Acumatica Project Accounting
Project-based businesses have unique needs that require specific functionality. Project managers need to know who’s on what job, the costs and revenues of each job, and the steps they can take to improve profitability and productivity. Project management businesses need to continually focus on improvement—from customer satisfaction to project profitability—but too many organizations rely on outdated or underperforming tools to manage these and other factors.
Acumatica Project Accounting
Acumatica has designed and developed a project accounting solution for the unique needs of the professional services firm or project-based business. This platform helps leaders to make smarter decisions, simplifying everything about the business—budgeting, inventory, time sheets, billing, profitability, and reporting for individual business initiatives.
Offering an integrated platform aligned and synchronized with other business processes, Acumatica Project Management makes work easier for end users, project managers, and financial decision makers.
Features and Benefits of Acumatica Project Accounting
Designed to integrate with General Ledger, Accounts Payable, Accounts Receivable, Sales Orders, Purchase Orders, Inventory Management, and Time and Expense, Acumatica Project Management offers the following functionality for your business:
Project Cost Tracking in Acumatica
Get the total view of all costs related to a project including materials, labor, services, and inventory items. Allocate shared costs and overhead expenses to projects based on formulas. Ideal for project-centric businesses including engineering, marketing, consultants, legal, etc. Seamlessly integrate with Acumatica General Ledger, Accounts Payable, Accounts Receivable, Inventory, Purchase Orders, Sales Orders, and Time and Expenses modules to automatically track project costs and budget.
Gain a total view of all costs, make for better visibility of revenue and costs, and leverage labor rate flexibility—anywhere and everywhere. Key features of Project Cost Tracking include the following:
Easily Updated Tasks
Simple Expense Allocation
Easy to Create Tasks
Advanced Billing in Acumatica
Manage all billing scenarios: cost plus, fixed price, time and materials, milestone billing, and contract-specific pricing. Modify resource billing rates by project, project tasks, inventory item, employee, and account group. Bill labor and materials according to the customer, the type of work being performed, or the specific project contract. With advanced billing, you gain the flexibility you need and the control you deserve. Acumatica advanced billing offers the following:
Billing mark up
Reverse un-billed transactions
Time and Expense Management in Acumatica
Employees, partners, and contractors can enter timesheets from anywhere using any device with a browser. Time and Expense Management from Acumatica helps businesses monitor labor and material costs by providing tools for employees to track their hours and expenses, automated processes for managers to approve reimbursement requests, and reports to track and control labor costs.
Designed around your workflows, businesses leveraging this platform can take control of the expense claim process, add visibility into time tracking, and facilitate time entry with mobile applications, and Acumatica provides the following: