Project Accounting
Manage budgeting, inventory, change orders, time sheets, billing, profitability, and reporting for individual business initiatives. Projects are included in company-wide financial reports with full multi-currency support.
How Project Accounting can work for you
Powerful accounting tools, seamless integration
Acumatica’s Project Accounting Software is fully integrated with Acumatica ERP, ensuring everyone is viewing the most up-to-date information available. Direct integrations with:
Key benefits of Intercompany Accounting for your business
Track Project Costs
Gain a complete view of project-related costs for materials, labor, services, and inventory items.
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.
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.
Flexible, Accurate Billing
Vary billing rates by employee / customer, type of work, or specific project. Recognize revenue based on completion percentage or task progress.
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 attached. Define your workflows and approval processes, and release change orders with full business intelligence visibility and audit trail control.
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.
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. Deferred revenue and recurring revenue models are supported out of the box.
Multi-Currency Project Accounting
Enter project transactions in different currencies and maintain projects in both the base currency and the project currency.
Project Accounting Applications