Acumatica Project Accounting

Get up to date information on all project costs, including completed work and work in progress.

Compare actual project costs with estimates and scope changes using real-time reports. Include or exlcude all project costs: inventory items, non-stock items, employee time, sub-contracted services, and raw materials.

Track future revenues as a project progresses. Accommodate complex pricing models with confidence in conjunction with Acumatica ERP. Optionally recognize revenue based on percentage of project completed or based on tasks completed. All project revenue recognition rules are automatically reflected in GL journal entries.

Manage any billing scenario with confidence: cost plus, fixed price, time and materials, milestone billing, and contract-specific pricing. Vary your billing rates by employee, customer, type of work, or specific project.

Invoice according to project and contract requirements – fixed price set in advance or cost-plus projects in which the invoice amount is not known until costs and fees are incurred. Billing on cost-based projects can be capped.

Apply billing markup at the customer level with option to vary according to labor and service type to provide maximum flexibility.

Improve accuracy and timeliness of time and expense reporting. Enable easy and convenient reporting anytime, anywhere on any browser or through the app.

Employee time reports and tracked expenses are automatically assigned for approval. On approval, time cards can generate a customer invoice and update contract status.

Employees submit expense claims, attaching scanned receipts and supporting documents through mobile devices. Claims follow a predefined approval process. Acumatica creates a bill in Accounts Payable for reimbursement and a customer invoice for approved, billable items.