FESA CONSOL

FlexSystem

Project Level Trial Balance Not Balance

Issues

Managing construction and engineering businesses usually involves focusing on project level financial statements but existing implementations of an ERP suffer from non-balancing trial balances for every project. Extensive reconciliation work has to be done to rectify these trial balance reports in order to support the preparation of project based financial statements.

  

Expectations

The expectation is that when a system can support voucher validation and double entry recording for every business transaction then a project based trial balance should be easy to achieve in practise.

  

Solutions

FESA Financial is capable of interfacing with third-party ERP systems thereby ensuring the successful implementation of a double entry recording methodology for every business transaction.

  

Benefits

The management of construction and engineering businesses can obtain a full set of financial statements for every project and every group of homogenous projects without suffering from the issue of a non-balancing trial balance.