You can use SmartStream Projects to manage internal projects that are capital, expense, or both capital and expense projects. You also can use Projects to manage external projects that you perform for clients and that generate revenue.
With Projects you can:
- Eliminate the need to clutter Ledger with ever-changing Project structures and Chart of Account maintenance
- Automatically create Project Work Breakdown Structure (WBS) in Structures for each Project
- Capture project costs from Purchasing (commitments), Payables (expenses), Ledger (journals), and project journals (Projects) which eliminates the need to store in the GL
- Track project budgets, commitments, and costs by month to date (MTD), Year to date (YTD), and Project to date (PTD)
- Define project currency
- Review project balances online
- Define and default accounting distributions for each Component or Component Cost Element
- Process journals in Projects and feed them to GL
- Easily manage Project Balances
- Update Project Status to close project when completed
- Define Assets associated with a component to automate capitalization process
We at Smart Solutions International will welcome feedback or questions you may have about the product.