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Manage effectively with flexible project control
Excellent financial control of contracts and projects requires the ability to accurately drive all costs to projects in real-time so that revenue can be generated accurately in a timely manner. With De Facto® Job Costing Software, income and costs are accurately and easily accounted for and understood. The Costing module is multi-currency and the accounting periods into which income and costs can also be defined.
Process income, costs and time against the correct project
Sales invoices are specifically raised against projects. The project holds a detailed record of the value of costs and time which remains unbilled allowing accurate sales invoice calculation. Where direct time billing has been configured, time sheets can be set as separately chargeable and time then appears in a billing list for pre invoice review. Material costs can be “marked up” by a percentage or value when raising invoices. Time based activities can be specified as having both cost and charge rates.
Set time rates and process costs to multiple project levels
Activity costs and charge rates can be set at a project, customer, employee and system level in a hierarchy, whilst product costs of materials can be specified at a project, customer and system level.
Define project accounting to output multi-level information
The Job Costing Software system has a highly flexible nominal coding structure to the level of project and item code or activity type, for both income and costs. Nominal codes can also be created for individual employees, work types, employee groups and resources or down to specific project item code level.
Set additional analysis codes for meaningful reporting
Additional analysis codes can be set against each project to assist in meaningful reporting. This can be defined in three levels and can be used to tag projects, for example with project stage or industry information.
Value work in progress using actual, budget and commitment information
To assist in the preparation of monthly management accounts, costing information can be used for work in progress valuations. The Job Costing Software system gives project managers clear visibility of costs allocated to on-going projects, including accruals. Detailed budget information and purchase and sales order commitments held against projects allow valuations to include recoverability estimates.
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