Quick Add feature.
Note: If the Contract Type in the Main tab of Project is set to Fixed Price, set this field to None since percent complete billing does not use billing rates. If Fixed Price Plus Expenses is used, then set this field to a Billing Rate that represents reimbursable expenses only.
Click Rate Exceptions to open Billing Rate Exception, and then specify the project level overrides to the Billing Rates contained in the Billing Rates schedule specified for the project. This button is only enabled when the Contract Type is billable. See Billing Rate for a description of the hierarchy used to determine billing rate application.
Note: The values entered in Billing Rate Exception override all other billing rates defined as this information will be used first when time is approved to determine the correct billing rate.
Enter the Project Account for which the billing rate exception applies.
Specify the Labor Category for which the billing rate exception applies. Select ALL, if the billing rate exception applies to all labor categories.
Click the All Resources check box to have this billing rate exception applied to all resources.
In Resource Name, enter the specific resource for which the billing rate exception applies. If the All Resources check box is selected, you cannot enter a specific resource name.
Enter the Task for which the billing rate exception applies. If the billing rate exception applies to all tasks, select All.
Enter a Description for the specific task entered in Task. If you selected All in Task, you cannot enter a description.
Enter the Effective Date when the billing rate exception takes effect. Select Non-Billable if the transaction will be treated as non-billable to the customer and given a billing rate of zero. The billing rate will be set to zero where the regular billing rate is a nonzero value. If this flag is not selected, the billing rate will not be touched.
In Apply Rate To, select Units or Amounts. Select Units if you want the billing rate exception to be based on hours. Select Amount if you want the billing rate exception to be based on an amount.
In Rate specify the exception rate that should be applied.
Back on the Project screen, in Billing Schedule Type, select the type from the dropdown list options.
If the Contract Type field on the Main tab is set to either Fixed Price or Fixed Price Plus Expenses, the valid options for this field include None (default), Date Oriented (Detail), Date Oriented (Summary), Milestone Completion, and Percent Complete. Otherwise, the valid options include only None (default), Date Oriented (Detail), and Date Oriented (Summary). See also About Project Billing Schedules.
None (default) – Choose this option when there is no billing schedule in use. The Billing Schedule grid will be disabled.
Date Oriented (Detail) – Choose this option to define a detailed billing schedule. These fields are provided: Billing Date, Units, Amount, Internal Description, Task, Task Description, Project Account, Invoice Project Account, Resource Name, Labor Category, Invoice Comment, Status, Billed Amount, Write-Off Amount, Remaining Amount, Original Amount, and Partial Bill Sequence.
Note: Date Oriented (Detail) provides the billing schedule that was defined prior to the introduction of the Progress Billing feature.
Date Oriented (Summary) – Choose this option to define a billing schedule with these fields: Billing Date, Amount, Internal Description, Project Account, Invoice Project Account, and Invoice Comment. This represents a summary view of the detailed billing schedule.
Milestone Completion – Choose this option to use progress billing for which amounts are calculated automatically based on budget amounts and milestone completion. This information must be specified in the Billing Schedule grid: Task, Task Description, % of Project, Bill at Completion, Internal Description, Project Account, Invoice Project Account, Resource Name, Invoice Comment, and Status.
Percent Complete – Choose this option to use progress billing for which amounts are calculated automatically based on budget amounts and the project percent complete. The Billing Schedule grid will be disabled.
Billing Schedule grid
The Billing Schedule grid fields to be displayed are dependent on the option selected in the Billing Schedule Type field. See Billing Schedule Type for details of what will display in the grid based on the option selected.
These steps include descriptions of all fields:
In Billing Date, specify the date to be used to determine whether an item is selected into a Project Invoice. If the date specified in Project Invoice is greater than or equal to this date, any previously unbilled billing schedule item is selected into the Project Invoice when you click Update Detail. You can then bill (or not bill) the same as any other billing transaction.
