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Project AccountingIndustry Solutions
Project Accounting
IFCA SoftwareTM for PROJECT ACCOUNTING
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IFCA SoftwareTM for Project Accounting is a comprehensive Project Cost Accounting and Profitability Analysis solution. It is designed specifically for companies engaged in managing their businesses by individual contract basis and requires tools to help to manage and report their contracts by individual project profit & loss. It tracks all project revenue and cost in detail, including committed cost on a cumulative real-time basis.
This fully web-based solution is designed to track the financial progress of each project over the life of the project and segmented into its respective reporting periods. Such financial information will be extensively utilized by managers in your organization to supervise project management effectively and efficiently.
In a typical project management environment, both direct & indirect costs and revenue need to be allocated to each project. These will be sub-divided into a Work Breakdown Structure (WBS) and grouped into project hierarchies for accounting and reporting purposes, making reporting at any levels possible and allowing comparison of historical data as well as current budgets.
Project Accounting (incorporating job cost accounting) is the ideal solution for any contract or project based companies looking to manage individual project profitability and cash-flow.
Project Accounting (incorporating job cost accounting) is the ideal solution for any contract or project based companies looking to manage individual project profitability and cash-flow.
The key functions are:
Unlimited level and number of cost codesUnlimited level of project structure / hierarchyDefine project cost estimates and budgets by cost codesRoll-up or Roll-down of cost apportionmentsFlexible budgeting capabilitySupport multiple versions of budgets for comparisonAllow users to update project progress onlineFacilitates Commitment Cost AccountingAutomate and track retentions, project deposits or advances.Automatic computation of project Profit RecognitionMonitor project cash-flow
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