Sage 300 – Project & Job Costing

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Project and Job Costing Capabilities

  • Assign staff, material, subcontractors, equipment, miscellaneous items, and overhead to each project within the contract.
  • 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.
  • 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.
  • Change contract, project, and category names to match industry specific terminology.
  • Maintain multiple contracts or jobs per customer.
  • Use as many as five segments in your contract numbers to represent types of contracts and divisions.
  • Easily navigate through the projects and categories within the contract using the optional tree view.
  • 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.
  • Mix and match the project types and accounting methods for very complex or simple projects.
  • Assign each category to one of six cost types (labor, material, equipment, miscellaneous, overhead, and subcontractor) to track costs at a level necessary for your company.
  • Assign as many as seven progress status categories to each contract and project. Choose from estimate, approved, open, on hold, inactive, complete, and closed.
  • Close a project to billings and /or costs at any time.
  • Automatically override General Ledger revenue account segments for each project and cost account segments for each category.
  • Allocate overhead and labour burden to each category.
  • Specify whether each transaction is billable, non*billable, or no charge.
  • Track, calculate, and automatically retain a portion of an invoice to handle common billing practices in the construction industry.
  • Automatically create the customer’s invoice based on the transactions that are due to be billed. Review the generated billings for the customer and make necessary changes before updating Accounts Receivable.
  • Transfer inventory items to a contract, project, and category and bill the customer for the inventory used.
  • Return inventory items not used in the project to inventory for availability on other projects.
  • As equipment is used within a project, record the cost and billing rate (for time and material projects) of the equipment so you can bill the customer for usage.
  • Easily have employees manage their time and billing records from any location (on site or at the office) by entering timecards using an Internet browser.
  • Record miscellaneous charges such as service fees.
  • Update revenue and cost estimates at any time with a full audit of the changes.
  • Choose when to recognize revenue, based on GAAP requirements and your business needs.
  • Review the current state of each of the projects through the centralized inquiry capabilities. Review the project status, profitability, and estimate to actual comparisons.
  • Drill down to the originating transactions

Paper and Spreadsheets are Slow and Error-Prone

Like many project managers, you probably spend tons of time trying to get a handle on what your actual project costs are. You need to know what materials and costs have been ordered or delivered and who has been billed. Not to mention tracking other resources, such as time spent on each project or job. If you’re currently managing projects and jobs manually, juggling a variety of spreadsheets and paper, you’re already setup for failure and project costs are probably spiraling out of control.

But there’s better way …

Technology to the Rescue

Sage 300 Project and Job Costing makes it easy for you to estimate projects, enter and
report costs, and track billings, payments, and profits – with powerful features that enhance efficiency, improve accuracy, and give you better control over any project, big or small, simple or complex. And with tight integration into the Sage 300 financial and accounting modules, you never have to enter data more than once and you get extensive, comprehensive reports at the click of a button.

With Sage Job Costing, you get efficient and effective project and job costing without breaking your budget or straining your internal resources. Plus, you get tools and reports to dramatically streamline projects and the insight you need to control costs and boost profits.