TABLE OF CONTENTS

• Financial Accounts Overview
• Overhead FA
  • Project OH FAs
• Direct Cost FA
• Non Work Financial Account

Financial Accounts Overview

Financial Accounts are the key to FCX Job Costing. They determine where different costs and revenue route and show up in Dashboards and financial reporting.
There are many places where Financial Accounts can be specified. The FA fields on the Employee's TK Configuration card are used in TK.

FAs can also be fed to TK from WO Types, and since every Time Entry in FCX must be allocated to a WO, TK records often take the FA from the WO Type associated with them. Where an FA is specified on BOTH the Employee's TK Configuration card and the WO Type card, WO Type FA takes precedence.

In some cases, it is desirable for Employees of different types to work on the same WO Type, but charge their time to different FAs. For example, an “All-Hands Meeting” might charge to Regional Overhead for field crews, but Corporate OH for office personnel. For this reason, a Default FA should usually be specified on the Employee TK Configuration card to apply when they work against a WO without an assigned FA.

The FA on the TK Configuration
card applies whenever their time is charged to a WO Type which does not have an assigned FA. An FA on a WO Type always overrides an FA on an TK Configuration card.

Open the priority scheme of Financial Accounts in Financial Distribution.

You might notice there are three Default FA fields on the Employee's TK Configuration card. These each serve a different purpose.

Overhead FA

The Overhead FA field is the default FA that applies to Time Entries charged to an Overhead WO Type without an assigned FA.

Overhead WOs are WO Types under the “Overhead” Project/Line Of Business, which contribute to your company’s Overhead financial layers for Job Costing. They are typically assigned for non-Client activities, such as Warehouse work, vehicle maintenance, etc.

Overhead WOs often do not have an assigned FA so that different types of Employees can charge their time to these WOs while still routing their cost to the correct part of the company, I.E., Corporate vs Field. Therefore, a default OH FA should be specified on the Employee's TK Configuration card to apply in this situation.

Below is an example of typical Overhead FAs you can choose from. These can vary from company to company:

Project OH FAs

It is important mention here “Project Overhead” BPs.
Project OH BPs may be Client-Related, but treated as Overhead because they are not Site-Specific. These BPs are usually used when you need to charge time to a contract or relationship, but not a specific build. These BPs are usually only used by PMs.
Keep in mind that, in FCX, Project OH WOs still use OH FAs. If an FA is not specified on a Project OH WO, FCX TK will look for an FA in the Employee's TK Configuration card OH FA field.
If you have questions about Financial Accounts, Project OH BPs, “Overhead Layers” and Cost Allocation, in general, reach out to [email protected].

Direct Cost FA

Direct Cost FAs apply to any labor which is not Overhead, which contribute to your company’s billable service and therefore, its Service Revenue.

The Default Direct Cost FA on the Employee card is usually only used for PMs and CMs working against BPs. This is because you may want their time to route to different FAs (“Direct Cost PM” or “Direct Cost CM,” respectively) when they work against the same general WO.

Why have PMs and CMs work against the same WO? This involves so-called “Shadow Dispatches” which let you make a WO perpetually available to an Employee. The catch is you should only have one such WO per BP.

Assign a Direct Cost FA on the Employee's TK Configuration card to apply when they work against a Direct Cost WO which is not assigned an FA. Below are some examples of these kind of FAs:

Non Work Financial Account

It's the employee-specific non-work FA. Add a Financial Account to record all non-work hours. This account is used when hours are allocated to a non-work type of Work Order and no Financial Account is specified in that WO type.