| # Project Accounting The Project Accounting module is used to create and maintain transactions for costs, commitments, revenues, overheads, extensions, financial results and so on. Costs You can perform the cost corrections using the historical rates defined for the project. Infor LN allows you to record the transactions in multiple functional currencies (local and reporting). During the global approving, you can also include the cost forecast when posting transaction entries to Financials. You can define the Start percentage, End percentage, and Milestone percentage to calculate the Earned Value of the project. You can utilize items of the type Cost and Service in the Estimate Lines, Element Budget, Activity Budget, and Purchase-Budget Detail line.. Revenue Transactions When a project is not linked to a contract, Infor LN uses the project information (such as cost rate and sales rate) but not the data from the contract (rates, invoice type, and so on). You can also create revenue transactions manually. Financial result You can generate interim results for contracts or projects. Infor LN allows you to view, modify, and process the calculated revenue recognition and view the totals of the revenue, cost, and balance for the selected interim result. You can also print the expected profit/loss report by contract or project. MAUH LN considers the number of labor hours (instead of quantity), for the cost component of the cost type Labor, when calculating the cost and revenues for the project. Workflow Status The status that is applicable for the business object requires authorization using ION Workflow. You can approve the cost entries using the ION based workflow. |