Product

Project Cost Tracking

Monitor and manage project costs, revenues, and budget for projects. Define projects and tasks, then populate projects with employees, resources, and equipment. Manage projects of any complexity across different project types and industries and roll costs up to financial reports.

How Project Cost Tracking can work for you

Seamlessly integrate with Acumatica General Ledger, Accounts Payable, Accounts Receivable, Inventory, Purchase Orders, Sales Orders, Time Management, and Advanced Expense Management modules to automatically track project costs and budget. Associate any document with a specific project for complete accounting for all activities and costs. Ideal for any industry including professional services organizations such as engineering firms, marketing companies, consultants, law firms, temp agencies, and many others.

Key Benefits of Project Cost Tracking for your Company

  • Total View of All Costs

    Get up-to-date information on all project costs, including completed work and work-in-process accounting. Track employee time, sub-contracted services, material, and inventory. Easily compare actual project costs with original and revised budgets by period. Continuously track budget execution and cost vs budget.

  • Billable Revenue Tracking

    Track future revenues as a project progresses. Accommodate complex pricing models with confidence in conjunction with Acumatica ERP.

  • Scalable for Any Type of Project

    Track all types of projects – large or small, internal or external, single or multi-currency. Acumatica offers mobile-friendly, fast, and convenient data entry and information access.

  • Available from Anywhere

    Make it easy for remote employees, installers, contractors, and others to submit work orders and timesheets from any browser-enabled device.

  • Labor Cost Rate Flexibility

    Define costs by employee, labor item, project, project task, and rate type, simplifying time entry and improving visibility, particularly for construction prevailing wage and union requirements. Expand integration with payroll and HRM systems with projects, tasks, cost codes and standard and actual costs using the Contract-Based API.

Important Features of Project Cost Tracking

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.

Resource Management

Assign project managers, employees, equipment, and other resources to projects and tasks. Establish billing rules and options for each task.

Project Material Management

Streamline the management of project materials, including receipts and issues for purchased materials. Create requisitions with approvals workflow and create purchase orders to ship materials directly to a project location.

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.

Change Orders

Improve project management by controlling changes to the project scope, including customer and internal requests. Create a change order with all the documentation, including the revenue budget, cost budget, commitments, and class.

Manage Project Quotes

Create quotes, update them, link them to CRM, track versions, and create projects.

Add Project Activity Directly

Easily add activities from CRM or import activities from external systems. As a result, information is integrated and used later in worksheets and billable data.

Allocate Expenses

Allocate overhead and shared expenses to individual projects according to formulas you create including billable and non-billable items.

Flexible Labor Cost Rates

Define costs by employee, labor item, project, project task, and the rate type, particularly for construction prevailing wage and union requirements.

Easy to Update Tasks

Easily add activities using Project Accounting or through CRM. All Acumatica modules are fully integrated.

Reclassify Project Costs

Simplify corrections based on general ledger account or subaccount, project or project task, and cost code.

Link Timesheets to Projects

Employees can enter timesheets in the employee portal or enter activities linked to projects in CRM. Both options link hours to specific projects and budgets.

Immediate Access to Payroll Costs

Access payroll costs as soon as they are posted from Time Management, rather than waiting to see them until after payroll runs have been processed.

WIP Support

Keep close track of accumulated but unbilled costs (work-in-progress) to help keep projects on budget. Acumatica adds control for billing against schedules without losing track of actual expenditures.

See what Acumatica customers are saying

"Users can get real-time information according to their specific profiles and make decision for their daily activities with more autonomy and accurate information. Acumatica is changing the way we work."
Juan Schotel, CEO
EOS Group
"Acumatica has definitely improved our ability to track our financial position. It’s also given us the ability to track the relationship we have with our customers and the open issues we have… Everyone in the company can see what’s going on."
Darren Wilson, Senior Project Manager
PracticeMax

Ready to put Acumatica to work for you?