Software Overview
Setting up Projects
A simple Project Maintenance screen allows you to set up an unlimited number of projects to track your project activity. Projects may be easily edited/updated in this screen as needed.
Setting up Budgets
Budgets can be created for each project quickly, making it easy to analyze how the project is progressing as the actual work is completed. If you have budgets that are adjusted during a project, the system easily accommodates any changes you need to make. You can compare actual time to budgeted time to have an accurate view of how the project is progressing.
Setting up a Work Breakdown Structure (WBS)
Work Breakdown Structures, or tasks, can be individualized by project and provide an easy way to organize and track your projects. You can budget and record time down to the WBS level to get a good understanding of your projects and ensure they are progressing as desired.
Entering Timesheets
Effective time tracking is a key to managing cash flow and profitability. With the time sheet entry application, we allow each employee to easily enter their time. By delivering Beyond Software’s project management software via the web, employees can enter their time whenever they are connected to the web instead of waiting until they are back in the office. Once entered, the time can be immediately routed for review and approval. This provides you with the opportunity to shorten your billing time and catch errors early. Erroneous entries may be easily rejected back to the employee for a quick correction and then resubmitted for approval.
Entering Expense Reports
For projects that require expense tracking, Beyond Software’s project management software offers an easy way to enter your expenses. Our expense entry application allows an employee to record expenses quickly directly to the project. By delivering Beyond Software’s project management software via the web, employees can enter their expenses whenever they are connected to the web instead of waiting until they are back in the office. Once entered, the expense report can be immediately routed for review and approval, keeping the invoicing process moving and leading to better cash management.
Entering Project Transactions (non T&E entries)
Occasionally you need to adjust a project quickly and still have an audit trail of the changes made. The project transaction screen allows you to make adjustments in a fast and simple way.
Look up Project Progress
As a project progresses, you want to be able to see where the project stands in real-time. With our project consoles, you can see hours and expenses charged to a project as soon as they are approved. The project consoles allow you to look up information you need and sort the information as desired to keep the project on target.
For a brief Demo, click here.
Revenue Recognition
If you invoice projects in a month other than when the work is performed, chances are you are experiencing wide swings in monthly revenue reported in your financial statements. Additionally you may not be in compliance with Generally Accepted Accounting Principles (GAAP). To properly match your revenue and expenses and show a true picture of your financial performance, you need to make a manual journal entry. Determining the amount of the entry can be time consuming and subject to errors. If you don’t make the entry, your financial statements aren’t showing the true state of your projects, distorting your view and impacting your decision making. Beyond Software’s project management software automates revenue recognition. At any point, you can review your projects and determine how much revenue should be recognized. The result is an automatic entry that has your revenue and expenses showing a true picture of your project profitability.
