System Narrative

The TRAK 5 Project Accounting system provides the capabilities needed to assist companies in managing their capital projects.

Project Accounting system tracks expenditures made during the span of a project. Upon completion of the project the system translates the capital expenditures into capital assets.

The system is designed to meet the diverse requirements of many industries and to respond quickly to the changing needs of companies. Emphasis has been placed on making it easy to implement, add new companies, add and change reports and make organizational changes.

System Features

The TRAK 5 Project Accounting system provides the capabilities needed to assist companies in managing their projects. The Project Accounting system tracks the progress of projects to ensure that budgeted funds are being spent properly. Upon completion of the project, the system can translate the capital expenditures into capital assets.

Automated System Inputs

The TRAK 5 Accounts Payable system can capture the detail commitments and expenditures and automatically generate inputs.

Automated Asset Set Up

The system can automatically translate the capital detail expenditures into transactions that will set up or change capital assets in the TRAK 5 Fixed Asset system.

Commitment Control Module

The system can produce a Project Control file that the TRAK 5 Accounts Payable system can use to monitor commitments and expenditures against the amounts authorized and/or budgeted for the project.

Stand Alone System

The system has been designed to be used as an individual system or with the TRAK 5 Accounts Payable, Fixed Asset and/or General Ledger systems.

Batch and Online

The system has been designed specifically to work efficiently in either batch or online environment.

Accounting and Control Reports

A comprehensive set of reports is offered to maintain a complete audit trail of all data in the system and to monitor projects.

General System Report Writer

A powerful user-oriented report writer enables users to create their own reports.

Entry and Correction

The system has been designed to minimize the amount of work required to enter, correct and change information in the system. Included are extensive input defaults with user-assigned values, a single input port and an error recycle file.

Automated General Ledger Interface

The system can automatically capture expenditure-related General Ledger activity and generate transactions to post journal entries in the TRAK 5 General Ledger system.

Recalculation of Roll-Up Totals

The system provides the ability to recalculate the roll-up counts and totals at the company, project and work unit levels from the detail commitment and expenditure records residing on the current Project Accounting Master file.

Mass Maintenance

The system provides the ability to change a group of Project Accounting Master records with a single Mass Maintenance screen or a single set of Mass Maintenance transactions.

Capital/Expense Breakout

The system allows the Project Authorization amount and the Work Unit Budget amounts to be entered as a total amount or as a Capital or Expense amount. The system will track all Commitment and Expenditure amounts against Total and Capital/Expense Amounts for Authorizations, Commitments, Expenditures and Budget Amounts.