Acumatica Project Accounting
With project accounting software powered by Acumatica Cloud ERP, you can manage budgeting, inventory, change orders, time sheets, billing, profitability, and reporting for individual business initiatives. Contact us today for a free product demo and evaluation.
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Why Choose Acumatica
The Project Accounting Software feature set is fully integrated with General Ledger, Accounts Payable, Accounts Receivable, Sales Orders, Purchase Orders, Inventory Management, and the Time and Expense modules, as well as the Time Tracking mobile application.
- Scalable. Track all types of projects – large or small, internal or external, single or multi-currency. Acumatica offers mobile-friendly, fast, and convenient data entry and information access.
- Flexible. Configure the system to match your company’s unique workflows, and set permissions that give you maximum security.
- User-Friendly. Intuitive interfaces make entering time, approving expenses, and running reports as easy as the click of a button. Spend less time training your team and more time running your business.
Acumatica is available in-browser, accessible on any internet-enabled device. This means automatic updates, no IT maintenance budget, and easy insights no matter where you are. Easily create and send invoices, approve time sheets, and view reports, from the convenience of your mobile device.
Employees and contractors can enter time and expenses on any Apple or Android device using the Acumatica Mobile App and attach photos of receipts. Workflows route completed reports for approvals on managers’ mobile device.
Project Accounting Applications In Acumatica
PROJECT COST TRACKING
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.
TIME & EXPENSE MANAGEMENT
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.