Project Accounting
OmegaCube’s project accounting solution provides you with a comprehensive accounting system that manages project-based budgets, inventory purchasing, accounting, manufacturing, and time reporting data.
Project accounting functions are integrated with order management, field service, purchasing, and production management, accounting, and inventory functions.
Key Features of Project Accounting
- Create tasks, sub tasks and manage due dates
- Manage task deadlines, milestones, assign to specific people
- Track time spent by employees
- Attach project documents
- User-defined project budget categories
- Assign budget categories to individual tasks, tickets, purchases, and work orders
- Compare budget to actual
- Create and manage multiple sales orders, change orders
- Define progress billing stages at each sales order level
- Bill based on time, expense or product shipments
- Implement revenue recognition
- Collect time and expense against each ticket on a project
- Specify billable or non-billable items
- Specify different bill rates for each type of service
- Itemize billing to customers
- Define purchased and manufactured items on a project
- Link purchasing and manufacturing data to a project
- Collect costs for purchases, manufacturing and outside services
- Create Pos, work orders with a simple click
- Specify budget categories for each item
- Perform comprehensive analysis of project profitability based on actual costs collected from different business areas including service, engineering, manufacturing and purchasing
- Collect miscellaneous project costs directly from accounts payable
- View profitability data by customer, projects, budget categories
Our Customers are Our Purpose and Our Strength
With OmegaCube ERP, we were able to decentralize the Accounts Payable process, eliminate siloed operating methods and easily delegate various parts of the AP process to relevant stakeholders. There was a lot of double data entry that we were able to reduce, thanks to the process decentralization.
When we spoke to our accounting department, they indicated that there has been almost 100% improvement in daily operations because everything is real-time and instantaneous. We are basically light years ahead of what we used to do manually. With OmegaCube ERP, we actually get accurate data of estimated vs. actual costs after a project is complete right at our fingertips.
I sit down every morning and look at a report which tells me how much I owe, how much I have coming in and helps me plan for incoming orders. It’s become an integral part of running my business effectively, efficiently and profitably, and we could add six more businesses without having to change our software.”
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FAQ
Accounting in OmegaCube ERP automates key accounting operations related to Accounts Receivable, Accounts Payable, General Ledger, Bank Reconciliation, Sales Tax, Credit Card transactions, Bank deposits etc.
Suppliers and Purchasing in OmegaCube ERP helps manufacturers to efficiently track and manage the entire flow of raw materials right from its suppliers to the warehouse, to the factory till the final product reaches the customer. It helps improve supplier relationships via continuous goods monitoring, quality control, data-sharing via EDI, and self-service portals for suppliers.
Manufacturing Execution System (MES) in OmegaCube ERP tracks, communicates and controls minute by minute updates of shop floor operations and manufacturing workflows. With technology integration such as Nesting, Machine Monitoring, Barcode & labeling, CAD, and Shipping applications, manufacturers can take proactive decisions based on comprehensive data update.
