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Make Proactive Decisions by Tracking Real-Time Project Costs

By July 22, 2013Sage 500 ERP

Sage 500 ERP Accounting ModuleTired of ERP systems that only scratch the surface of project accounting?

Are you looking for real-time project data at your fingertips?

Do you spend too much time trying to control billing rate changes?

You’re not the only one.

 

With Sage 500 ERP you can easily increase project profitability because you can see into the future.  Literally, with basic inputs, you can track your rates and reallocate if need be.  Don’t end up over budget because your ERP system couldn’t check out the track you were on; look into a solution that can forecast for you so you stay on budget and know where you’re going.

Project Accounting is a key component of Sage 500 ERP (formerly Sage ERP MAS 500), a highly reliable, robust, and integrated series of business applications that delivers a flexible, scalable, and full-featured total business management solution.

Project managers can track actual against estimated costs through forecast completion, which helps prevent cost overruns and generates bottom-line savings. The Project Accounting module’s detailed estimating function allows estimation of multiple cost types, giving users the ability to report and analyze data at multiple levels. Data-driven contract rates handle numerous and complex project rates, making it easy for project managers to control rate changes and profitability. As project scope evolves, Project Accounting permits changes to the estimated budget to increase forecast accuracy throughout project lifecycles.

Project Accounting allows project managers to optimize project profitability through appropriate project type selection—whether it’s time and materials, fixed price, or both. The option to choose the most appropriate project type decreases project management costs by eliminating multiple project tracking systems. In addition, the six GAAP-compliant profit recognition methods in Project Accounting provide the power to control profit recognized over each period, resulting in a well-managed revenue stream. The ability to assign multiple profit recognition methods within projects provides strict profit recognition control on every project.

Project Accounting provides remote time and expense entry and project status inquiry from anywhere in the world through the Internet. With this capability, project managers and supervisors can obtain timely information about project profitability, while remote workers are assured their time and expenses are accurately tracked and entered.

BENEFITS

  • Monitor all details of your project, including estimates, change orders, purchase orders, timesheets, and billing.
  • Track projects closely to prevent cost overruns and generate bottom-line savings.
  • Process your time and materials against one or multiple projects.
  • Input expenses electronically as they are incurred without the hassles of paper submission.
  • Enjoy seamless integration to Sage 500 ERP General Ledger, Accounts Receivable, Accounts Payable, Inventory, Purchase Order, and MRP modules.
  • Provide a wide range of invoicing and customization options to meet specific customer needs.

Contact Our Sage 500 ERP Team

Want to learn more? Need more information? Contact our Sage 500 ERP Team at 877-979-5462 or click here.

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

SWK Technologies, Inc.