Manage all project billing scenarios including cost plus, fixed price, time and materials, milestone billing, and contract specific pricing.
Acumatica’s billing software allows modifying resource billing rates by project, project tasks, inventory item, employee, and account group. Calculate time and materials billing according to the customer, the type of work being performed, or the specific project requirements.
Handle the most complex project billing rules and easily calculate project revenue in multiple currencies based on key project-specific attributes.
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.
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.
Define project billing parameters to automatically generate invoices at the right time. Save time, reduce errors, and improve cash flow.
Configure multiple rate tables for specific projects or project tasks for additional billing flexibility.
Bill projects weekly, monthly, quarterly, or according to a company-specific statement cycle for a project or customer. Delay posting of timesheets and materials expenses until released.
Apply markup at the customer level and vary according to labor and service type to provide maximum flexibility.
Correct improperly applied charges with an automatic reversal and invoice regeneration capability.