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How to Financially Close a Project

  • 1.  How to Financially Close a Project

    Posted Mar 12, 2015 08:01 AM

    Contributed by Sarmistha Purkayastha, Senior Information Services Engineer, CA Technologies

    Close a project financially to stop processing financial transactions against it. Financially closing a project ensures that actual costs from posted transactions do not show up on cost plans, reports, and portfolios associated with the project. Also, additional funds are not assigned to a project that has been closed financially.

    To financially close a project, complete the following steps:

    • Disable the project financially.
    • Verify that the project has no remaining ETC.
    • Close the project for time tracking.
    • Deactivate the project.

    Disable the Project Financially

    Disable the project so it cannot be processed financially. Before financially disabling a project, verify that all outstanding work-in-process (WIP) transactions and all WIP adjustments for the project are posted.


    Follow these steps:

    1. Click Home, and from Portfolio Management, select Projects.
    2. Open the project.
    3. Open the Properties menu, and from Properties, click Settings.
    4. Set the Financial Status field to Closed so no new transactions can accumulate on the project.
    5. Save the changes.

    Verify that the Project has no ETC

    Verify that the project has no ETC or remaining work associated with it.


    Follow these steps:

    1. Open the Properties menu for the project and click Estimating.
    2. Verify that the Current ETC field displays zero (0.00).

    Close the Project for Time Tracking

    To prevent team members from making timesheet entries for this project, disable the Open for Time Entry setting.


    Follow these steps:

    1. Open the Properties menu for the project and click Settings.
    2. Clear the Open for Time Entry field and save.

    Deactivate the Project

    Active projects appear by default on the projects list page. Deactivate a project to remove it from the list of active projects. A deactivated project can be reactivated again or it can be marked for deletion.


    Follow these steps:

    1. Open the Properties menu for the project and click Settings.
    2. Clear the Active field for the project and save.

    View this Article on the CA Clarity PPM Cookbook on Flipboard