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.
Field Type Required What it controls Subsidiary Select Yes The subsidiary this configuration applies to. Single-subsidiary accounts use Parent . Subsidiary ID Text No Internal copy of the subsidiary's NetSuite ID — used by scripts; do not edit manually.
Field Type What it controls Default Billing Type Select Billing type populated by default on new projects (Stage / Progress / Internal / T&M / Drawdown / Inventory / T&M Cost Type / Capital) Default Cost Center Select Default cost centre applied to new projects Margin % Percent Default margin percentage applied to new estimates and contracts Sales Tax Code Select Default tax code used on sales transactions raised from claims Default Project Form Select NetSuite form used when viewing or editing a project Default Customer Form Select NetSuite form used for customers created from Project Financials flows Default Opportunity Form Select NetSuite form used for opportunities Default Proposal Form Select NetSuite form used for proposals Default Sales Order Form Select NetSuite form used for auto-generated sales orders Default Purchase Order Form Select NetSuite form used for purchase orders raised from estimates Default Inventory Adjustment Form Select NetSuite form used for inventory adjustments Default Transfer Order Form Select NetSuite form used for inventory transfer orders Default Stage Invoice Form Select NetSuite invoice form used for Stage-billing claims Default Progress Invoice Form Select NetSuite invoice form used for Progress-billing claims Default Credit Memo Form Select NetSuite form used for claim credit memos Default Time & Materials Contract Form Select NetSuite form used for T&M contracts Default Drawdown Contract Form Select NetSuite form used for Drawdown contracts Create Project Form Select NetSuite form opened by the Create Project Suitelet Default Contact Role Select Default role assigned to contacts created from Project Financials flows Default Drawdown Facility Select Default loan facility for Drawdown projects
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 Reversal Revenue Account Select Counter-account for Revenue reversal entries
Field Type What it controls Asset Clearing Account Select Balance sheet account debited by Capitalisation transactions (capital projects) Default Asset Account Select Default fixed-asset account for capitalised cost on capital projects Default OPEX Account Select Default operating-expense account used when costs route directly to P&L Field Expense Account Select Account for Field PO expenses Inventory Adjustment Account Select Account used for inventory adjustment transactions raised from Project Financials
Field Type What it controls Field PO Purchase Tax Code Select Default purchase tax code on Field POs Tax Agency Select Tax agency vendor used for tax-related transactions Enable CIS and RCT (beta) Checkbox Turns on UK Construction Industry Scheme and Irish Relevant Contracts Tax handling — beta CIS/RCT Item Select The deduction item used by CIS/RCT entries when the feature is enabled Default Jurisdiction Select Default jurisdiction (controls compliance-related defaults — e.g. subcontract templates)
Field Type What it controls Sales Item Main Contract Select NetSuite item used for the headline contract line on customer invoices Sales Item Change Order Select NetSuite item used for variation lines on customer invoices Time & Materials Service Item Select NetSuite item used for T&M-billed lines Time & Materials Margin Item Select NetSuite item used when a margin is added to T&M lines Purchase Item Main Contract Select NetSuite item used for vendor purchase orders raised from estimates Quote Item Select NetSuite item used for quote-generated lines
Field Type What it controls Segment By Cost Category Checkbox When ticked, revenue recognition journals split by cost category instead of a single project line Include Projects in Revenue Recognition Checkbox When ticked, new projects in this subsidiary are picked up by the revrec batch by default Include Projects in Drawdown Checkbox When ticked, new projects are eligible for drawdown billing by default Enable Advanced Forecasting Checkbox Enables the budget-based cost recognition branch — recognises cost against budget rather than against actual Enable Subcontract Management Checkbox Turns on the Subcontracts module for this subsidiary Retainage Integration Enabled Checkbox When ticked, claim retention flows through to the Retainage SuiteApp Email Author Checkbox Sets the From email address on automated emails to the current user rather than the system address Allow Concurrent Claims Checkbox When ticked, more than one claim may be in flight against a contract at the same time Auto Generate Bill Checkbox When ticked, vendor bills are auto-generated from approved Field POs Require Prequalification Checkbox When ticked, vendors must be prequalified before they can be assigned to work FX Rate Mode Select Controls how foreign exchange rates apply to multi-currency projects Approval Mode Select Controls the approval routing model (standard / strict / off) Compliance Model Select Subcontract compliance enforcement model Statutory Response Window Integer Default response window (days) for statutory subcontract notices
Field Type What it controls Create Customer Checkbox When ticked, Create Project will also create a customer if one doesn't exist Create Contact Checkbox When ticked, Create Project will also create a contact Create Opportunity Checkbox When ticked, Create Project will also create an opportunity Create Proposal Checkbox When ticked, Create Project will also create a proposal
Field Type What it controls Import Contingency Checkbox When ticked, contingency values are imported with estimate rows Import Margin Checkbox When ticked, margin values are imported with estimate rows Import All Cost Categories Checkbox When ticked, all cost categories from the spreadsheet are pulled in, not just used ones Import Apply Options Select Controls how Applied flags are imported on estimate lines Estimate CSV Import Folder ID Integer NetSuite folder ID where the estimate import template lives
Field Type What it controls Claim Template Select Default Advanced PDF template for printed claims Proposal Template Select Default Advanced PDF template for proposals Contract Template Select Default Advanced PDF template for contracts Progress Claim Form Select Form used when raising a progress claim Reverse Bill Email Template Select Email template for reverse-bill notifications Bid Invite Email Template Select Email template for vendor bid invitations Bid Reminder Email Template Select Email template for bid reminders Send Bid Reminder Days Before Integer Number of days before bid close date that reminders are sent
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.