Common use of Project Accounting Subsystem Clause in Contracts

Project Accounting Subsystem. The operation of this subsystem shall enable the Construction Team to plan effectively and to monitor and control the funds available for the project, cash flow, costs, change orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable. This subsystem will be produced and updated monthly and includes the following reports :

Project Accounting Subsystem. The operation of this subsystem shall enable the Construction Team to plan effectively and to monitor and control the funds available for the project, cash flow, costs, change orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable. This subsystem will be produced and updated monthly and includes the following reports reports:

Project Accounting Subsystem. The operation of this This subsystem shall enable the Construction Team Contractor to plan effectively and Owner to monitor and control the funds available for the projectProject, cash flow, costs, change ordersChange Orders, Construction Change Directives, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable, and also enable Owner to stay informed as to the overall Project status. All reports to be generated as part of this subsystem shall be consistent with the Project Funding Schedule (if any). This subsystem will be produced and updated monthly and includes the following reports reports:

Project Accounting Subsystem. The operation of this subsystem shall enable the Construction Team to plan effectively and to enable the City’s Representative to monitor and control the funds available for the projectProject, cash flow, costs, change ordersChange Orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable, and to plan effectively. This subsystem will be produced and updated monthly and includes the following reports :reports, which together will serve as a basic accounting tool and an audit trail. This report may be further defined by the City’s Representative.

Project Accounting Subsystem. The operation of this subsystem shall enable the Construction Team to plan effectively and to monitor and control the funds available for the project, cash flow, costs, change orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable. This subsystem will be produced and updated monthly and includes the following reports :which together will serve as a basic accounting tool and an audit trail. This report will also provide for accounting by building and site element.

Project Accounting Subsystem. The operation of this subsystem shall enable the Construction Team to plan effectively and to monitor and control the funds available for the projectProject, cash flow, costs, change orders, payments, and other major financial factors by comparison of budget, estimate, total commitment, amounts invoiced, and amounts payable, and to plan effectively. This subsystem will be produced and updated monthly and includes the following reports :reports, which together will serve as a basic accounting tool and an audit trail. This report will also provide for accounting by building and site element.