Cloud Project Accounting Software
Manage Budgeting, Inventory, Change Orders, Time Sheets, Billing, and
Reporting for Project-Based Initiatives Involving Multiple Employees, Tasks,
and Materials
Are you a professional services company? Acumatica Cloud Project Accounting Software is ideal for professional services companies that operate within the engineering, marketing, consulting, and legal industries.
This Project Accounting software integrates with Acumatica General Ledger (GL), Accounts Payable (AP), Accounts Receivable (AR), Sales Order Management, Purchase Order Management, Inventory Management, and more.
Expense Allocation. Allocate overhead and shared expenses to individual projects, including billable or nonbillable items.
Revenue Recognition. Define billing rules to recognize revenue using the percentage of completion or the completed tasks method. All recognition rules are automatically reflected in the GL journal entries.
Budget Tracking. Include inventory items, nonstock items, labour, services, and more in project budgets. Compare actual project costs with original and revised budgets by period with real-time reports.
Resource Management. Assign project managers, employees, machines, and other resources to individual projects and tasks.
Work in Progress (WIP) Support. Keep better track of costs by correctly accounting for work in progress and avoid impacting the cost of goods sold (COGS) prematurely.
The Benefits of the Acumatica Cloud Project Accounting Software
Track Projects & Costs. Gain a complete view of projects, including costs for materials, labour, services, and inventory features.
Invoice with Total Confidence. Vary billing rates by type of work, employee/customer, or specific project. Recognize revenue based on completion percentage or task progress.
Control of Budgets. Enable remote employees, installers, contractors, and others to submit work orders and timesheets from any browser-enabled device.
Acumatica Cloud Project Accounting Software Features & Capabilities
Change Orders
Improve project management by controlling changes to the project scope, including customer and internal requests. Create a change order with all the documentation, including the revenue budget, cost budget, commitments, and class.
Billing Markup
Set up projects to bill cost-plus or fixed contract cost. Apply markup at the customer level and vary according to labour and service type to provide maximum flexibility.
Forecast Project Budget by Period
Enter and modify project budget forecasts and compare these forecasts with the actual project costs and incomes for each financial period.
Add Project Activity Directly
Add activities using either Microsoft Project or CRM. Information is integrated and used later in worksheets and billable data.
Link Timesheets to Specific Projects
Employees can enter timesheets in the employee portal or enter activities linked to projects in CRM. Either option links hours to specific projects and budgets.
Scalable
Use templates to create new projects with preset configurations. The scalability of the cloud allows you to include multiple users working on multiple concurrent projects.
Task Definition
Assign tasks for individual or global projects. Assign tasks specific billing rates by project, job role, and individual resources. Project budgets reflect expected revenues.
Reverse Unbilled Transactions
If a bill was generated and applied incorrectly, it can be reversed and regenerated.
Create Billing Rules
Handle the most complex billing rules and easily calculate project revenue based on key project-specific attributes.