PROJECTS - Projects Maintenance
Project descriptive details are maintained by this application e.g. Sponsor, Manager, the contractors and their sub-contractors and charge-out rates. The ITAS accounts used are the WIP (Work-In-Progress) whereby accounting balances and detail drill-downs to the purchase and sales invoices are available. The Invoicing procedures can be invoked directly from PROJECTS or globally from TSHINV.
Time sheet completion by the sub-contractor and authorization by the managers is actioned from TSHEETS (ITAS desktop) or from a specialist web-enabled application.
Project completion can be defined as when all invoices in and out have been completed and cash has been correspondingly transacted. At that time the project can be closed/liquidated whereby the result to the operating company is posted into the PLR and the project is marked accordingly. In order to view the history for perpetuity, the account will not be archived.