Project Accounting features are organized in the Project Management (PM) module and are visible in the General Ledger, Accounts Payable, Accounts Receivable, Sales Orders, Purchase Orders, Inventory Management, and the Employee Portal modules. Project accounting is ideal for professional services organizations such as engineering firms, marketing companies, consultants, law firms, temp agencies, and many others.
KEY FEATURES OF PROJECT ACCOUNTING
Expense management Gain a complete view of project-related costs by tracking materials, labor, services, and inventory items. Allocate shared costs based on formulas
Advanced billing Vary billing rates by employee depending on the customer, type of work, or specific project. Recognize revenue based on completion percentage or tasks.
Budget tracking Include inventory items, non-stock items, labor, services, and more in project budgets. Compare actual project costs with original and revised budgets with real-time reports.
WIP support Keep better track of costs by correctly accounting for work in progress, and avoid impacting COGS prematurely.
Resource management Assign project managers, employees, machines, and other resources to individual projects and tasks. Establish billing rules and options for each task.
ACCESSIBLE FROM ANYWHERE The Cloud makes it easy for remote employees, installers, contractors, and others to submit work orders and timesheets from any browser-enabled device.
SECURE, AUTHORIZED DATA ENTRY Advanced security features let you authorize users to perform specific tasks, allowing them to view only the data required to perform their job.
CUSTOMIZED REPORTS AND INQUIRIES Simplify reporting by using integrated query and reporting tools to deliver information at the project level, subsidiary level, or company level.
FLEXIBLE WORKFLOWS AND APPROVALS Create workflow and approval routes to match existing business processes for entering timesheets and more.
ELIMINATE DUAL DATA ENTRY Because timesheets, proposals, tasks, and more are used for both project planning and billing, you only enter data once, saving time and reducing errors.
GAIN CONTROL OF PROFITABILITY Gain rapid access to project-level profitability with centralized billing and expense data. Timesheets, materials, inventory, and allocated expenses are all included.