In this Acumatica Project Accounting for Contractors eBook, you will learn how Acumatica can Project accounting is essential to maintaining control of your budgets and resources,
generating timely and accurate billing, and establishing the profitability of all your projects.
Any project accountant can tell you that it’s the only way to manage project budgets and
resources. Project-based industries like construction—rely on project accounting to give them
accurate estimates, manage time and resources, generate billing, and, most importantly,
determine if the project was profitable.
While financial accounting is more interested in the company’s overall financial performance,
project accounting focuses on the financial performance of individual projects. Projects have specific start and end dates, and project accountants are concerned that the project meets the
financial contracts in place. They are responsible for estimating, forecasting, cost accounting,
revenue recognition, and cash flow processes of the project(s).
Acumatica Construction Edition is a complete, native, and cloud-based construction and
accounting software solution. This easy-to-use software includes powerful financials, job cost accounting, project management, payroll, inventory, order management, service management,
CRM, mobile, and more.
Acumatica Construction Edition helps by controlling changes to the project scope, including
customer and internal requests. Working in tandem with Project Managers, users can create
a change request that can be converted to a change order and attach electronic copies of all
documentation, including the request being made, the revised project plan, and reports showing
the impacts the change will have on the revenue budget, cost budget, and commitments.
Tracking requests and documentation within Acumatica Construction Edition ensures the project
budget is always up to date and accurately reflects resource allocations along with all revised
project team notes and documents.
Key Features in Project Accounting eBook:
