Transaction Processing Features and Functions

• Distribution to unlimited project and cost codes accounts


• A running total shows the total debits and credits as they are being entered


• Posting of financial transactions to open periods


• Posting of budget, commitment, or statistical data to any open or future period


• Automatic creation of general ledger transactions with appropriate debit or credit offsets


• An accounting date or effective date, indicating which cost ledger accounting period is to be posted


• E-mail and workflow routing and tracking of unposted transactions and related images for approval


• Provide for recording and tracking of contingent liabilities by project


• Provide for recording and tracking of preliminary notices by project and contract


• Support a posting interface which permits simultaneous updates of the general and cost ledgers when financial transactions are posted to either ledger.


• Validates charges against the project master file or budget categories on whether the charges are to open and valid projects


• Validates charges against the project master file or budget categories on whether the accounts charged are valid for that project


• Validates charges against the project master file or budget categories based on whether the amounts and prior costs (combined) do not exceed established adjusted budgets


• Makes overhead or indirect cost allocations to projects, including the use of multiple, flexible overhead rates


• Creates user-defined reimbursement categories


• Assigns overhead costs to specific cost classifications


• Accumulates, tracks, and report on costs by user-defined organization level


• Accumulates, tracks, and reports on costs associated with a particular activity or type of service


• Provides online access to actual and budgeted cost information for supplies and services


• Provides online access to actual and budgeted cost information for salaries and employee benefits


• Interfaces with timekeeping systems or permits manual entry of such costs for each project


• Interfaces with other payroll information such as vacation, sick leave, or other benefits or permits manual entry of such costs for each project


• Interfaces with accounts payable or permits manual entry of such costs for each project


• Interfaces with other allocated costs or permits manual entry of such costs for each project


• Interfaces with other user defined fields or permits manual entry of such costs for each project


• Roll-over of purchase orders


• Close a project on a user-specified date


• Specifies a close-out date for projects


• Prevents charges (or other changes) from being allocated to a closed project or beyond the specified close-out date unless approved


• Leaves a project open for a certain period for open commitments only


• Invoices and related vendor-provided documentation can be imaged and linked to related payment detail