Sage Intacct Project Accounting: Projecting Success

When your primary business model revolves around projects, having a purpose-built system that manages, tracks, and reports on project financials is essential.

Project and program reporting plays a crucial role in enhancing project performance and efficiency by enabling organizations to capture and analyze detailed activity data.

The Sage Intacct Project Accounting and Project Costing module is an ideal option. Here’s more about what makes it work so well and which types of organizations stand to benefit the most.

Sage Intacct’s Project Accounting and Project Costing Capabilities

Project-Centric Financials

At its core, the Project Accounting module is designed to capture and report every financial detail of a project. This includes tracking individual costs, revenues, and the overall profitability of each project.

• Get total visibility of costs, time, and expenses
• Manage resources, project billing — even revenue recognition. Project billing helps manage and streamline the financial aspects of projects by tracking costs and revenues, automating billing processes, and facilitating the creation of customizable invoices.
• Generate deep insights that keep projects on track and help grow profits

Flexible Billing Scenarios

Every project is unique, and so are its billing requirements. Sage Intacct excels in project billing, handling various billing methods such as fixed-price, time and materials, or milestone-based billing, Sage Intacct can handle them all, offering the right billing solution for every project type.

• Generate invoices using a variety of billing methods
• Easily separate revenue recognition from billing
• Calculate based on milestones, schedules, or percent complete

Real-time Project Visibility

Real-time dashboards provide instant insights into project performance and enhance project and program reporting. From profitability to resource utilization, decision-makers can access the data they need when needed. With Sage Intacct Project Accounting, you can:

• Access role-specific reports and dashboards
• Easily share reports with clients and colleagues
• Get answers about status, milestones, invoicing, costs, and budgets

Better Resource Management

For project-based organizations, human resources are definitely the most valuable resources, so optimizing their productivity is essential. With Project Accounting, you can identify the right resource with the right skills and availability to start projects fast—and finish them on time and on budget.

• Quickly identify who’s over-scheduled and who’s got capacity
• Gain clear insights into team utilization and efficiency
• Understand which projects and client types are most profitable for you

Budget vs. Actual Analysis

Every penny counts in project management. By comparing the planned budget against actual revenues and costs, you’re able to proactively identify areas of concern and make adjustments before they become significant issues.

• Track expenses by projects, budget to actual, and more within projects
• Identify unbilled R&D costs
• Run billable services projects for clients

Integrated Time and Expense Management

Easily track and bill for direct expenses and labor costs, ensuring you can accurately capture all project-related expenditures.

• Time tracking built into accounting
• Automate tedious time entry for faster, more accurate billing
• Use AI to reconstruct the work week and recapture forgotten billable time.

Project Management Essentials

Effective project management is the backbone of any business that relies on billable services projects. It involves meticulous tracking of project costs, efficient resource management, and ensuring timely completion of tasks. Sage Intacct Project Accounting offers a comprehensive project management solution that streamlines these processes. With Sage Intacct, businesses can effortlessly track expenses, manage resources, and generate invoices, all while maintaining real-time visibility into project financials. This enables businesses to make informed decisions, optimize their operations, and ultimately, project success.

Scalability and Flexibility

Sage Intacct Project Accounting is designed with the future in mind, offering scalability and flexibility to meet the evolving needs of growing businesses. Whether managing a handful of projects or hundreds, Sage Intacct adapts seamlessly, allowing businesses to track project costs and generate invoices with ease. The software’s robust reporting options provide deep insights into project financials, empowering businesses to make data-driven decisions and stay ahead of the curve.

Expert Support and Resources

At Sage Intacct, we recognize that expert support and resources are crucial for our clients’ success. Our team of seasoned professionals offers comprehensive support and training to help businesses maximize the benefits of our project accounting software. Additionally, we provide a wealth of resources, including webinars, whitepapers, and case studies, to keep businesses informed about the latest trends and best practices in project accounting. This ensures that our clients are always equipped with the knowledge and tools they need to excel.

Who Should Consider Sage Intacct Project Accounting?

While the Sage Intacct Project Accounting module can be beneficial for various businesses, it holds specific advantages for organizations that take on defined, time-bound projects with specific budgets, resources, and deliverables, like these:

Construction—Given the scope, scale, and duration of construction projects, a dedicated accounting solution helps track project-specific costs, revenues, and profitability, ensuring projects remain on budget. 

[Learn how Sage Intacct Construction provides project accounting and much more.]

Professional Services—Consulting firms, architects, and marketing agencies often work on a project-by-project basis. They need precise financial tracking for billable hours, expenses, and revenue for each client engagement.

Non-Profit Organizations—NGOs often undertake projects funded by grants or donations. They require stringent financial accountability to ensure funds are utilized appropriately and transparently.

Projecting Success

If your organization’s success depends on its ability to account for its projects accurately and efficiently, Sage Intacct Project Accounting offers the precision, flexibility, and real-time insights you need to keep projects financially on track. Contact our Sage Intacct consulting team to learn more.

Read the whitepaper: Project Accounting Software Evaluation Guide