Table of Contents

Timesheet to Finance Actuals Sync

Description

This feature allows Approved Timesheet hours against projects to be calculated and applied as Actuals in the project financials. Once Timesheets are Approved these Actual values will automatically be allocated to projects. There is no step that Project Managers need to complete to have these values display.

For this feature to work the Resource must be allocated a rate and a Cost Category must be selected for the actual values to be assigned to. If a Resource does not have a rate allocated to them they will be skipped (No error will be thrown).

Configuration settings

Image shows the Timesheet Finance Sync configuration screen

  • Display Name: Timesheet Finance Sync
  • Name: timesheetFinanceSync

Fields:

  • Allow Timesheet to Finance Sync: must be set to Yes for this feature to be turned on
  • Rate Type: Select what Resource Rate will be used to calculate the Actual amount
  • Default Cost Category: Select the Cost Category that these Actual values will be assigned to

Rules

This feature can be configured to calculate the Actual costs based on the Cost rate or Sell rate of the Resource. If a Resource's corresponding rate is not set, then no Actual data will be created for that Resource. Likewise if data in any period for a Resource calculates to 0, then no transaction will be created for that period for that Resource.

If a Default Cost Category has been set for the project, then that Cost Category will be used. Otherwise, if a Default Cost Category has been set for the related Bookable Resource, then that Cost Category will be used. Otherwise the System level Default Cost Category (as defined in the Configuration Setting) will be used.

This process will begin when a Timesheet is Approved.

Note

Financial Actual data from Timesheets will not be added, updated or deleted from a locked Fiscal Period

Summary of functionality

Plugin executes on Update event of sensei_timesheetstatus field of sensei_timesheet record

All tasks relating to a project/proposal will be rolled into a single new financial transaction

A financial item sharing the bookable resource's name will be created for the first sync of a resource against a project/proposal

  • The set cost category will be used for the financial item

If a Resource > Finance sync item has been previously created in a project/proposal for a bookable resource with the same effective cost category, the timesheet actuals will be synced with the existing financial item.

NOTE: Currently, If resource > finance sync is imported after the timesheet actuals a second identical financial item will be created; one with forecast, one with actuals

If a submitted timesheet period intersects with two fiscal periods, the financial transaction will be split in two - one on the last day of the fiscal period intersecting with the timesheet start date, and one on the timesheet period finish date The transaction will note in the tooltip that it is a split transaction due to intersecting with two fiscal periods

If a submitted timesheet is recalled, the corresponding financial transaction will be deleted

  • If no transactions remain in the parent financial item, it will also be deleted
  • If the financial item is within a fiscal period that has closed since it was first created, it will not be deleted/modified
  • If a split transaction is only half locked, only the open period will be deleted
Edit this page