As your professional services firm continues to grow, you need to find new ways to streamline back office processes and manage resources more efficiently in order to handle the increased workload. Third Wave’s Project Accounting Suite (PAS) integrates seamlessly with SAP Business One to provide you with a solution that enables you to easily manage the business processes in the project lifecycle. From estimating, project set up, and time & expense reporting to project billing, revenue recognition, and project reporting, PAS helps you meet your customers’ expectations while improving project visibility.
View the Project Accounting Suite Web Time Expense Entry overview
Key features include:
- Increased project visibility, reporting and analysis
- Web-based employee timesheet and expense entry
- Approval processing for time and expenses
- Steps to review and edit draft invoices prior to invoice creation
- Multiple revenue recognition options
- Manage time and materials or fixed price projects
- Employee expense processing through to an accounts payable invoice
- Quickly set up new projects using project templates
Gain Increased Visibility across All Projects
By using PAS to gain better insight into your projects, you can determine where to focus business development, create accurate forecasts, and make adjustments as needed. You’ll be able to monitor project performance via real-time alerts, queries and reports that provide the invaluable business information you need.
You have the ability to customize any of the reports or create new ones. Additional analysis can be performed using:
- Standard reports
- Crystal Reports
- SAP queries
- Charts and dashboards
- Third Wave’s APP Portal for Web-based reporting, providing your employees, customers and vendors with real-time visibility
Give Your Staff More Tools to Contribute to a Project’s Success
PAS helps you meet the challenges that professional services firms face by giving you the tools needed to succeed. You’ll gain more control over your projects and increase profitability by streamlining your front and back office processes. For example, PAS makes it easy for you to set up new projects while using your own customized project coding and Work Breakdown Structures (WBS) so you can keep working the way you want. You can create your own tasks and sub-tasks for each project, complete with their own budgets, billing codes, GL accounts and notes. You then have the flexibility of assigning rates and resources depending on the task. This helps you capture all of the project costs in real time.
A Faster and More Accurate Way to Track Time and Expenses
Your employees will easily be able to enter their time and expenses for a project from any location with Web access. Once entered, this information can be automatically routed to delegated approvers who can either approve or reject the entries. This provides you with more control so you can focus on delivering the project on time and within budget.
Manage Your Projects from Estimation to Completion
PAS gives you the functionality to help win new business by providing you with the tools to create accurate estimates. Once approved, PAS will help you progress through the project, keeping track of time, materials, overhead and other expenses to create the most accurate billing until a project is successfully completed.
Create Accurate and Auditable Invoices that Are Automatically Delivered to Your Customers
PAS can instantly process project details with the matching billing code, determine hours worked and the billing rate, and set up earned billing to automatically create an invoice. You can run scheduled billing periods to generate an invoice and have it automatically sent to your customer for payment. You can then capture the project accounting data, post accrued expenses and write WIP (work in process) entries to the SAP General Ledger from PAS. The invoices are auditable so you can drill down to view the breakdown of all charges and account for the work completed.
Integrate PAS with Third Wave’s Advanced Productivity Pack to Add Even More Capabilities
By integrating PAS with Third Wave’s Advanced Productivity Pack (APP), you’ll gain additional functionality, including the ability to add your own business rules & validations, add your own charts & dashboards, and email reports and invoices using APP’s document delivery feature.
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