Actual costs in Projects

[Former Member]

Hi All,

Commitment costs are raised by issuing PR's & PO's.

Can you tell me how Actual costs are raised in projects,please mention all cases.

Muzamil

[Former Member · Accepted solution]

Hi,

Actual costs are posted in prject in /and from a host of sources:

1.Confirmation of activities

2.Goods Receipt against account assigned purchase orders / service orders

3.Goods Issue against project reservations

3.Confirmation of account assigned orders

4.Settlement

5.Transfer posting

Regards

Muraleedharan.R

091 9880028904

[Former Member]

Hi,

Actual Cost are raised whn the commitments are realized i.e. Goods reciept/invoice reciept made. In case of internal activity there wont be any commitment it will become actual when it is confirmed. Goods Issue against project reservations also makes actual postings. Settelement and transfer posting leads to actuals.

Regards

Murali

[Former Member]

Hi,

On releasing PR/PO of materials the same will come as committment and on goods receipt of the materials, the same will become actual cost of the project in case of externally procured materials.

Regards,

Rakesh Pradhan

[Former Member]

Hi,

Confirmation of commitments (ie goods issue in case of PO) results in actual costs. Apart from this, confirmation of activity also results in actual cost provided the activity carries planned cost.

Reward points if useful.

Regards