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Stay on top of project profitability with timely and detailed cost and revenue information
When the financial health of your company depends on project profitability, you need timely information on potentially troublesome trends before they develop into problems. That is why we have designed a financial accounting application especially for the management of projects. glovia G2 Project Accounting not only captures all project costs and calculates project-to-date totals, it also provides the information you need to evaluate project status, avoid runaway costs and ensure a profitable revenue stream.
Track Project Financial Performance
Project Accounting gives you the control and visibility you need to measure project performance accurately. The solution gives you an easy ability to define the number and types of budgets required based on your business needs and project types. All budgets are time-phased based on task start and end dates to help you evaluate whether they stay on track.
In addition to actual costs based on fiscal period and year, glovia G2 can also calculate project-to-date totals in several ways depending on the needs of your business. This enables an easy comparison of your estimates and budget projections with incurred costs and revenue.
Complete Financial Picture
To provide a complete financial picture, all project costs are posted to glovia G2 Financial Management.
Cost and Revenue Roll-Up
Project Accounting supplies both cost and revenue roll-ups for analyzing your estimates, budgets and incurred costs. You can examine costs and revenues by task and activity type, or drill down to the transaction level for detailed cost information.
Flexible Cost and Revenue Recognition
You can easily adapt the solution to your business with flexible cost and revenue recognition.
User Defined Project Budgets
- For financial values and labor hours
Unlimited versions, for example:
- Original budget
- Revised budget
- Target budget
- Estimate-to-complete budget
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
- Freely assign act types to tasks
Revenue Recognition Formulas
- Incurred costs and revenue recognition
- Percentage of costs, based on incurred revenues
- Percentage of revenues, based on incurred costs
- User defined calculations for costs and revenues
- Costs and revenues transferred to residuals
- No cost or revenue recognition
General Ledger Integration
- Project related journal entries in glovia G2 General Ledger or glovia G2 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
- Provides roll-ups of estimated, budgeted, and actual costs and revenues
- Costs roll-up to tasks and activity types
- Revenues roll-up to tasks and activity types