The Project Financials Configuration record drives behaviour across estimating, contracts, billing and revenue recognition. One Configuration record per subsidiary — single-subsidiary accounts have one record assigned to Parent.
To create or edit: FullClarity → Project Financials → Configuration.
For first-time setup guidance, see Install & configure. This page is the comprehensive field reference.
These accounts feed the revenue recognition GL plug-in and the recognition journal. Set the balance-sheet account into each Deferred slot; set the P&L account into each Revenue / Cost of Sale slot.
Field
Type
What it controls
WIP Account
Select
Work-in-progress account used when project cost is held on the balance sheet before recognition
Deferred Cost Account
Select
Balance sheet account where vendor-bill expenses are deferred until covered by a recognition or capitalisation
Cost of Sale Account
Select
P&L account where recognised cost lands
Deferred Revenue Account
Select
Balance sheet account where customer-invoice income is deferred until recognised
Revenue Account
Select
P&L account where recognised revenue lands
Reversal WIP Account
Select
Counter-account for WIP reversal entries
Reversal Deferred Cost Account
Select
Counter-account for Deferred Cost reversal entries
Reversal Cost of Sale Account
Select
Counter-account for Cost of Sale reversal entries
Reversal Deferred Revenue Account
Select
Counter-account for Deferred Revenue reversal entries
These subsidiary-level defaults pre-fill each new vendor bid request and can be overridden per request. For how they behave in the bid workflow, see Request vendor bids.
Field
Type
What it controls
Bid Invite Email Template
Select
Email template for vendor bid invitations. Ships with a built-in default (FC Default Bid Email Template); most organisations replace it with their own. Defaults onto each new bid request (as its own Bid Invite Email Template), where it can be overridden for that individual request.
Bid Reminder Email Template
Select
Email template for bid reminders. No built-in default yet — until one is set, reminders are sent without a template. Defaults onto each new bid request (as its own Bid Reminder Email Template), where it can be overridden for that individual request.
Send Bid Reminder Days Before
Integer
Default reminder lead time (built-in default 15). Pre-fills each new bid request's Remind Days Before Due, which can be changed per request.
Acceptance mode
Select
How accepted bids populate the estimate. Accepted (default): accepting a whole bid writes all its lines to the estimate. Preferred: the PM selects specific lines to prefer, and only those lines appear on the estimate. Pre-fills each new bid request; overridable per request.
Add estimate lines as Applied
Checkbox
When ticked, lines written to the estimate by Accept or Prefer are immediately marked Applied (they count toward estimate totals). When unticked (default), lines land unapplied — they appear on the estimate for comparison but don't change totals until you apply them manually. Pre-fills each new bid request; overridable per request.
A Configuration record is required for every subsidiary that runs Project Financials. If your project's subsidiary doesn't have a Configuration record, you'll see an error when saving the project — create the Configuration record first.
Some Configuration values can be overridden at the project level (e.g. deferred accounts). Where both are set, the project value wins.