Project and Job Costing

Project and Job Costing 5.4 features:

• Allow Project and Job Costing Fixed Price projects to be billed using a summary or item invoice.
• Automatically post General Ledger journal entry batches created from Project and Job Costing.
• Automatically post Accounts Receivable invoice batches created from Project and Job Costing for billings.
• Take control of labor costs using Payroll and Project and Job Costing integration.
• Use enhanced reporting features for audit lists, transaction lists, posting journals, committed costs reports, and contact information for each project.
• Specify a customer’s tax group for each contract and project.
• Enter miscellaneous costs directly to a contract, project, and category.
• Add a new category and resource to a contract’s project at any time.
• Update customer receipt balances when a refund is issued to the customer.
• Specify the fiscal year and period when recognizing revenue and creating a billing worksheet.
• Use enhanced integrity checker to verify that P/O committed amounts equal those displayed in Contract Maintenance. Also Check A/R, A/P, P/O, UP, CP for job-related entries in which contract/project is closed/ completed/estimate.
• Post transactions and select which status types (approved, entered, etc) to post.
• Specify material allocation for current quantities and the amount (qty/cost and related billing) that is actually used.
• Print A.I.A Documents G703 and G702.

Project and Job Costing 5.3 features:

• Define and use all the optional fields and values you require within your costing system. The new Transaction Analysis and Optional Field Creator application is required.
• Create billing invoices by customer, contract, or project.
• Print the new Detailed Transactions report for a listing of all cost and billing transactions.
• Select the default cost and billing rate (if applicable) to use for Timecard transactions. For standard contracts, choose to default the unit cost and billing rate (if applicable) from the Project and Job Costing employee record or from the employee resource category. For basic contracts, choose to default the unit cost and billing rate (if applicable) from the Project and Job Costing employee record or from the category. Note that if the employee is a Canadian or U.S. Payroll employee, the unit cost will be defaulted from the earning code specified.
• Clear revised estimates in Clear History.
• Select from three additional choices when creating billing invoices in Accounts Receivable. You can now have the Accounts Receivable invoice detail description and comment updated with the contract description, project description, or category description.
• When recognizing revenue, include Fixed Price projects with no costs. You can then specify the percentage complete so that any revenue recorded for the project can be recognized.

Benefit from the integration with Purchase Orders version 5.3B to track committed and actual quantities and costs.
Note that the Purchase Orders and Project and Job Costing integration will not be included with the initial release of version 5.3 and will be released as version 5.3B.ick to Print This Page