Using Actuals Module

Overview

The Actuals module in Mastt provides a seamless way to import, match, and reconcile financial data from external systems like SAP with your project payments. This feature eliminates manual data entry, reduces errors, and gives you real-time visibility into your project's financial performance.

Prerequisites

• Access to the Actuals within your Mastt project
• Permission level that allows importing financial data
• Financial data extract from your ERP or finance system (e.g., SAP)

Key Concepts

• Actuals - Financial transactions from your ERP or finance system representing real expenditures on your project
• Reconciliation - The process of matching imported financial transactions with planned payments in Mastt
• PO Number - Purchase Order number used to help match transactions between systems
• WBS Elements/Codes - Work Breakdown Structure identifiers that help categorize and match financial items

Step-by-Step Instructions

1. Importing Actuals from Your Financial System

• Navigate to the Cost Module in your Mastt project
• Select the Actuals section
• Click the Import Spreadsheet button
• Select your financial data file (spreadsheet export from your ERP system) and click Import
• Review the imported data that appears in the platform

2. Reconciling Imported Actuals

• Review the automatically grouped items
  • The system groups actuals with the same PO number together
• Check the suggested matches between actuals and Mastt payments
  • Mastt automatically suggests matches based on PO number, amount, and WBS elements/codes
• Verify each suggested match by reviewing the details
• Click Link to confirm a correct match
• Continue this process for all imported actuals

3. Managing Unmatched Items

• Identify actuals that require investigation
• Select these items to mark them for follow-up
• Add notes if needed to explain what investigation is required
• Place these items in a separate tracking bucket until they can be properly reconciled

4. Reviewing Import History

• Navigate to the Register section
• Review all previously imported transactions
• Check the status of each imported batch
• Filter or search as needed to find specific imports

Key Considerations

1. Purpose of Each View (Reconcile, Needs Attention, Register)

   

   • Reconcile: This view is used to reconcile actuals for a project. It helps users see new actuals that have come in during the month and allows them to match them to payments or contracts.
     
   • Needs Attention: Displays actuals that have been quarantined due to issues like duplicate entries. These require action before they can be moved back to the reconciliation process.
     
   • Register: Shows a log of all actuals imported into a project or program. It provides details about when the actuals were uploaded, who did it, and any associated notes.
     

2. Using Programs vs Projects

   • Projects: Handle actions like reconciling actuals, reviewing quarantined actuals, and adding WBS elements.
   • Programs: Manage actuals across multiple projects, including assigning actuals to projects and reviewing quarantined actuals at the program level.

3. Matching Actuals to Payments

   Matches are suggested based on:
   
   • PO Number: Must match a contract within the project.
   • Amount: Must match the payment amount. If both fields match is found, the system suggests it and displays it to the user.
   If a match is suggested, it will appear like the below:
   

4. Understanding the Detail Form

   • Case 1: If a matching contract and payment are found, the user can click on the matching contract or payment to select it.
     
     
   • Case 2: If a matching contract and payment are found, the user can click on the matching contract or payment to select it.
     
     

5. Potential Duplicate Workflow

   On uploading actuals, if duplicates are detected, a modal will alert the user. The actuals go to the "Needs Attention" view for resolution. Users can either un-quarantine or resolve duplicates.

   

6. Assigning Actuals with WBS Codes

   Actuals uploaded at the program level are automatically associated with projects based on matching WBS elements. Alternatively, users can manually assign actuals to specific projects.

   

7. Why Actuals Are Grouped

   Actuals with the same PO number and posting month are grouped together for easier reconciliation. Grouping helps when there are related purchases, like flights and hotel bookings.

8. Importing data

   Actuals can be imported from most spreadsheet file types (CSV, XLS, XLSX). A modal displays how many actuals were imported and how many were flagged as duplicates.

9. Manually Reconcile Multiple Line Items

   When you navigate to the Register tab in the Actuals page, you can now group multiple ROMAN line items together to be reconciled. Follow these steps:

   1. Click the Register tab at the top of the Actuals page.
   2. Select multiple line items by clicking the checkboxes next to them.
   3. Click the Bulk Reconcile button to open the reconciliation form.
   
   

   Once you click Bulk Reconcile, it will open the detailed reconciliation form, where you can find the corresponding contract and payment.

   

10. Warning Dialog in Detailed Reconciliation Form

    A warning dialog is available to be turned on. This will confirm with the user that they have checked their work before confirming the reconcile action. This is confirmation dialog off by default.