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Project Accounting

Manage Budgeting, Inventory, Time Sheets, Billing, And Reporting For Project-based Initiatives Involving Multiple Employees, Tasks, And Materials

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Acumatica Project Accounting is ideal for professional services organizations such as engineering and construction firms, marketing companies, consultants, and law firms. 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.

Expense Allocation – Allocate overhead and shared expenses to individual projects—easily—according to formulas you create. Allocations can include billable or non-billable items.
Revenue Recognition – Define billing rules to recognize revenue using the percentage of completion or the completed tasks method. All recognition rules are automatically reflected in the GL journal entries.
Budget Tracking – Include inventory items, non-stock items, labor, services, and more in project budgets. Compare actual project costs with original and revised budgets with real-time reports.
WIP Support – Keep better track of costs by correctly accounting for work in progress, and avoid impacting COGS prematurely.
• Resource Management – Assign project managers, employees, machines, and other resources to individual projects and tasks.

PROJECT ACCOUNTING FEATURES AND CAPABILITIES

Billing Mark-Up
Set up projects to bill cost plus or fixed contract cost. Apply markup at the customer level and vary according to labor and service type to provide maximum flexibility.

Link Timesheets to Specific Projects
Employees can enter timesheets in the employee portal or enter activities linked to projects in CRM. Either option links hours to specific projects and budgets.

Integrate with Other Modules
Project features are available in the GL, AP, AR, Sales Order Management, Purchase Order Management, Employee Portal, and Inventory Management modules. Simply select the modules where you want Project Accounting to appear.

Scalable
Use templates to quickly create new projects with preset configurations. The scalability of the cloud allows you to include multiple users working on multiple concurrent projects.

Task Definition
Assign tasks globally or for individual projects. Assign tasks specific billing rates by project, job role, and individual resources. Expected revenues are automatically generated in project budgets.

Add Project Activity Directly
Easily add activities using either Microsoft Project or CRM. Information is integrated and used later in worksheets and billable data.

Reverse Un-Billed Transactions
If a bill was generated and applied incorrectly, it can be reversed and regenerated.
Create Billing Rules

Handle the most complex billing rules and easily calculate project revenue based on key project-specific attributes.

Audit Trails
Review which user entered and changed the details of any project transaction. Any potential auditing process will be simplified with notes and supporting electronic documents that are automatically attached to transactions.