Hi everyone, during our month-end financial process, some labor expenses originally based on Portfolios timesheet data for a specific project/cost center/expense type (i.e., capex/opex) are reclassed in our financial systems, which ultimately show up when loading actual labor the following month as a credit to one project/cc/expense type and cost to another. This activity impacts the financials associated with impacted work rercords but is not traced back to the original hours logged in timesheets. Potential impact here is when we’re reviewing R&D tax credits based on hours logged to specific tasks with associated attributes for which the credit applies, the reclassed labor financials don’t align with the originally submitted timesheet hours.
Does anyone else find themselves in this situation, and is there a best practice for realigning hours to match financial reclassification process? Additional note is that we lock timesheet periods to ensure timesheet data isn’t changed after month end processing, but that doesn’t stop the financials from being impacted by labor reclassification processes resulting in the misalignment when comparing historical timesheet data with labor cost.
Thanks!