Summary
In this chapter, we learned how to approve time and expenses through the system. We processed approvals into actuals that affect the project cost and billing.
We outlined how team members can recall their timecard lines to enhance the processing of their time handling. This ensures the highest quality of transactions. We also outlined how timecards and expenses can be corrected and have their respective journal entries processed through the system. Finally, we outlined how the journal entry function provides a depth of project charges against a project's net profit.
As a result, at this point, you should be fully prepared to manage any exceptions that are encountered. Furthermore, you should now be ready for the next chapter.
As we enter into Chapter 11, Project Accounting and Operations, we will bring this overall business process flow to a conclusion by discussing and outlining project accounting and operational factors.
