Project
Project Accounting can support the accounting needs of multiple project types such as time and materials and internal projects such as cost and time projects. By enabling you to deconstruct a large, complex project into manageable subprojects and providing easy-to-use graphical project family trees, Project Accounting helps you rapidly identify and address delays and avoid cost overruns.
The solution helps you manage day-to-day administrative financial tasks and anticipate potential delays by helping you and your employees estimate and record the completion percentage of activities. Your employees can easily register their working hours on-site or remotely by using the Internet, providing you with an always-updated view of employee hours spent on a project.
Project Accounting serves as a central data repository where your employees can keep the status of their projects registered and up to date. Having accurate information enables you to shorten the billing cycle because you can generate invoices immediately and get paid for projects faster. Invoices can appear in the currency of your choice to suit the needs of your customers and vendors in projects or subprojects. You can also bill multiple projects for one customer by creating a single invoice event whenever you need to. The solution helps you avoid delays and predict major cash outflows by planning when you will need to acquire chargeable equipment and materials throughout a project.
Project Accounting lets you build meaningful hierarchies and categorize projects using sorting criteria, so you can understand the true costs of the services you render and get an accurate and detailed view of profitability. The solution can provide actionable data to help you identify market trends, take on the right projects, and avoid committing to projects that you can’t staff or that won’t be profitable.
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Target Markets
Business processes