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.
- 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.
- New! in 4.1 – Streamlined and Unified Employee Time Entry: Streamlined and Unified Employee Time Entry now features Timecards, Timesheet and Simple Time Cards combined on a single screen. Setup is quick and easy and users can enter data multiple ways from a single screen, making it faster to enter time for employees and equipment.
- Allocate expenses
- Budget mark up
- Scalable – multiple projects
- Revenue recognition
- Timesheets linked to specific projects and budgets
- Task definition
- Flexible billing
- Integrated and visible in other modules
- Audit trails
Project Task Summary