Accounting Seed has built job costing directly into the General Ledger. This makes tracking the financial progress of customer engagements and events very easy to do. Please visit the Projects section of this knowledge base and Accounting Seed University for more comprehensive training.
Projects are used to track a customer engagement or events, they are used to aggregate Revenue and Expenses together so you can report on the profitability of the Project.
- Projects can have one or many Project Tasks that serve as a sub level to also aggregate Revenue and Expenses together for reporting purposes.
- Budget information can be stored on the Project Task and rolled-up to the Project level. This data is useful for budget vs. actual reporting on a Project or Project Task level.
- You can establish Project templates, which are then used to set up Projects quickly from an Opportunity using Create Project. This provides the ability to measure similar projects in the same structure so reporting is consistent and meaningful.
You can enter their time worked in a weekly Time Card. This is useful for Project-based organizations who need to track labor cost as part of their expenses.
- To populate a Time Card, you must have a Salesforce license and there must be a Project and Project Task setup before the user can charge their time.
- A Time Card Period has 7 days and can only have one Time Card per User.
- A Posted Time Card can be converted into a Billing by using the Bill Time Card button. This allows you who invoices for their time to convert their Time Cards into customer-facing Billings.
- Billing rates can be assigned at either the User, Project, or Project Task level.
- A Time Card can have both internal and invoice comments for each entry of time.
- Most customers who use the Time Card functionality also enable Salesforce Approval processes to allow for routing the Time Cards for approval.
- A Time Card is posted to create labor costing entries directly into the general ledger.
- A Time Card can also support overtime costing and overtime Billing.
- A Time Card can be used to track either budget or actual data and can be cloned from a previous Time Card.
Accounting Seed supports labor costing from either the Time Card entry or from a Payroll Journal Entry.
- Typically, customers elect to use the Payroll Journal Entry to record actual payroll expense and then rely on the data from the Time Cards to show cost data in project job-costing reports and project profitability reporting.
- Accounting Seed supports hourly, salary, and overtime labor costing, for each user.
- It is possible to record cost either on an actual basis or with the burden built in, this is a determined at the time of labor cost entry.
You can enter an expense report recording expenses they have paid for out of pocket and require reimbursement.
- An expense report can have many lines for many different types of expenses and requires a Project and a Project Task to charge the expense against.
- Most customers who use the Expense Report functionality also enable Salesforce Approval processes to allow for routing the Expense Reports for approval.
- An Expense Report can calculate the amount to be reimbursed based on a standard amount per mile for personal mileage expenses.
- An Expense Report can also provide a limited, user-friendly list of GL Account codes to the user to choose from while entering their expense data.
- An Expense Report Line(s) can be converted into a Payable to the User by clicking the Create Payables button.
- An Expense Report Line(s) can also be converted into a customer Billing for the case when the expenses are to be reimbursed by their customer.
- An expense markup can be assigned at the Project or Project Task level for ease of Billing.