Managing complex projects can be difficult, however, monitoring project costs, revenues, and budgets should not be. Whether you’re a law firm, provide professional services, or run a consultancy firm, you require a system that seamlessly integrates your GL, accounts payable, accounts receivable, PO’s, and Sales orders in order to automate the tracking of project costs and budgets. Here is a guide on how to simplify project cost tracking and budget forecasts.
Assign project managers, employees, equipment, and other resources to projects and tasks. Establish billing rules and options for each task.
Define tasks globally or for individual projects. Assign billing rates by project, job role, and individual to generate expected revenues in project budgets.
Easily add activities using Project Accounting or through CRM. All Acumatica modules are fully integrated.
Enter and modify project budget forecasts and compare these forecasts with the actual project costs and incomes for each financial period. Users can forecast original and revised budget amounts and quantities for existing project budget lines for financial periods of the master calendar. Also, users can create generic inquiries and pivot tables.
Allocate overhead and shared expenses to individual projects according to formulas you create including billable and non-billable items.
Create new projects from master templates. Specify people, equipment, budgets, and project billing. Multiple users can work on multiple concurrent projects.
Keep close track of accumulated but unbilled costs (work-in-progress) to help keep projects on-budget. Acumatica adds control for billing against schedule without losing track of actual expenditures.
Choose a solution that enables you to simplify budget forecast and cost tracking. Enjoy the process of comparing past projects with current projects in order to estimate time and cost, better known as analogous estimating.
Get up to date information on all project costs, including completed work and work in process accounting. Track employee time, sub-contracted services, material, and inventory. Easily compare actual project costs with original and revised budgets by period. Continuously track budget execution and cost vs budget.
Track future revenues as a project progresses. Accommodate complex pricing models with confidence in conjunction with Acumatica ERP.
Track all types of projects – large or small, internal or external, single or multi-currency. Acumatica offers mobile-friendly, fast, and convenient data entry and information access.
Make it easy for remote employees, installers, contractors, and others to submit work orders and timesheets from any browser-enabled device.
Gain full visibility of your project plan, data on previous projects, a granular view of each line item, cost estimation, and total costs for superior project cost management.
With all the necessary project controls in place, you can ensure strict adherence through project budget management. Track every coin and resource from start to project completion. Choose the best superior project management software for success in the short and long-term.
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