Project & Job Costing
Project and Job Costing is an integral part of an ERP System. It delivers the tools necessary to manage the simplest to most complex contract or job and makes the estimating, tracking, costing, and billing of projects easy and manageable-simplifying cost control and planning. With the powerful features of Project and Job Costing you can identify potential issues and determine success factors for any project. The automated billing features in this job cost accounting software streamline customer invoicing, reducing the time spent managing this process.
Project and Job Costing Capabilities
- Assign staff (full time and seasonal workers), material (diesel, pesticides, fertiliser) equipment, miscellaneous items, and overheads to each project/lot
- Set up complex estimates by specifying the quantity (e.g., hours), unit cost, and billing rate (for time-and-materials projects) for each staff member, material (inventory item), subcontractor, equipment, miscellaneous item, and overhead expense allocated to the project. Assign cost categories and automatically calculate cost and revenue estimates per cost category, or simply define the cost and revenue estimates for each project category.
- Choose when to recognize revenue, based on GAAP requirements and your business needs.
- Update revenue and cost estimates at any time with a full audit of the changes.
- As equipment is used within a project, record the cost and billing rate of the equipment so you can accurately calculate real cost of equipment usage.
- Manage contracts or jobs to three levels-contract (job), project (phase), and category.
- Maintain multiple projects or phases within each contract and track multiple categories within each project.
- Maintain multiple contracts or jobs per customer.
- Choose from three different project types-time and materials, cost plus, and fixed price.
- Select the accounting method (revenue recognition method) for each project within the contract. Choose from total cost percentage complete, category cost percentage complete, labor hours percentage complete, billings and costs, project percentage complete, completed project, or accrual-basis.
For more information regarding our Project & Job Capabilities, please contact AccTech Sales Division on Tel: +27 12 640 2600 or email: email@example.com