Acumatica Project Accounting manages projects consisting of tasks, subtasks, resources (people, tools,..) , cost of labor and parts/items, tracking project actual times and costs against planned/budgeted times and costs.
Normally when you quote a project, you you list your parts and labor (tasks) first, and then you include the costs of the parts, and estimate the time of each task. Estimating the time of the task is the tough part. Acumatica project accounting lets you store the estimate of a task so that you can keep a history of such estimates. Such a cost estimate of a task should include all the variable costs related to that task. Next you need to add a mark up to each task cost estimate to cover fixed cost and a profit margin. The cost estimate of a task and a mark up give you the rate you will charge the customer. In Acumatica Project Accounting, this rate is stored as a budget for this task. The same steps are taken to determine a customer rate/price for a part/item. This item rate is also stored as a budget amount for this item in Acumatica Project Accounting.
All this enables you to track the profitability of a project task and item. Acumatica Project Accounting enables all the above.
As a project is underway, project overruns are very common. Acumatica Project Accounting enables you to see such overruns immediately.
The videos below will illustrate this.
2016 version: Project Accounting Process Flow
2018 R1 version: Some new features
New 2019R1 version feature: Project quotes
In the new version 2019R1 of Acumatica, the project accounting module/workspace enables you to specify project quotes consisting of a project estimate to do a certain set of tasks and use a certain list of items/parts. Once this quote is approved, the project quote can be converted to a project. In addition this project can become a work/production order in a manufacturing environment where the Acumatica Manufacturing Edition would be installed. Or this project can become construction project in a construction environment where the Acumatica Construction Edition would be installed.
The video (20 mins, 2/2019)below illustrates the creation of a project quote, which then becomes a project in a manufacturing environment, and then becomes a work/production order. You can click here to see the full screen.
To add Gantt charts, you can add Smartsheet, which is an Acumatica application that is fully embedded with Acumatica.
Smartsheet gives you a visual display of the start and end time of each task, of the interdependencies of tasks. You can move tasks around, and revise the schedule of resources.
For a description of the integration of Smartsheet with Acumatica, click here.
For details about Smartsheet, click here.