We will focus in this section on several common business flows, as a way of illustrating how project accounting works in action. Project accounting, of course, supports many more business flows than we will cover here. But for this section, we will concentrate on the following examples:
Posting time & expense invoices
Receiving materials
Shipping sales orders
For each example, we will track an original document as it is posted to the general ledger. We will also look at the underlying account assignments. Remember, it's the combination of account assignments and the project link which make it possible to build the virtual G/L accounts at the foundation of project accounting.