Project and Job Costing provides an effective solution for project
managers in construction, job service, and other professional industries
who require a timeandmaterial system. It delivers the tools necessary
to manage the simplest to most complex contract or job. It makes
the estimating, tracking, costing, and billing of projects easy and
manageable—simplifying cost control and planning. With the powerful
features of Project and Job Costing you can identify potential issues
and determine success factors for any project. Automated billing
streamlines customer invoicing, reducing the time spent managing
Project and Job Costing Capabilities
- Assign staff, material, subcontractors, equipment, miscellaneous
items, and overhead to each project within the contract.
- Set up complex estimates by specifying the quantity (e.g., hours),
unit cost, and billing rate (for timeandmaterials projects) for each
staff member, material (inventory item), subcontractor, equipment,
miscellaneous item, and overhead expense allocated to the project.
Assign cost categories and automatically calculate cost and revenue
estimates per cost category, or simply define the cost and revenue
estimates for each project category.
- Manage contracts or jobs to 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 industryspecific
- 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.
- Select the accounting method (revenue recognition method) for
each project within the contract. Choose from total cost percentage
complete, category cost 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.
- Assign each category to one of six cost types (labor, material,
equipment, miscellaneous, overhead, and subcontractor) to track
costs at a level necessary for your company.
- Assign as many as seven progress status categories to each contract
and project. Choose from estimate, approved, open, on hold,
inactive, complete, 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.
- Allocate overhead and labor burden to each category.
- Specify whether each transaction is billable, non*billable,
or no charge.
- Track, calculate, and automatically retain a portion of an invoice
to handle common billing practices in the construction industry.
- Automatically create the customer’s invoice based on the
transactions that are due to be billed. Review the generated billings
for the customer and make necessary changes before updating
- Transfer inventory items to a contract, project, and category
and bill the customer for the inventory used.
- Return inventory items not used in the project to inventory
for availability on other projects.
- As equipment is used within a project, record the cost and billing
rate (for timeandmaterial projects) of the equipment so you can
bill the customer for usage.
- Easily have employees 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 U.S.
or Canadian Payroll.
- Record miscellaneous charges such as service fees.
- Update revenue and cost estimates at any time with a full audit
of the changes.
- Choose when to recognize revenue, based on GAAP requirements
and your business needs.
- Review the current state of each of the projects through the
centralized inquiry capabilities. Review the project status, profitability,
and estimatetoactual comparisons.
- Drill down to the originating transactions