INTELLIGENT PROJECT ACCOUNTING
MYOB Advanced Cloud ERP is the perfect solution for professional services organisations, like engineering, marketing, law firms and not-for-profits, to manage complex projects with ease. With Advanced, you can track and report on projects, tasks and budgets while automating project billing. The pre-defined allocation and billing rules engine ensures accuracy and consistency. Additionally, you can allocate transactions and costs from other Advanced modules directly to projects. Employees can even enter time and expenses from any mobile device via the MYOB Advanced OnTheGo app.
"I think it’s made collaboration on the project so much easier because there is transparency into all the costs so there is no doubt or reason for mistrusting information.”
Project Accounting Features
MYOB Advanced helps you make better resource decisions with project accounting
- Financial Management
- Project Accounting
- Project Cost Tracking
- Advanced Billing
- Time & Expense Management
- Customer Management
Full suite of financial and budgeting features and reporting including general ledger, support for multi-currency and multi-company, fixed asset management and managing and understanding your cash position with cash flow forecasting and reporting.
Features within Financial Management include:
• General Ledger
• Accounts Receivable
• Accounts Payable
• Cash Management
• Currency Management
• Bank Feeds.
Manage budgeting, inventory, change orders, timesheets, billing, profitability, and reporting for individual business initiatives. Projects are included in company-wide financial reports with full multi-currency support.
Features within Project Accounting include:
• Project cost tracking
• Advanced billing
• Time management
• Advanced expense management.
PROJECT COST TRACKING
Automatically track project costs and budgets in a system that seamlessly integrates with your financials. You can populate certain projects with employees, resources, and equipment, and you can even associate documents with specific projects for comprehensive management.
Complete cost view
Real-time updates allow you to see current expenditures, and committed purchases and track employee time, sub-contractors, materials and inventory. You can even compare existing
project costs with original budgets to continuously monitor execution.
Track projects regardless of size, currency, or language; with convenient data entry and information access.
Billable Revenue Tracking
Predict and track future revenue throughout a project’s progression, accommodating complex pricing models along the way.
Access and submit timesheets and work orders online from any device at any time.
Manage complex advanced billing scenarios and multiple variables at once -including fixed price, cost plus, milestone billing, contract-specific pricing, and time & materials. You can then choose to modify rates by employee, account group, type of customer, project task and more.
Flexible Advanced Billing
Easily handle complex billing rules with a flexible system built to manage your business needs. You can even use project-specific attributes to calculate project revenue.
Choose how best to recognise your revenue – based on percentage of project completion, or task completion.
Fixed-Price and Cost-Plus Projects
Experience flexibility in your invoicing, with options between fixed price or cost-plus dependent on the project and contract requirements. You can also cap billing on cost-based projects.
TIME & EXPENSE MANAGEMENT
Ensure accurate client billing every time with simplified time and expense entry processes. Use the MYOB Advanced Business mobile app to manage entries and approvals anywhere, at any time – giving you more accuracy and control over your project time management and tracking.
Expense Claim Processing
Submit expense claims with attached receipts and supporting documents – all via your mobile app. Send claims through a predefined approval process and see all your transactions reflected in your software.
Easy Mobile Entry
Allow employees and contractors to record time and expenses via the mobile app and choose to route reports to a manager’s device for approvals. Employees and contractors can even attach photo receipts of their expenses.
Customer, Contract, and Project Time Tracking
Specialists for specific implementation roles under the direction of the lead consultant, involved for all or part of the project.
Integrated Customer Relation Management (CRM) system for managing leads, contacts, opportunities, and customer accounts.
Features within Customer Management include:
• Sales automation
• Integrated marketing
• Service and support automation
• Customer self-service portal.
Visit our Customer Management Page for Demonstrations
Support for multiple unions, locals, classes, benefits packages, and complex wages, as well as certified wages and executive compensation.
Take your project accounting to the next level with MYOB Advanced.
Streamline your project-related costs and get a complete view of your projects with our comprehensive project accounting solution. Book a demo today and see how MYOB Advanced can help you manage complex projects with ease.