Project Edition Dynamic Virtual GL Accounts

HI,

I found Following text written on xTuple website for Project edition link:

http://www.xtuple.com/project

"At the heart of the Project Accounting functionality is the concept of the "virtual" General Ledger (G/L) Account. With Project Accounting, virtual G/L Accounts are built dynamically or "on-the-fly" using a combination of existing G/L Account Numbers and the linked Project Name.

->Simple/Series Journal Entry
* Manual adjustments by Project to any G/L Account"

Can anyone please explain the text as It seems that i can use single COA in GL for multiple projects ?

Is this functionality available in manufacturing edition and how ?

Regards,

Fahd