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Uses of Cost Accounts

6 replies [Last post]
Tue, 2009-10-27 06:18
Anbin Ponnith
User offline. Last seen 8 years 23 weeks ago. Offline
Joined: 8 Jun 2009
Posts: 158
Groups: Civil Engineering
Dear All ,

Please mention what is the use if we create cost account.

What will its application in case of report generation.

Also what is the procedure for creating a good cost account.


With Thanks & Regards,


Anbin Ponnith
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Replies

Sat, 2010-12-11 07:49
#1
Tanveer Ahmad Niazi
User offline. Last seen 6 years 22 weeks ago. Offline
Joined: 15 Dec 2005
Posts: 151
Groups: GPC Qatar

Hi,

I read your reply to Anbin Ponnithon cost accounts on Oct 10, 2009. It was very use full for me, thnax for that. I am new in planning and too week in report making and cost accounts. Please refer me to some web page or book or describe it in here if possible.

What I am doing is to create a resource “C” and assign it the value of my B.O.Q. but I got the idea from your above said reply is to create resources as per the B.O.Q. i.e. Div 01, Div 02, … or Item 01, 02, … Or Item A, B, … And assign the cost to the same.

You can contact me on my email also tanveeraniazi@yahoo.com

Thanx

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Wed, 2009-12-02 03:35
#2
Barry Fullarton
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Joined: 27 Aug 2008
Posts: 101
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Raviraj Bhedase

How do you manage to align with your Bill Of Qunaitities ??

also are you abl;e to Align your Bill in P6 if so How do you manage to do this

regards
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Thu, 2009-11-19 02:49
#3
Anbin Ponnith
User offline. Last seen 8 years 23 weeks ago. Offline
Joined: 8 Jun 2009
Posts: 158
Groups: Civil Engineering
Dear All,

Thanks for the reply...


regards,

Anbin Ponnith
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Thu, 2009-10-29 01:23
#4
A D
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Joined: 20 May 2007
Posts: 1027
Groups: Accreditation Editors
My cost accounts are aligned with the BOQ and so, it is easy to prepare the cost reports directly from P3 and u can compare that with ur updated BOQ prepared by QS team.
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Tue, 2009-10-27 07:05
#5
Johnny Pain
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Joined: 23 Sep 2005
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Groups: Petro-Chem / Oil & Gas
hi

I personnaly use cost accounts to track hours for several resources.
you can track the number of hours for every single resource in your project, but if you assign costs accounts to tasks that have different resources, you can create a report that’ll give you the number of hours that are daily needed/done for each cost account (resource groups).
these reports are in tools/tabular reports/resource/tabular.

but there are, I guess, many other usages for these.
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Tue, 2009-11-17 16:20
#6
Rafael Davila
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Joined: 1 Mar 2004
Posts: 5233
Groups: Spider Project Team
Cost accounts might be the way Primavera communicates with other Accounting and Job Costing software.

You might mimic cost accounts with the use of resources, one resource per cost account, this I do with SureTrak but it cannot communicate with accounting software such as Timberline.

It also add some efficiency, ease of use and avoid clutter at your resource drop down list. It even add some versatility for reporting. For example you can create a resource for Labor, Equipment, Materials, Sucontracts and Other which in combination with cost codes can save you a lot of database fields. In this way you can report for Labor, Equipment, Material, Subcontracts and other for each cost code without the need to create a cost code for each combination.
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