Acumatica Project Accounting

Why Choose Acumatica for Project Accounting?

Acumatica Cloud ERP Project Accounting seamlessly integrates with General LedgerAccounts PayableAccounts ReceivableInventoryPurchase OrdersSales OrdersTime 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.

How Acumatica Project Accounting Can Benefit Your Business

  • Track Project Costs

    Gain a complete view of project-related costs for materials, labor, services, and inventory items.

  • Flexible, Accurate Billing

    Vary billing rates by employee / customer, type of work, or specific project. Recognize revenue based on completion percentage or task progress.

  • Budget Reporting

    Compare actual project costs with original and revised budgets and forecasts by period using real-time reports. Include all project costs: inventory items, non-stock items, labor, services, and more.

  • Control 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. Define your workflows and approval processes, and release change orders with full business intelligence visibility and audit trail control.

Acumatica Project Accounting Suite Mobile
  • Manage Project Quotes

    Simplify project sales and pricing by supporting complex quote processes, improving project control and management. Create quotes, update them, link them to CRM and track versions. When approved, create projects and provide billing details.

  • Company-Specific Financial Periods

    Companies within the same tenant can have different fiscal year-end dates, important for companies that share vendors, stock items, and employees. The company-specific periods are defined at the branch level.

  • Multi-Currency Project Accounting

    Enter project transactions in different currencies and maintain projects in both the base currency and the project currency. With multi-currency project accounting, project managers and accountants can review actual revenues, actual costs, and committed costs in the project currency, with an ability to calculate project profitability in both the project currency and the base currency, and present costs to the customer in the customer’s currency.

  • Revenue Recognition

    Define billing rules to recognize revenue using the percentage of completion or the completed tasks method. All recognition rules are automatically reflected in the GL journal entries.

Acumatica Project Accounting Solutions

Project Cost Tracking

Create a central repository, fully integrated, with analysis and real-time reporting power.

Advanced Billing

Automate invoicing and manage collections.

Time Management

Manage liabilities and payments for goods and services.

Advanced Expense Management

Direct financial reporting, payments, cash management, and inter-entity transfers among multiple entities.

Ready to Take Your Business to New Heights?

Contact us today to learn more about how Summit Business Systems can partner with you to provide exceptional and reliable ERP solutions for your business.