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Project Costing - Key Benefits

Main Function

Description of Features
Supports single phase projects and multi-phase projects

InfoProject allows you to divide a project into several sub jobs. This can be useful for large scale projects that need to be broken down into several stages, phases or simply into smaller more manageable jobs. Multi-phase projects can also be used to handle Revision Orders and amendments. Each sub job will have it's own contract sum, estimated costs, budgets and data capturing.

For multi-phase jobs, InfoProject allows the users to view the details of each sub job as well as the consolidated figures for the main job.

User definable cost elements Define up to 9 types of cost elements in the system. Each cost element can in turn be charged to many different costs of sales account entries in the G/L.

Maintain Progress Bill contents easily InfoProject makes use of a template to enter the progress bill contents. This allows the user to generate the next progress bill effortlessly without the need to retype the bill contents.

Generate Recurring Bills automatically (optional feature) InfoProject has an optional feature to allow the generation of recurring invoices. This would be useful for companies that provide maintenance services and rental services. At the end of each month, the system will generate the next recurring invoice automatically. This ensures that no recurring invoices are missed out monthly.
Automatically compute unearned income (optional feature) InfoProject has an optional feature to allow automatic computation of unearned income. This is useful for maintenance/ service contract related companies that require a pro-rated calculation of earned and unearned revenue.

Manage Cost/ Expenses easily InfoProject allows you to define budgets for each of the cost elements. By comparing the budgets with the actual cost incurred, you will be able to monitor closely the profitability of the project and be alerted for any cost overruns.
Capture project information automatically All cost, sales, expenses information will be captured immediately and automatically into the InfoProject module for convenient analysis and effective decision making.
Capture purchase committed amount automatically All purchased orders raised for non-stock items with project code defined will be reflected as Purchase commitments. This will allow the project staffs monitoring the project to manage the budgets effectively and prevent any cost overruns.
Online real-time Project decision Making InfoProject's Job summary and transaction screens provide the project staffs and management with a snapshot view and a detailed view of the project progress, cost and gross margin information.

Current Job : Users are able to view the status of each job with the supporting detailed cost and/or sales transactions

Historical Job : Users are able to view the status of each historical job with the supporting detailed cost and/or sales transactions
Automatic P/L realization (optional feature) InfoProject supports different methods of P/L realization depending on the business nature. They include monthly realization, upon job close basis or immediate realization method. Monthly realization allows the realization of cost collected by actual sales done. InfoProject will automatically calculate the realized cost and update the corresponding G/L Accounts. It will also maintain a separate Work In Progress (WIP) account to keep track of all the unrealized cost amounts.
Automatic generation of G/L entries All journals relating to WIP will be generated automatically and posted to the G/L module at the end of each month.
Full Audit Trail InfoProject support a full audit trail listing for all transactions in the Project. This allows you to monitor closely the transactions done and the corresponding personnel that effected the transaction.
Full Integration to all modules InfoProject is integrated to all modules in the InfoMaster ERP Suite. This would include the Inventory, Purchase, Sale, Accounts Receivable, Accounts Payable, Cash and General Ledger.

Read the InfoProject Module writeup

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