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PROJECT COSTING

Keeping tabs on the course of jobs and projects couldn’t be easier

TRAVERSE Project Costing is both a time billing and a job costing application. It is a fully integrated TRAVERSE application that addresses the needs of companies tracking the progress of projects or jobs.

The general screens allow you to define the structure of the project and to make decisions about what type of project it is, how the project levels will accrue income and costs, and how billing will be handled. The cost screens provide actual project-to-date cost information compared to estimates. The profit screens provide actual project-to-date income, cost and gross profit information compared to estimates. The history screens provide income, cost, billing and write-up/down information on a month-to-date, year-to-date, and project-to-date basis.

TRAVERSE Project Costing lets you set up projects for billing at either the project level or the phase level. You can also have projects that are speculative in nature and change them to billable projects later. A simple entry screen gives you the ability to enter estimates at the project, phase or task level; it shows both the current estimates and the revised estimates.

Additional Project Costing Features:

  • set up Time and Material or Fixed Fee Projects
  • set up projects to accumulate administrative costs
  • assign different GL distribution codes to each project, phase or task level
  • assign different tax classes to each project, phase or task level
  • assign one of five different billing formats to time and material projects
  • assign up to ten diff erent cost and billing rates to each employee using user-defined descriptions
  • use the inquiry functions to obtain information about specific projects, phases or tasks and drill down for greater detail
  • enter time tickets using a time-saving batch processing capabililty
  • use Accounts Payable transaction entry to apply charges directly to projects or jobs
  • transfer materials directly from inventory to projects or jobs
  • gain better control of your work in process with automated billing of posted time and material charges
  • bill for deposits on projects
  • place billing holds on projects or phases
  • create credit memos for the Time and Material projects directly from the billing history file
  • apply deposits or advances directly against invoices in AR transaction entry
  • use the Purchase Order module to print POs and to track project costs from the time a purchase order is entered
  • transfer entries in the Purchase Order module to Accounts Payable
  • allocate overhead to projects, phases or tasks based upon accrued time or material
  • comprehensively write off charges for entire projects or phases
  • close projects, phases and tasks independently, restricting subsequent charges from being made to specific project levels
  • archive or purge closed projects from the system on a specific basis or by close dates
  • import project structures and estimates from MS Project
  • interface with TRAVERSE Payroll

Project Costing Reports:

Project Detail Report
Project Estimates Report
Project Status Report
Employee Detail History Report
Income Analysis Report
Profi t Analysis Report
Cost Variance Report
Billing History Report
Archived Projects Report
Time Ticket Journal
Open Order Report
Overhead Allocations Report
WIP Billing Worksheet
Fixed Fee Billing Worksheet
Held Projects and Phases Report
Fixed Fee Adjustment Worksheet
Fixed Fee Adjustment Journal
History Adjustment Journal
Comprehensive Write-off s Journal

Click here to see a list of all available TRAVERSE® applications