Project Costing

The Project Costing module allows you to perform activity-based accounting, and properly establish a Project Costing accounting system. Projects within the Project Costing modular defined as an identifiable piece of work for which costs (and revenues) are to be tracked. An unlimited number of tasks (further breakdowns of a project) can be attached to a project. This module features many inquiries and reports, allowing you to judge the profitability of a project.

Some of the features and benefits of this project include:

• Project Tracking - You are able to track any activity within a project by setting up tasks. Tasks are sub-categories of a project, and a project may consist of one or many tasks. A task field allows you to format any task to fit your needs. Tasks must then be marked as pending, in progress, or complete by your staff members. Projects can be grouped and classified for compliance to reporting requirements.
• Cost (and Revenue) Tracking - Projects and their associated tasks can be posted in any applicable module, including the General Ledger, Payroll, Accounts Payable, and Inventory modules. When a transaction is posted in any module, project costs are automatically updated, eliminating manual and duplicate data entry.
• Additional Features:
  • Projects can be associated with a miscellaneous A/R customer.
  • Budgeted amounts can be entered on a per project and task basis. This allows you to compare actual amounts to budgeted amounts.
  • Projects can be setup for a defined time period, or can carry forward from year to year.
  • Original transactions are stored for inactive projects, allowing historical reporting.
  • Reports include project lists, project charges (cost and revenue), profit/loss statement per project, and others.
  • Complete activity-based costing functionality via user defined project/task designations.