Incomes and expenditures can be booked to projects with ease via book entries.
A book entry can be used to link an amount of money with a project, an employee, a customer, an account or a cost item. Various reports then allow detailed examination of how much income or expenditure has been booked on which account or project and in what period of time.
This quickly gives you an overview of the current situation of your projects. Using custom interfaces it's also possible to import book entries into the system which were carried out by your tax advisor, thereby providing up-to-date information on the current financial situation without a great deal of effort.
How is project success calculated
There is a range of ways in which the income and expenditure of a project may be composed. The configurations allow you to select whether book entries should be taken into consideration for project success or not.
Income or expense
It is possible to differentiate between four types of account on which book entries are made: the income account, expense account, liabilities account and assets account. Only the income and expense accounts affect the success of a project.
Plan and actual data
You can enter book entries as plan or actual data. These entry types enable you to make a quick target/actual comparison.
No substitute for your tax advisor
The book entries in projectfacts are not intended as a financial accounting program, but merely serve as a basic controlling tool for monitoring your projects.