| Project AccountingThe Project Accounting module is used to create and maintain
transactions for costs, commitments, revenues, overheads, extensions, financial
results and so on. 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. 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.
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