AcumatiCaresManage all project billing scenarios including cost plus, fixed price, time and materials, milestone billing, and contract specific pricing.
Product
Advanced Billing
How Advanced Billing can work for you
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.
Key Benefits of Advanced Billing Software for your Company
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Flexible billing
Handle the most complex project billing rules and easily calculate project revenue in multiple currencies based on key project-specific attributes.
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Fixed-Price and Cost-Plus Projects
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.
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Revenue recognition
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.
Important Features of Advanced Billing
Connected Modules
Project features are available in the General Ledger, Accounts Payable, Accounts Receivable, Sales Order Management, Purchase Order Management, Employee Portal, and Inventory Management modules. Other integrated applications include CRM, Manufacturing, and Field Service.
Project Tasks and Templates
Use templates to create new projects with preset configurations. Specify people, equipment, budgets, and project billing. Multiple users can work on multiple concurrent projects. Assign tasks for individual or global projects. Assign task billing rates by project, job role, and individual resources. Project budgets reflect expected revenues.
Flexible Billing
Handle the most complex project billing rules and easily calculate project revenue in multiple currencies based on key project-specific attributes.
Billing Rules for Fixed Price and Cost Plus
Improve billing accuracy and efficiency and maximize cash flow by defining project billing parameters to automatically generate invoices at the proper time. Manage complex billing rules and easily calculate project revenue based on key project-specific attributes. Define cost-plus and fixed contract Maximum flexibility by applying markup at the customer level and vary according to labor and service type.
Revenue recognition
Recognize revenue based on the percent of completion or based on completed tasks. All project revenue recognition rules are automatically reflected in general ledger journal entries.
Multiple rates
Configure multiple rate tables for specific projects or project tasks for additional billing flexibility.
Billing Periods
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.
Reverse Unbilled Transactions
Correct improperly applied charges with an automatic reversal and invoice regeneration capability.
Forecast Project Budget by Period
Enter and modify project budget forecasts and compare these forecasts with the actual project costs and incomes for each financial period.
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