Project and Job Costing provides an effective solution for project managers in construction, job service and other professional industries, as well as for businesses that require a time and materials system.
- Powerful estimating capabilities
- Flexible contract management
- Full Web deployment
- Comprehensive transaction processing
- Extensive inquiry capabilities
- Complete integration
Powerful Estimating Capabilities
Assign staff, material, subcontractors, equipment, miscellaneous items and overhead to each project within the contract.
Set up complex estimates by specifying the quantity (for example, hours), unit cost and billing rate (for time and materials projects) for each staff member, material (inventory item), subcontractor, equipment, miscellaneous item and overhead expense allocated to a project. Assign the cost categories to which they apply to automatically calculate cost and revenue estimates for each cost category, or simply define the cost and revenue estimates for each category within a project.
Flexible Contract Management
Comprehensive Transaction Processing
- Manage contracts or jobs at three levels - contract (job), project (phase) and category.
- Maintain multiple projects or phases within each contract and track multiple categories within each project.
- Change contract, project and category names to match industry-specific terminology.
- Maintain multiple contracts or jobs per customer.
- Use as many as five segments in your contract numbers to represent types of contracts and divisions.
- Easily navigate through the projects and categories within the contract using the optional Tree view.
- Choose from three different project types - time and materials, cost plus and fixed price. Each project within the contract can be a different type.
- Select the accounting method (revenue recognition method) for each project within the contract. Choose from total cost percentage complete, category percentage complete, labor hours percentage complete, billings and costs, project percentage complete, completed project or accrual-basis. Mix and match the project types and accounting methods for very complex or simple projects.
- Specify begin and end dates for each project to allow for timelines.
- Set up projects and categories that you can use for default information.
- Assign each category to one of six cost types (labor, material, equipment,
miscellaneous, overhead and subcontractor) to track costs at an appropriate level for your company.
- Assign up to seven progress statuses to each contract and project. Choose from estimate, approved, open, on hold, inactive, completed and closed.
- Close a project to billings and/or costs at any time.
- Automatically override General Ledger revenue account segments for each project and cost account segments for each category.
- Easily set up a new contract using the step-by-step wizard.
- Quickly create a new contract by copying an existing contract.
- Maintain records for subcontractors, equipment, staff, miscellaneous items, overhead expenses and charges that can be assigned to any project. Record the Accounts Payable vendor on each subcontractor record.
- Allocate overhead and labor burden to each category.
Extensive Inquiry Capabilities
- Specify whether each transaction is billable, non-billable or no charge.
- Automatically create a customer's invoice based on the transactions that are due to be billed.
- Review the generated billings for a customer and make necessary changes before updating ACCPAC Advantage Series Accounts Receivable.
- Bill a customer for different contracts, projects and categories on the same Accounts Receivable invoice. Create billings in the customer's currency.
- Transfer inventory items to a contract, project and category and bill the customer for the inventory used.
- Return inventory items not used in a project to inventory for availability on other projects.
- As equipment is used within a project, record the cost and billing rate (for time and materials projects) of the equipment so that you can bill the customer for usage.
- For small contracts, post contract transactions directly to revenue and cost accounts using the accrual-basis accounting method.
- Allow employees to easily manage their time and billing records from any location (on site or at the office) by entering timecards using an Internet browser.
- Approve employee timecards and expenses before updating ACCPAC Advantage Series U.S. or Canadian Payroll.
- Record miscellaneous charges such as service fees for time and materials projects.
- Update revenue and cost estimates at any time with a full audit of all changes.
- Allow a project manager or another designated employee approve each transaction before updating the contract.
- Recognize revenue at the project level and costs at the category level.
- Choose when to recognize revenue based on GAAP requirements and your business needs.
As actual costs are recorded, use the comprehensive inquiry tools to determine whether the project is within budget.
Review the current state of each project through the centralized inquiry capabilities. Review the project status, profitability and estimate-to-actual comparisons.
Track original estimates, current estimates and actual amounts for each project.
Track costs for labor, material, equipment, subcontractor, miscellaneous item and overhead expense categories.
Track original estimates, current estimates and actual amounts for staff, equipment, material, subcontractors, miscellaneous items, overhead expenses and charges assigned to the project.
Drill down to the originating cost and billings transactions.
Print comprehensive, customizable reports to analyze project status and profitability.
Integrates with ACCPAC Advantage Series General Ledger, Accounts Receivable,
Accounts Payable, Inventory Control and U.S. and Canadian Payroll.