Configure financials for Project Workspace

Customize financials view, planning attributes, and activate scheduled jobs to work on the financial planning for your projects.

Before you begin

Role required: admin

Procedure

1. Configure the attributes to generate labor costs in financials based on the resource assignments on the work items.

   For more information, see Using the Planning attributes and Create or edit planning attributes.

2. Generate default mapping configurations to create table maps.

   For more information, see Generate default mapping configurations.

3. Enable the budget allocation for projects.

   For more information, see Enable financial budget allocation for projects in Project Workspace.

4. Define the budget allocation attribute to allocate budget by cost type or expense type.

   For more information, see Configure budget attribute at instance-level.

5. Enable the expense type attribute for resource assignments to capture relevant expenses for the work.

   For more information, see Enable expense type on resource assignments.

6. Create new widgets to view the rolled up financial data at planning item level.

   For more information, see Configure a widget and associate it with project.

7. Customize the left pane in the financials screen to match the requirements of your organization.

   For more information, see Customize the left pane view for financials.

8. Customize the Create cost plan form fields to match the requirements of your organization.

   For more information, see Customise cost plan form.

9. Customize the default expense types to manage cost plans for your projects and demands.

   For more information, see Change the default expense type for projects.

10. Activate and define scheduled job to create financial baselines for your planning items.

    For more information, see Activate a scheduled job to create financial baselines for your projects.

11. Activate and define a scheduled job to generate labor costs for your projects based on the attribute-based resource assignments.

    For more information, see Activate a scheduled job to generate labor costs for your projects.

12. Enable monetary benefit plans for projects
    Enable the benefit plans property to create and manage benefit plans for planning items.

13. Enable financial budget allocation for projects in Project Workspace
    Enable allocation property after migrating to Next Experience to work on budget allocation for your projects using Project Workspace.
14. Enable expense type on resource assignments
    Resource assignments have the same expense type as the project or demand for which they’re created. Enabling expense type on resource assignments helps you to accurately expense different type of expenses for your work.
15. Configure a widget and associate it with project
    Enable and associate a widget to view financial summary of your projects at high-level.
16. Customize the left pane view for financials
    Customize the left pane for financials to view custom field information.
17. Customise cost plan form
    Manage the fields required on the new cost plan form according to your organization needs.
18. Change the default expense type for your projects
    Configure the default expense type to create or edit cost plans for your projects.
19. Create a custom prefix for baseline
    Modify the prefix to customize the name of the baselines for your projects.
20. Activate a scheduled job to migrate budget of your projects
    Activate the Migrate budget for active demands and projects scheduled job to migrate budget of active projects from Classic UI to Next Experience.

Parent Topic:Configuring Project Workspace