Manage inventory, time sheets, budgeting, profitability, change orders, and reporting for individual business initiatives. Projects are included in company-wide financial reports with full multi-currency support.
Project Accounting
Overview and Data Sheet
Acumatica Project Accounting is ideal for professional services companies such as construction and engineering firms, consultants, law firms, and marketing companies.
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!
Flexible, Accurate Billing
Vary billing rates by type of work, specific project, or employee/customer. Recognize revenue based on task progress or completion percentage.
Budget Reporting
Compare actual project costs with original and revised budgets and forecasts by period using real-time reports. Include all project cost including non-stock items, services, inventory items, labor, and more.
Company-Specific Financial Periods
Businesses within the same tenant can have different fiscal year-end dates, which is important for companies that share stock items, vendors, and employees. Company-specific periods are defined at the branch level.
Manage Project Quotes
Simplify pricing and project sales by improving project control, supporting complex quote processes, and management. Create quotes, update them, link them to CRM and track versions. When it's approved, create projects and provide billing details.
Track Project Costs
Have access to a complete view of project-related costs for labor, inventory items, services, and materials.
Revenue Recognition
Define billing rules to recognize revenue using the completed tasks method or the percentage of completion. All recognition rules are automatically reflected in the GL journal entries.
Multi-Currency Project Accounting
Enter project transactions in different currencies and maintain projects in the project currency and the based currency. Project managers and accountants can review actual revenues, actual costs, and committed costs in the project currency while able to calculate project profitability in the base currency and project currency to present to the customer in the customer's currency.
Control Change Orders
Improve your project management by controlling changes to the project scope, including internal and customer requests. Create a change order with all the documentation including: cost budget, class, commitments, and revenue budget. Define your workflows, approval processes, and release change orders with full business intelligence visibility and audit trail control.
Advanced Expense Management
Utilize smart expense matching, automated transaction feeds, and push notifications to eliminate manual expense management processes.
Time Management Activities
Capture employee or crew time for service, projects, and payroll with flexible approvals workflow and mobile time entry.
Project Cost Tracking
Obtain a total view of all costs related to a project including services, materials inventory items, and labor. Allocate the overhead expenses and shared costs to projects based on formulas. This is ideal for project0centric businesses including construction, engineering, marketing, consultants, legal, etc.
Advanced Billing
Manage your billing scenarios: fixed price, milestone billing, contract-specific pricing, cost plus, and time/materials. Modify resource billing rates by project, employee, account group, inventory item, and project tasks. Bill materials and labor according to. the customer, the specific project contract, or the type of work being performed.
