Generating Actuals from Timesheet Data

Generating Actuals from Timesheet Data 

Description of change

Timesheet data can now be used to generate actual cost in Enterprise Financials.

This feature brings value to customers who do not have full integration to their financial management system(s) and want to generate labour costs automatically from their users’ hourly rates.

The actual data is not generated in real-time; a scheduled job is now available (Admin | System | General | Jobs that will generate the actuals when run:

By default, Job 62 – Generate Actuals From Timesheet Data – is not enabled.  To enable this feature, enable the job and configure the frequency as required.

The job will loop through all non-archived projects on the system and for each project it will check if there are APPROVED time entries for the project.  Where there is approved time for the project the cost is calculated by multiplying the hours entered in the timesheet by the user’s hourly rate

The cost is allocated to an account code as follows:       

• If the user was planned on the task then the account code comes from the account code linked to the user on the task
• If the user was not planned on the task then the account code comes from the user's default account code
• If there is no account code linking the user to the task and the user does not have a default account code, no cost is generated

The job will replace any pre-existing data for the account code and period (i.e. if there was a value for a/c ABC in Jan 2022, this value is replaced with the value calculated from the timesheet data)

The job will not update data for any account codes where it does not find timesheet data - i.e. the project could have actuals for a mix of account codes - some related to labour costs and others not.  Only labour related rows would be changed by the job

The job will update the Saved actuals for the project.  It will not create an approved actuals iteration 

Notes

This feature is not currently compatible with the Rate Matrix functionality

This feature is not compatible with the ability to enter time sheet data as a percentage

For customers who only want to generate actuals form timesheet data, recommended configuration is to turn off the manual entry of actuals and to not configure any workflow for actuals.

Customers may continue to allow the manual entry of actuals data but should bear in mind that the job will overwrite any labour costs entered manually.  It is recommended to have separate account codes configured for costs that will come from the timesheet from those used for other, non-labour, costs.

Workflow may be enabled on actuals, but the job will only create/update the saved actuals data.  The data generated by the job would have to be manually submitted to workflow in the same way as if it had been entered manually.

The job will not update the actuals for any project where there is an active workflow on the actuals data (i.e. a user has submitted actuals values and they have not yet been approved)