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Project Accounting - what are the unique transaction for profession service?

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Hi All,

Has anyone implemented Project Accounting for Professional Service company? They book time into the project.  So the Hour Journal is used.  Other types would be Fee and Expenses.  What type of project do you normally see in Professional Service?  Time & Material? Fixed Price (Percentage of Completion)? or something else? What do you see as unique about professional service that you don't see in other industry?  Your feedback is appreciated. 


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