Effectively Manage your Business with Project Accounting

New House FramingFor over 25 years, ACI Consulting has been providing our clients with business management solutions designed to save them time and money and make accounting a dream come true. Is that hard to believe? First off, is your company currently dealing with any of the following issues?

  • Unable to accurately track expenses
  • Ensuring your incoming revenue gets to the right place
  • Employee timesheets and commission tracking
  • Keeping track of ever-changing rates
  • Inventory, inventory, inventory

Do you need one software solution that is the answer to all of your accounting problems? Let ACI Consulting set you up with Project Accounting, an industry-leading component of Sage 500 ERP (MAS 500). This reliable, robust, and integrated suite of business applications offers a flexible, full-featured business management solution.

Eliminate multiple project tracking systems—and the possibility of human error—by taking advantage of Project Accounting’s advanced project selection function. Easily recognize quarter over quarter profits with the six GAAP-compliant profit recognition methods in Project Accounting. Acquire dependable information about your growth for every project by assigning multiple profit recognition methods within each project.

Access Project Accounting from anywhere—your kitchen table, office, or a hotel in Tokyo—via the Internet. This capability gives project managers and supervisors the option to obtain accurate information about project profitability, while offsite workers are assured time and expenses are properly tracked and entered.

In addition, forecast completion, a unique feature of Project Accounting, allows project managers to track actual costs against estimated costs, helping to prevent cost overruns and giving you the overall picture of your costs. Give your employees the ability to analyze data at various levels with the comprehensive estimating function. As projects grow and change, Project Accounting allows changes to be made to the estimated budget to adjust accuracy throughout the life of a project.

Benefits of Project Accounting Software:

  • Project Maintenance and Setup: oversee all parts of your project, including estimates, change orders, purchase orders, timesheets, and billing.
  • Choose from six GAAP-compliant profit recognition methods.
  • Pick from multiple project types: Time and Materials, Fixed Price, and Fixed Price Plus.
  • Assign detailed employee contract rates at the project, project title, or resource level.
  • Estimate multiple cost types through comprehensive estimating.
  • Change or adjust estimates as needed.
  • Project Tracking Facilities: stay on budget and generate savings.
  • Monitor profit recognition by item.
  • Classify projects for reporting purposes.
  • Enter project, phase, and task start and end dates.
  • Track both taxable and nontaxable projects.
  • Timesheet Processing: process your time and materials against one or multiple projects.
  • Oversee remote entry through your web browser with Sage TimeSheet.
  • Both worksheet and calendar-style data entry options available.
  • Assign rates based on project, resource, title, phase, task, or date.
  • Expense Claim Processing: input expenses as they happen—without the hassle of paper submission.
  • Enable remote entry through web browser with Sage TimeSheet.
  • Support reimbursable and non-reimbursable expenses.
  • Generate accounts payable vouchers.
  • Financial, Distribution, and Manufacturing Integration: effortlessly assimilate to Sage 500 ERP General Ledger, Accounts Receivable, Accounts Payable, Inventory, Purchase Order, and MRP modules.
  • Generate vouchers from expense claims.
  • Move stock in and out of projects.
  • Ship products from one location to another.
  • Create purchase orders for items not in stock.
  • Track purchase order commitments.
  • Leverage MRP for material demands.
  • Additional Costing Functionality: easy-to-use costing methods.
  • Allow general ledger transaction costing.
  • Consent to asset usage costing.
  • Invoicing Features: provide a range of invoicing and customization options to fit customer needs.
  • Invoice parts or all of a project.
  • Customize invoice layouts for each project.
  • Invoice customers by date, percentage, contract, or project.
  • Print invoices in summary or detail.
  • Display timesheet comments on the invoice.
  • Manage project retainability by amount or percentage.
  • Supplementary Features: boost effectiveness with these additional benefits.
  • Utilize user-defined fields.
  • Alert facilities regarding workflow approvals and changes in a project.
  • Security: assign security groups and access permissions that restrict access to private banking transactions and account information.
  • Set up security groups, limiting or permitting access to a specific group of users.
  • Establish access permissions such as display only, excluded, add/change/delete, or supervisory.

Contact ACI Consulting