Thanks. Is the Multi-Company module available on the SAAS edition?

Yes, it is.

Waqar, yes it's possible. You should use analytic accounts for that.

Thanks Fabrice Henrion! will you suggest analytic accounts if i say that each project is independed and also independed from company budget? through analytic account i can get general ledger report of each project separtely?

Considering you can organize your analytic accounts the way you want and create reports based on them the same way you create reports on regular accounts. Yes, it's possible.