Go to the Project Accounting Microsite
The delivery of project financial information to managers and practice partners can be difficult for many construction practices to achieve. All too often, accounts and projects teams have to amalgamate cost, forecast and fee data from disparate systems, and re-key in to spreadsheets to provide an understanding of current and projected job running performance.
Workspace™ Project Accounting addresses these problems, by driving the key processes that support the commercial running of a practice through a single intuitive interface. Fee earners, project managers, accounts teams and directors can all work within a secure and integrated database environment to access the right information, in the appropriate format, when required. The module can operate stand alone to deliver project financials, or integrated as part of the more comprehensive Workspace™ practice management solution.
Project Accounting includes a variety of functions to support time and expense capture, fee and cost forecasting, invoice production, cost to complete and work in progress reporting. The emphasis of this module is on simplicity and ease of use, but with the support of drill through analysis to underlying detail as required. The addition of project performance indicators and graphical reports, combined with seamless integration to your existing accounting package ensures everyone is connected to the live position of the project.
Many customers in the construction supply chain use Workspace as a “portal” through to their existing ledger systems driving out key financial information and delivering it on-line to managers’ desktops through the framework. If you already have a well established project accounting system in place then Workspace can simply sit alongside this existing investment. Information exchange between the two systems is facilitated in an auditable manner via the Workspace™ Ledger Connector module.
Key Features:
- Weekly Timesheet collection & expenses management.
- Integration with Workspace Holiday and Leave.
- On-line timesheet and invoice approvals.
- Resource forecasting and utilisation planning.
- Fee Forecasting.
- Invoice production & credit control.
- Cost to Complete & Work in Progress Reporting.
- Ledger Connector (for accounting package integration).
- Management reporting through the advanced search framework.