Project Tagging Nominal Adjustments

Project Tagging allows adjustments. However to make this feature really useful could it be linked to whether it’s an income or expense adjustment?

At the moment you cannot distinguish if the adjustment is a sales or expense adjustment. When you create the P&L report, it just shows as an adjustment at the bottom of the report.

The Project Adjustments in the P&L report seems to be for the entire period rather than each financial period. You may select a finiacial period in the date filters but the total of all adjustments is shown?Ideally only adjustments which have happened in the finiacial period should be shown?

Hi @1andy_mc

I just want to be sure I’ve understood correctly.

At the moment, I believe, the adjustments are added together and shown as one line at the bottom of the report. What you’re suggesting is, rather than having one line, specifically state whether it’s a Sales Income, Cost of Goods or Overhead adjustment so they show up in the related part of the P&L report.

Is that correct?

I will also refer the date issue to a developer as this should only use the selected dates.

Yes that is quite correct.

If you can show the calculated adjustments for sales and the calculated adjustment for purchases separately that would be fantastic.

A post was split to a new topic: Project summary by financial year

I have searched through other threads and can’t find an obvious answer, but please feel free to direct me elsewhere if I just haven’t found it!

I understand when using split tagging, you can’t split across multiple projects, only nominal codes. As I understand it, the way to achieve this is to tag a transaction with both project tags, and then use a Project Adjustment to adjust the amount down to the correct figure. I’ve done this and it seems to work fine, but in the P&L report the adjustment is just listed as a summary at the bottom, not linked to the actual expense I wanted to adjust.

I would find it very useful to be able to allocate an adjustment to either a specific transaction or a nominal code, so that it adjusts that figure in the project P&L report.

As an example:
I rent out a number of properties. So I can track the profitability of each property, I have a project tag for each, which I allocate to any invoices and purchases for that property.

I paid for gardening for two different rented properties on one invoice.

I therefore tagged the transaction under a ‘Maintenance’ nominal code, and tagged it with both project tags for the two properties.

I then added an adjustment to each property to reduce the amount of the expense. However, when I look in my P&L report for each property/project now, the figures shown for ‘Maintenance’ are unrealistically high, as the adjustment hasn’t been applied to specifically that nominal code. This makes it difficult to properly assess and keep track of your overheads on each project, and see where the money has been spent.

Does this facility exist somewhere and I’ve missed it? If not, would it be possible to add?

Hi @Claire_F ,

This isn’t possible at the moment but we will leave this feature request open and monitor interest