Acumatica’s Project Accounting application provides visibility across projects, finance, customer accounts, inventory, and related business processes. Project accounting data and workflows extend to the following applications.
Gain a complete view of project-related costs for materials, labor, services, and inventory items.
Compare actual project costs with original and revised budgets and forecasts by period using real-time reports. Include all project costs: inventory items, non-stock items, labor, services, and more.
Simplify project sales and pricing by supporting complex quote processes, improving project control and management. Create quotes, update them, link them to CRM and track versions. When approved, create projects and provide billing details.
Vary billing rates by employee / customer, type of work, or specific project. Recognize revenue based on completion percentage or task progress.
Improve project management by controlling changes to the project scope, including customer and internal requests. Create a change order with all the documentation attached. Define your workflows and approval processes, and release change orders with full business intelligence visibility and audit trail control.
Companies within the same tenant can have different fiscal year-end dates, important for companies that share vendors, stock items, and employees. The company-specific periods are defined at the branch level.
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. Deferred revenue and recurring revenue models are supported out of the box.
Enter project transactions in different currencies and maintain projects in both the base currency and the project currency.
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