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The ]po[ Finance Module implements a financial system specifically designed for profit and loss calculation of projects in real-time with specific emphasis on [|controlling] processes and easy reporting using the ]po[ data-warehouse and other analytical functions.
The financial modules defines a number of different types of financial objects, that are ordered in a hierarchy:
Every financial item can be associated with four other objects:
The following figure explains the association of financial documents with projects and departments/cost centers:
For PSA (Professional Services Automation, i.e. small or medium independent service companies) the ]po[ financial system is designed to work together with an accounting back-end system. The accounting system can be the SAP FI system of a large enterprise or a small country-specific accounting package in the case of a smaller organization. I]project-open[ is normally used for the creation of invoices to customers and bills to providers
]project-open[
Based on this information, ]po[ will:
The Accounting Back-End
In a corporate setting, the accounting integration usually works the other way round. In these settings, ]project-open[ usually manages the finance of a project-oriented department, while the rest of the corporation uses SAP FI or other corporate accounting solutions in order to handle invoicing, purchasing and other financial functions.
In these environments ]po[ will:
This way, project managers gain access to financial information that were difficult to access previously.
]project-open[ represents in some settings the finance of a group of companies. For instance a software company might have a central office producing software and several sales and support offices in different countries with staff servicing local customers.
In this case ]po[ will represent an organization with multiple accounting systems. Please see the our Multi-Company Finance HowTo for details on how to manages these cases.
The financial functionality of ]project-open[ is implemented in the following packages:
Related Tutorials
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