Perform Financial Assessments

Explanation

Use this activity to do financial assessments on the project accruals. The Finance Controller can review the internal assessment values entered by the Quantity Surveyor and enter the new values under financial assessments. If you are assessing miscellaneous project accruals, the financial assessment values will be taken as the project accrual amount. If you are assessing the sub contract project accruals, the accrual amount will be calculated by deducting the base value from the financial assessment value. In instances when there are no financial assessments done, the accrual amount will be based on the internal assessments.

Prerequisites

  • A Project Accrual in Submitted status must exist.

System Effects

  • Financial Assessment values in transaction currency and accounting currency will be saved.
  • Accrual Amounts will be based on the Financial Assessment values.
  • Total Accrual Amount will be displayed in the Accrual page header.