If you are using the Inventory module and have enabled the item list on the Project Policies screen, Items tab, then an Item ID field is displayed for date-oriented detail billing schedules. You can select an item to add to the billing schedule. When Multicurrency is enabled in your system, only items with the customer’s same assigned transaction currency can be selected.
In Units, specify the number of hours or items for the transaction.
If you have selected an inventory item, specify the Unit Price.
Enter the Amount scheduled to be billed as part of this transaction. If you have entered a number of units and the unit price, the amount is calculated automatically.
Specify a billing item description in Internal Description. This is not printed on the invoice.
In Task, specify the task under which the item is billed. This is set to the default task value if the project does not have Task Required selected in the Main tab.
Task Description displays the description of the task in Task. Display-only.
In Project Account, select the cost project account that you want to use to determine in which section of the invoice the billable transaction appears.
In Invoice Project Account, select the revenue project account to which the invoice amount will be posted. This also determines the General Ledger account to which the revenue will be posted.
(Optional) In Resource Name, click Lookup to open Resource Lookup, and then select the name of the resource that is responsible for the billing schedule item.
(Optional) In Labor Category, select the labor category that you want to associate with the billing schedule item.
In Invoice Comment, click Lookup to open Comment Lookup, and select a comment that will be printed on the invoice.
Status is set to Scheduled when the item is created and to Released after the item is billed through Project Invoice. You cannot change the transaction after the status is Released.
The Billed Amount, Write-Off Amount, Remaining Amount, Original Amount, and Partial Bill Sequence fields are display-only and show updated information as the customer is invoiced for work on the project.
When the billing schedule type is set to Milestone Completion, these fields are included:
% of Project: The percentage of the overall/total project’s work effort represented by the selected project task. This value is defaulted based on the Bill at Completion amount when a project budget has been entered.
Bill at Completion: The amount to be billed when the selected project task is completed. When a budget has been entered for the project, the % of Project column will be defaulted to the Bill at Completion amount / budget’s Project Revenue - Revised Amt.
Bill To tab
Use this tab to select which customer-related address, telephone number, and email addresses to identify who will be billed on the project.
In Type, the “Business” type address automatically appears when you select the customer. You can select a different address if another address type exists. You can also create a new Type by using the Quick Add feature.
The customer’s address information appears in Line 1, Line 2, City, State, Zip Code, and Country. To edit the customer's address information, select Financials | Customers.
The customer’s telephone number appears in Phone. You can also create a new Telephone number by using the Quick Add feature.
The customer’s fax number appears in Fax. You can also create a new Fax number by using the Quick Add feature.
The customer’s email addresses appear in Email Address. To add another email address to the project, click the new button , click Lookup to open Email Address, and then select the New button. Enter the Address, select an unused Type and save.
Click Save and New, or click Save and then click New, to save the current Bill To address and start adding the next.
Ship To tab
Use this tab to select which customer-related address, telephone number, and email addresses to identify where to ship project deliverables.
In Type, the “Business” type address automatically appears when you select the customer. You can select a different address if another address type exists. You can also create a new Type by using the Quick Add feature.
The customer’s address information appears in Line 1, Line 2, City, State, Zip Code, and Country. To edit the customer's address information, select Financials | Customers.
Click Save and New, or click Save and then click New, to save the current Ship To address information and start adding the next.
A: A calendar needs to be set up for the current year for which the budget is defined.
A: Follow these steps:
Select Projects | Projects.
Find the project you want to re-open.
In the Status field, select Active.
Click Save.
Active status is used when the project is available for use throughout the system.
Closed status is used when the project is not available for transaction processing, but can be included in reports.
Inactive status is used when the project can be billed, collected, and budgeted.
Note: You can update the status at any time as long as you understand the ‘state’ of each status. For example, if you choose to inactive a project, you could process the transactions that have already been done but the project would not show up in the project list for any new transactions.