Optimise your inventory management and cut costs with the NetSuite Advanced Inventory module
Integrated financial solutions
NetSuite Advanced Project Accounting provides professional services firms with more integrated financial solutions for keeping control of projects from creation to completion. More effective management tools mean firms can automatically track progress and budgets, while detailed reports ensure you always have the most important information available.
Customised tailored solutions
The solution can manage multiple types of projects, including time and materials, fixed price and cost plus projects. It’s tailored dashboards can also be customised to the needs of each role and organise tasks and events to ensure they are always linked directly to the right projects.
Key Area Functionality
NetSuite Advanced Project Accounting is able to provide businesses with much more accurate estimate for expenses such as labour, based on the number of hours entered and the loaded cost rate for each employee. It is also able to anticipate billing amounts from sales orders linked to the job, so finance professionals can always stay on top of their expected costs and revenue for each project.
The ability to quickly and easily track actual costs for completed jobs also makes accountancy processes more streamlined. NetSuite offers a one click solution to track salaried workers and hourly payroll staff’s contributions, which can be allocated to the jobs they worked on based on the time they entered. This provides far more accurate financial reporting to determine how profitable projects are.
Records for all project jobs include details such as start and estimated end dates, percentage completed and all associated income and expenses for a full overview of what is happening within a project. A range of reports offer further details on areas such as employee utilisation, any current backlogs and estimates for the profitability of each job.
Automated job creation tools
Estimate labour costs and revenue
Manage multiple projects
Track time taken for each job
Bill customers directly
Improve visibility and measure performance