Chart of Accounts
Budgets, actual and forecast, fees and costs, are managed through UniPhi according to the chart of accounts (CoA). The CoA will typically match your company accounting system structure, however, if you are managing projects on behalf of clients, then the CoA may include both your company accounts and a project CoA for project budgeting. Hence, it is possible to develop multiple CoA’s.
There is a tight integration between cost and revenue modules, and the contracts module. For example, once a budget is established in the costs system, cost contracts are apportioned to that budget, allowing the project manager to check committed versus budget, and forecast to complete costs.
The chart of accounts (or charts, if you have multiple) allows for multiple levels of detail to be defined as a hierarchy structure. There are two ways to set up cost codes in UniPhi: a file upload, or a user interface for data entry.
Chart of Account Types
There are three types of chart of accounts:
• Project costs - Use project cost if you are managing project costs on behalf of a client. You or your organisation are NOT actually paying these costs
• Internal revenue - Use internal revenue if you are tracking fees received for goods or services. You or your organisation are receiving money for these items
• Internal costs - Use if you are tracking internal company or project costs. You or your organisation ARE paying these costs.
Project costs charts are used for project cost reports. These charts can be linked to internal cost charts if the deployment is for internal project management. The cost elements set up in this chart determine how budget information will be reported on a project.
Internal revenue and internal cost charts are for tracking either project profitability from a professional services practice management perspective, or cost benefit analysis from an internal project business case perspective. Default reports in UniPhi use these two chart types to define revenue and expense, as well as benefits and costs. Example reports include portfolio profitability, project profitability, free cash flow, and cost benefit analysis reports.
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