Entering Opening Stored Material Balances

To enter opening stored material balances:

1. Open Project and Job Costing > PJC Transactions > Opening Balances.

2. Click the New button beside the Document Number field.
3. In the Status field, accept New, and then enter information in the other fields above the table.
4. Click the Detail button.

   The Detail Opening Balance screen appears.

5. In the Opening Type field, select Stored.
6. Enter the following general information for the detail you are entering:
   • Contract / Project
   • Category
   • Resource

     Note: If you are entering stored balances for a basic project, you do not enter anything in this field.

   • Select the Use AIA Report option to keep stored balances for the AIA report.

7. Enter opening balances on the entry table, as follows:

   • Quantity. Enter the opening quantity of material stored for this category or resource category.

     If you use Inventory Control and that program allows fractional quantities, you can enter a stored quantity using up to four decimal places. If you do not Allow Fractional Quantities in Inventory Control, you must enter a whole number in this field.

     If you do not use Inventory Control, you can enter a stored quantity using up to five decimal places.

   • Extended Cost. In this field, enter the extended cost for the opening quantity of stored material for the specified category or resource category.

     If you use multicurrency, enter the amount in your functional currency.

   • Overhead Amount. In this field, enter the amount of overhead costs associated with the stored quantity you entered.

     If you use multicurrency, enter the amount in your functional currency.

   • Total Cost. Project and Job Costing calculates and displays the stored total cost for the category or resource category, in your functional currency. You cannot change the amount.

     The following fields appear on the table only if you selected the option Use AIA Report. (If you use multicurrency, you enter the amounts in the customer currency.)

   • Total Revenue. Enter the amount of any revenue previously reported.
   • Previous Work Completed. Enter the amount from columns D and E on the last AIA Report you generated for this project. The amount you enter in this field appears in column D when you next generate the AIA report.
   • Previous Certificates for Payment. Enter the amount reported on Line 7 of the previous AIA G702 report.
8. Click the Add button to add the detail.
9. If you want to enter additional balances, click the New button beside the Line Number field to start a new detail.
10. Click Close to return to the Opening Balances screen.
11. Click Add (or Save) to add the opening balance document.

    You can use the Opening Balances screen to recall the document and modify the opening balances, until you post the document.

12. Click Post when you are ready to post the document.