Project Accounting Suite

Centrally manage budgeting, billing, and profitability for individual business initiatives involving multiple employees, tasks, and materials. Real-time reporting rolls projects up to company-wide financial reports.

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 include:

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 realtime 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.

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Project Accounting