Centrally manage budgeting, billing, and profitability for individual business initiatives involving multiple employees, tasks and materials
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 Of Project Accounting
- 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
Learn more with this Acumatica Project Accounting Data Sheet
Accessible From Anywhere
The Cloud makes it easy for remote employees, installers, contractors, and others to submit work orders and timesheets from any browser enabled device.
Secure, Authorized Data Entry
Advanced security features let you authorize users to perform specific tasks, allowing them to view only the data required to perform their job.
Customized Reports And Inquiries
Simplify reporting by using integrated query and reporting tools to deliver information at the project level, subsidiary level, or company level.
Flexible Workflows And Approvals
Create workflow and approval routes to match existing business processes for entering timesheets and more.
Gain Control Of Profitability
Gain rapid access to project-level profitability with centralized billing and expense data. Timesheets, materials, inventory, and allocated expenses are all included.