IFAS: Job/Project Accounting Ledger

The Job/Project Accounting Ledger is a separate, yet integrated function of the General Ledger module. General Ledger and Job/Project Accounting Ledger transactions may be keyed simultaneously; thus, the two ledgers are fully integrated, never out of balance, and transactions need only be entered once. With a separate client-defined General Ledger and Job/Project Accounting Ledger account structure, the required organizational hierarchy for both the General Ledger and Job/Project Accounting Ledger can be effectively modeled. Also, Job/Project can cross all General Ledger structural boundaries such as fund and function.

Features

• Support multiple fiscal year information. Designate in either the General Ledger or Job/Project Accounting Ledger the number of years of transaction history and the number of years of account balance and budget history desired.
• Prepare budgets on an annual, quarterly, and/or monthly basis.
• Create budgets at a very specific level (line item) or at a summary level (Budget Category Level).
• Use the Budget Scenarios Module to define and apply various “what if” scenarios to future and current year budgets.
• Statistical budgeting is fully supported.
• Access all information interactively using the Job/Project Ledger database INQUIRY facility.
• This accessed information may be extracted using multiple selection criteria values.
• Retrievals may show project descriptive information, balance figures, budget figures, and/or transactions which originated from other installed modules (e.g. Accounts Payable, Encumbrance, Accounts Receivable) in a given date range.
• Create a set of journal entries to distribute after all error checking and balancing has occurred using the General Journal entries (journal vouchers) module.
• All transaction entries require the General Ledger account; the Job/Project account is optional.
• Make updates to your chart of accounts interactively or from a spreadsheet.
• Define entries such as materials handling charges, indirect labor costs, or construction overhead fees using the month-end automatic posting module.
• Post fail-safe audit trail of all transactions to the General Ledger and Job Ledger, with the ability to store two reference codes and two dates with each transaction posted.
• Fully flexible chart of accounts is defined independently from the General Ledger module.
• Job/Project Ledger is integrated with the General Ledger at the transaction level such that accounts in both modules remain in balance at all times.
• All closing entries may be generated automatically.
• You may specify a subset of the chart of accounts to be closed; thus, specific job or project activity may be left open for its duration.
• All management reports available in the General Ledger can be used for the Job/Project Accounting Ledger.