Project Management Financials

Job costing is one of the main reasons contracting firms look for a new accounting system. Many firms are satisfied with their accounting software in terms of general accounting functions, but when it comes to handling project related financials, i.e. subcontracts, change orders, AIA invoicing, and budget tracking, these systems tend to fall short. If your firm is struggling with these functions, Corecon is your answer!

Corecon’s project management financial features are flexible and powerful enough to meet the demands of any type and size firm. Below is a breakdown of the more salient features within these modules.

Contract Administration

• Track multiple prime contracts (i.e. Design/Build, Lot 1/Lot 2) for a given project
• Contract Types: Fixed Lump Sum, Cost Plus, Unit Price
• 4 Types of Budgets By Contract and Cost Code: Contract Amount, Cost, Labor Hours, and Equipment Hours
• Change Management: Change Proposal Request (CPR) and Change Orders (CO)
• Progress Invoices that are AIA style with Retention Tracking

Procurement

• POs , Bills
• Subcontract, Sub Change Orders (SCO), Sub Invoices
• Miscellaneous Expenses
• Anticipated Costs

Time Tracking

• Employee Management
• Labor Timecards
• Equipment Management
• Equipment Timecards

Executive Dashboards

• Business Intelligence dashboards to analyze multiple projects or a single project
• Cost Reporting: Estimated, Committed, and Cost To Date
• Labor Hour and Equipment Hour Analysis
• Work-In-Progress (WIP) reporting
• Drill-down reports by Project, Contract, and Job Cost Code

Integration with QuickBooks or SAP Business One

• Synchronize Customers and Vendors
• Setup new customers and jobs upon award
• Export Project Financials directly to AP and AR
• Export Timecards to Payroll
• No double entry guaranteed!