Effective project accounting management keeps your business profitable and keeps you ahead of your competition. By maintaining control over your projects and budgets you can generate increased revenue at reduced costs, eliminate unproductive time spent on projects and improve bottom line savings. 

Project accounting must automate the recording of time and expenses associated with a project is essential for ensuring that projects are billed accurately and resource costs are monitored. The Project Accounting system offers a simplified way to submit, review, track and approve timesheets and expense claims. At the same time, it helps you control costs and time worked, consolidate timesheet information, and adhere to your organisational time management rules. For added flexibility it offers a web-based interface for time entry and approval.

Project accounting needs flexible tools in the software allow you to group your employees into a resource hierarchy, with employees who perform similar functions being grouped together. In addition each employee or group can be allocated a variety of different charge out rates, allowing you to charge out the same person or group at many different rates, depending on the project. 

Many companies have staffs who work off site; you need a project accounting system that makes it easy for these employees to submit information remotely, therefore removing the need for them to either send information into the office, or travel to the office.           

Project Accounting Information Analysis:

Key to efficient and profitable project accounting management is the ability to proactively review and monitor projects at any given stage. The Project Accounting system gives you the tools you need for an immediate view of the status of your projects, either grouped together or as individual projects. You can then use the flexible project views to define the information you wish to display and perform searches and drill downs on your data. The Project Accounting system is also equipped with many powerful enquiry screens, reflecting real time information which is presented in an easy to analyse format. The drill down and drill around functionality gives you access to information even down to an individual transaction level, and the enquiries and reports instantly display vital project data such as progress made, costs incurred, revenue received, budget variances and ultimately profitability. The Project Accounting system also offers powerful reporting functionality with the added flexibility of allowing you to design your own reports. In addition the information held in the Project Accounting module can be easily exported to excel for review and manipulation.