Manage Complex Projects With Ease

Advanced Project Accounting is a specialist solution for managing projects, claims, variations, and revenue recognition, and the challenges of complex project operations within a modern Enterprise Resource Planning (ERP) environment.

Advanced Project Accounting delivers the depth and flexibility required by companies operating within complex project-based industries, such as aerospace and defense, construction, and project-centric manufacturing.

• Simplify and streamline your project accounting processes
• Enhance project forecasting and decision-making
• Improve project viability with effective cash flow management

Features

• Project Ledger and Journals - Capture and consolidate every transaction affecting a project in one central ledger - Enables easier and greater visibility of project related transactions and enables an excellent data source for reporting and reconciliation purposes - Easily manage the reallocation of costs to different GL accounts, project phases, and cost codes with a full audit trail
• Project Accruals and Revenue Recognition - Bulk generates accruals for review and modification prior to posting to the Project Ledger and the General Ledger - Recognizable by many methods including amount billed, progress percentage, cash received, costed, manual, and others - Cost and revenue recognition methods can be different for the same contract or project - Can be adjusted via manual journals as needed
• Project Budgets - Available at the phase and cost code levels, with revision tracking - Can be spread across fiscal periods for expense/cashflow forecasting and management - True ‘time-phased’ view of projected expected costs and capture of actual costs - Capture and monitor Baseline, Revisions, Approvals/Status - Enable better planning, forecasting, and management of project costs
• Project Analysis - Review transactions and commitments against budgets at the project phase and cost code level - Monitor actual progress against expectations - Review CPI (Current Performance Index) as key metric - Extrapolate VAC (Variance at Completion) to forecast potential issues - Compare actual progress against contract progress billing

Benefits

• **Leverage the Power of the Kinetic Platform: **Built seamlessly within the Kinetic Platform, Advanced Project Accounting offers a native integration experience. This means all your data resides securely in one central location, eliminating the need for disparate systems and data integrity. - Familiar user interface - Easy on-boarding, short learning curve - Create your own custom dashboards - Develop business process workflows
• **Gain Complete Control Over Your Project Accounting: **Simplify and streamline your project accounting processes, track and manage projects at a subledger level with controls to help capture all costs and revenues. - Leverage many of the existing time and expense management features for employees and equipment - Tap into existing capabilities for project-based materials management - Plan project budgets accurately - Analyze and report confidently on all projects
• **Work With More Precise Project Data: **Advanced Project Accounting extends the six fundamental cost categories available in Kinetic, to add an additional three configurable levels to your Cost Breakdown Structure (CBS). This ability to define a CBS in a more flexible and granular manner enhances the visibility and management of costs, and enables a more effective way to define and monitor budgets, that can ultimately help to improve business performance through stronger project costs management. - User-definable for flexible budgeting and cost analysis - Automatic matching/allocation of costs to cost codes based on analysis code, charge type, part class, and role transaction attributes - Helps provide a valuable middle-level between the high-level phase and the low-level individual transaction/cost budgeting and management