Accounting for Projects Feature

The Accounting for Projects feature provides a flexible method for translating transactions into entries that you can send to PeopleSoft General Ledger. Using accounting rules, the system converts transactions in Project Costing to accounting lines that the Journal Generator Application Engine process (FS_JGEN) later converts into journal entries.

You can use the Accounting for Projects feature to:

• Create project cost and revenue accounting entries from feeder systems for entries that have not been previously accounted for in journals.

• Create accounting entries between different organizational entities when transactions are generated for a project or activity by a resource from a business unit or other organizational entity that differs from the project or activity's general ledger (GL) business unit or organization.

• Specify how costs and revenue are shared among different departments and operating units, such as GL business units.

You must use the Accounting for Projects feature to generate accounting entries for project billing and transaction allocations.