Project Cost Tracking
Monitor and manage project costs, revenues, and budget for projects. Define projects and tasks, then populate projects with employees, resources, and equipment. Manage projects of any complexity across different project types and industries and roll costs up to financial reports.
How Acumatica Project Cost Tracking can work for you
Seamlessly integrate with Acumatica General Ledger, Accounts Payable, Accounts Receivable, Inventory, Purchase Orders, Sales Orders, Time Management, and Advanced Expense Management modules to automatically track project costs and budget. Associate any document with a specific project for complete accounting for all activities and costs. Ideal for any industry including professional services organizations such as engineering firms, marketing companies, consultants, law firms, temp agencies, and many others.
Key Benefits of Acumatica Project Cost Tracking
Available from Anywhere
Make it easy for remote employees, installers, contractors, and others to submit work orders and timesheets from any browser-enabled device.
Scalable for Any Type of Project
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.
Billable Revenue Tracking
Track future revenues as a project progresses. Accommodate complex pricing models with confidence in conjunction with Acumatica ERP.
Labor Cost Rate Flexibility
Define costs by employee, labor item, project, project task, and rate type, simplifying time entry and improving visibility, particularly for construction prevailing wage and union requirements. Expand integration with payroll and HRM systems with projects, tasks, cost codes and standard and actual costs using the Contract-Based API.
Total View of All Costs
Get up-to-date information on all project costs, including completed work and work-in-process accounting. Track employee time, sub-contracted services, material, and inventory. Easily compare actual project costs with original and revised budgets by period. Continuously track budget execution and cost vs budget.
Important Features of Acumatica Project Cost Tracking
Assign project managers, employees, equipment, and other resources to projects and tasks.
Establish billing rules and options for each task.
- Define tasks globally or for individual projects.
- Assign billing rates by project, job role, and individual to generate expected revenues in project budgets.
- Easily add activities using Project Accounting or through CRM.
- All Acumatica modules are fully integrated.
- Allocate overhead and shared expenses to individual projects according to custom formulas created including billable and non-billable items.
- Create new projects from master templates. Specify people, equipment, budgets, and project billing.
- Multiple users can work on multiple concurrent projects.
Access payroll costs as soon as they are posted from Time Management, rather than waiting to see them until after payroll runs have been processed.
- Keep close track of accumulated but unbilled costs (work-in-progress) to help keep projects on budget.
- Acumatica adds control for billing against schedules without losing track of actual expenditures.
- Enter and modify budget forecasts and compare these forecasts with the actual project costs and income for each financial period.
- Users can forecast original and revised budget amounts and quantities for existing project budget lines for financial periods of the master calendar.
- Also, users can create generic inquiries and pivot tables.
- Simplify corrections based on general ledger account or subaccount, project or project task, and cost code.
