abas ERP | Project Cost Accounting

Project Cost Accounting
Cost management is one of the fields involved in project management. The project costs are estimated and planned in the form of a budget as part of project planning. Budget compliance is monitored throughout the project. Project cost accounting is required for budget compliance, as it provides necessary information about costs incurred, cost trends and possible causes of costs incurred in all phases of a project. Project cost accounting in abas ERP can also be used without activating project management to provide further evaluation for accounting. 

Project-Related Value Flow
If project cost accounting is activated, the entire material and value flow can be processed in a project-related way. The project reference information can be transferred from the part of the process that initiated the requirement to the part that fulfills that requirement. This includes all levels of the procurement through to the storage quantity. The connection to valuation ensures the project-related value flow and the posting of the material/production costs transfer the value flow to accounting. 

Project Cost Types
With the use of project cost types, which can be used for P&L as well as for balance sheet accounts, consolidation structures are created in the entries at the intersection of the project, cost type and entry amount. These are the basis for possible project-related evaluations. The project structure, e.g. to map main and sub projects, also enables evaluations on different consolidation levels.