Control Costs. Increase Billable Utilization. Improve Project Profitability.
With so many moving parts, tracking projects from beginning to end is a challenge for any business. It becomes even more difficult when you add managing project revenue, expenses, and profitability over the lifetime of a project as well as ensuring clients are billed accurately and on time.
The solution to this problem lies in cloud ERP applications that offer project management and accounting capabilities, such as Acumatica. With project management accounting cloud ERP like Acumatica, businesses can easily manage all aspects of their projects, from tracking expenses and revenue to resource allocation and invoicing.
Automate Project Accounting and Invoicing for Improved Cash Flow
Acumatica Project Accounting is integrated with all core financials, including accounts payable, accounts receivable, general ledger, sales orders, purchases orders and inventory management.
This means the current status and financial performance of any given project is available in real-time in one single view.
Keep an eye on the profitability of the project.
You can compare the real-time profitability of a project to its budget in easy-to-read reports and graphs, both at a high level and in more detail.
Flexible & Automated Invoicing
An end-to-end invoicing system automates project invoices and approvals based on the specific project or customer. Invoices with unpaid balances can be checked in real time, and the general ledger and project accounting can be combined in a way that works well.
Automate Project-Level Revenue Recognition Processes
Recognize revenue against its unique schedule and guidelines, leverage revenue recognition that’s separate from project billing to gain a true view of project profitability.
Take a Look at How Acumatica Project Accounting Can Benefit Your Organization.
For project-centric businesses of all kinds, Acumatica Cloud ERP streamlines the flow of information from an opportunity in CRM to a quote to a sales order and on to a customer invoice; from a purchase order to an accounts payable bill, resulting in expenses and inventory transactions that culminate in entries in the general ledger and project modules. The result, for decision makers throughout the organization, is timely, accurate insights at their fingertips.
Track projects & costs
• Get a complete picture of projects, including material, labor, service, and inventory costs.
• Track project progress: Acumatica for Project Accounting provides real-time project status tracking for better performance monitoring.
• Manage project costs: Acumatica allows granular-level cost tracking to avoid financial surprises and ensure staying within budget.
Confidence in invoice
• Differentiate billing rates based on the type of work, employee, customer, or specific project.
• Calculate revenue based on percentage of completion or task progress.
• Allow remote employees, installers, contractors, and others to submit work orders and timesheets from any browser that is enabled.
Projects in multicurrency
• Enter project transactions in different currencies and keep track of projects in both the base and project currencies.
• Examine actual revenues and costs, as well as committed costs in project currency and customer costs in the customer’s currency.
• Companies within the same tenant can have different fiscal year-end dates. This is critical for businesses that share vendors, inventory, and employees. Each branch location has its own set of financial periods.
Project Accounting Guide for Professional Services
Complete the form below to see the advantages of Acumatica Project Accounting.
Why Partner with Concentrus?
Here at Concentrus, we can get you up and running on Acumatica right the first time.
We are different from your average Acumatica provider because we’ve been in your shoes before. We understand how frustrating it can be to find a partner who will really listen and help you get to where you need to be. We focus on helping our clients get the right systems, people, and processes in place to be successful. We focus on your goals and objectives rather than an arbitrary schedule. Your success is our success.
