Benefits
This process helps you to do the following:
Create Work Breakdown Structures (WBS) for hierarchical project accounting
Integrate efficient project execution with procurement and financial processes
Monitor project-related purchase requisitions and purchase orders
Receive live insight into project costs by comparing plan and actual costs as well as commitments
Integrate to asset accounting for investment projects
Leverage statistical project for analytical purposes
Key Process Steps Covered
The key process steps covered are as follows:
- Create project
- Predict and capture project costs
- Capture project budget (optional)
- Perform direct activity allocation
- Post general journal entry
- Perform requisitioning and service procurement
- Record time
- Monitor project
Learn how to work with the Project Financial Control scenario.
ExerciseStart Exercise
