Project Accounting
The Norming PSA system enables user to manage the project costing and billing process
with the Project Accounting module. 
The Project Accounting module includes the following

Project Budget Management

1. Project budget can be maintained to control the usage of project resources.
2. Project control options can be defined by category of resources.
3. Provides an easy and flexible budgeting method to set up project budget.
4. Generate a warning message or stop committing more resources once the actual cost    
     reaches the budget.  

Project Costing Process

5. Timesheet can be entered to allocate labor cost across projects. 
6. Expense report can be entered to allocate project-related expenses.
7. Vendor invoice can be entered to allocate subcontractor cost across projects.
8. Cost allocation translaction can be entered to allocate any project-related costs.
9. Project cost can be adjusted by changing pay rate or quantity of project resources.
10.Project cost can be transferred from a project task to others.

Project Billing Process

11. Billing basis and schedule can be specified for projects to automate the project billing process.
12. A billing batch can be generated to bill customers for projects at the specified billing rates of resources.
13. A billing batach can be converted to an A/R invoice batch. 
14. An invoice batch can be entered by user to invoice customers for specific project engagements.
15. Project revenue can be recognized by A/R invoices automatically or manually by a revenue recognition entry. 

Banking Transactions Management

16. Bank accounts can be set up to manage the banking transactions.
17. Cash flow types can be created to keep track of the cash flow.
18. Bank entries can be entered to account for the deposite or withdrawl of cash.
19. Cash can be transferred from one bank account to another.
20. AR receipt and prepayment can be entered against a customer.
21. AP payment and prepayment can be entered against a vendor.
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