Project Accounting

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, glovia.com - 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