Project Accounting
- Make Proactive Decisions by Tracking Real-Time Costs
The Sage MAS 500 ERP Project Accounting module supports best-practice project management while providing the unique ability to control projects with exceptional flexibility. It is a key component of Sage MAS 500, a highly reliable, robust, and integrated series of business applications that delivers a flexible, scalable, and full-featured total business management solution.
Project managers can track actual vs. estimated costs through forecast completion, which helps prevent cost overruns and generates bottom-line savings. The Project Accounting module’s detailed estimating function allows estimation of multiple cost types, giving users the ability to report and analyze data at multiple levels. Data-driven contract rates handle numerous and complex project rates, making it easy for project managers to control rate changes and profitability. As project scope evolves, Project Accounting permits changes to the estimated budget to increase forecast accuracy throughout project lifecycles.
Project Accounting allows project managers to optimize project profitability through appropriate project type selection—whether it’s time and materials, fixed price or both. The option to choose the most appropriate project type decreases project management costs by eliminating multiple project tracking systems. In addition, Project Accounting’s six GAAP-compliant profit recognition methods provide the power to control profit recognized over each period, resulting in a well-managed revenue stream. The ability to assign multiple profit recognition methods within projects provides strict profit recognition control on every project.
Project Accounting provides remote time and expense entry and project status inquiry from anywhere in the world through the Internet. With this capability, project managers and supervisors can obtain timely information about project profitability, while remote workers are assured their time and expenses are accurately tracked and entered.
