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When the financial health of your company depends on project profitability, you need timely information on potentially troublesome trends before problems develop. That’s why we have designed a financial accounting application especially for the management of projects. By capturing all project costs and calculating project-to-date totals, - Project Accounting provides all the information you need to evaluate project status, avoid runaway costs, and ensure a profitable revenue stream.

Project Accounting At-A-Glance

Project Status Visibility

  • Provides visibility of estimate-to-complete (ETC)
  • Provides visibility of estimate-at-completion (EAC)

Assigning Activity Types

  • Supports an unlimited number of user-defined activity types
  • Activity types can be freely assigned to tasks

Cost Roll-Up

  • Provides roll-ups of estimated, budgeted, and actual costs and revenues
  • Costs roll up to tasks and activity types
  • Revenues roll up to activity types

General Ledger Integration

  • Project-related journal entries in General Ledger or Project Accounting have visibility in both applications
  • Project-related transactions entered in General Ledger are included in Project Accounting roll-ups
  • All period-end closing is performed in General Ledger
  • Project Accounting uses the fiscal calendar established by General Ledger
  • The calendar affects only budgets, not incurred costs

Revenue Recognition Formulas

  • Incurred costs and revenue recognition
  • Percentage of costs, based on incurred revenues
  • Percentage of revenues, based on incurred costs
  • Percentage calculations for costs and revenues
  • Costs and revenues transferred to residuals
  • No Cost or revenue recognition