ACCPAC International has released the ACCPAC Advantage Series 5.2 Project and Job Costing. This is designed to add new integration with Microsoft Project and more flexible accounting, budgeting, and ease-of-use enhancements.
Project and Job Costing shares the Web-accessibility features of all ACCPAC Advantage Series accounting modules and delivers the same freedom of choice in operating systems and databases.
Project and Job Costing provides small and mid-size businesses (SMBs) with the tools to manage simple or complex contracts and jobs. This latest release offers integration with Microsoft Project for improved controls, support for retainage accounting and budgeting capabilities for improved estimating and performance tracking. It also offers ease-of-use enhancements, including colour coding for project status and greater security.
Users can integrate the system with Microsoft Project for more control over scheduling with the flexibility to update data in either product. Start and end dates as well as quantities that are entered in Microsoft Project are updated in Project and Job Costing. Users can import or export contracts to and from Project and Job Costing. Synchronisation is also supported. Newly created projects and resources are synchronised between the products, as are changes to estimates and the task percentage complete status.
New support for retainage accounting enables businesses to improve cash flow analysis through accurate accounting of customers’ retained amounts in accounts receivable, accounts payable, credit notes or debit notes. This new feature allows users to manage any amounts retained on the original invoice and to automatically invoice as the retained amounts are due to be paid by a customer or to a vendor. Integration with ACCPAC Advantage Series Accounts Receivable and Accounts Payable modules provides access to Aged Retainage reports. The reports allow users to print an aged listing that identifies when retainage is due to be invoiced or is overdue.
Budgeting capabilities for improved estimating and performance tracking Users can now set up budgets for costs and revenues for each contract, project, and category of project. The increased budgeting flexibility assists finance and accounting departments in preparing rolled up budgets, revenue forecasts and a benchmark for project performance.
Enhancements throughout the software are designed to simplify processes, reducing time needed to track details and improving information retrieval for quicker decision processes. Among these features is new color-coding that provides instant status recognition of a project. In addition, the new Adjustments form provides a fast way to revise quantities as well as cost and billing amounts while the software automatically calculates adjustments amounts.
Timecard security can now be set up for each employee enabling system users to maintain their own time card records, securely. Clients will benefit by allowing employees to enter their own time cards, reducing the workload of system and project administrators.