Professional Services Automation
NetSuite Advanced Project Accounting
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NetSuite Advanced Project Accounting lets you manage your professional services organisation more effectively with integrated project/job tracking and reporting. With NetSuite, you can automate project/job creation when specific services are sold, and automatically track percent complete and time budgeted and spent on project tasks. Reports for utilisation and backlog help you analyse your employees' workload and efficiency. Estimated job profitability reporting compares your projected loaded labor cost on projects against expected billings.
Manage Multiple Project Types
NetSuite manages multiple types of projects including time and materials, fixed price, and cost plus projects.
Automate Job Creation
You can automate job creation by identifying service items that will require a job; then, sales orders for those items go into a queue where you can assign ID and project manager, and bulk create many jobs with one click.
organise Tasks and Activities
NetSuite also organises tasks, calls and events, linking them to specific projects.
Information regarding clients is managed in one place so resource tracking is complete and real-time for ever-improving client service and can be segmented and leveraged for smarter client intelligence.
Estimate Labor & Revenue
NetSuite manages multiple types of projects including time and materials, fixed price, and cost plus projects.
Track Time
Track the hours you and other employees work. You can record how many hours are
spent on each job and use time reports to plan for future jobs and hiring needs. With the appropriate role access, you can track time for employee payroll items like hourly wages.
Tie Projects to Customers and Bill Directly
Teams can create project jobs and link them to specific customers. You can even create sub-jobs. When you create tasks for a job, and enter time against those tasks, percent complete is automatically calculated and rolled up to the job level. You can keep track of original and current estimated time to complete each task. Billing time back to customers enables you to enter time spent on a job for customers, and then bill the cost to them.
Payroll Expense Allocation for Jobs
NetSuite now provides a one click solution for tracking the actual labor cost of your jobs. Salaried earnings and payroll company contributions can be allocated to the jobs each employee worked on during the pay period, according to the time they entered, providing more accurate financial reporting on job profitability.
Broaden Project Visibility, Measure Performance
All project job records include start dates, estimated end dates, percentage of work
completed, actual end dates, as well as all income and expenses associated with each project. You can view time budgeted versus time spent as well as team utilisation.
Job Tracking Reports
- Employee Utilisation. Track employee utilisation rates on a per-employee and rolled-up, team basis using this report. You can also compare utilisation for two time periods at once — for example, view 'current month to date' utilisation and 'current year to date' utilisation side by side.
- Current Backlog. Get a quick overview of work remaining on your open jobs — the
number of jobs assigned to each service rep, and the number of hours left to complete their job-related tasks.
- Estimated Job Profitability. Get a 'best estimate' of future profitability for your open jobs, based on certain assumptions: the expected revenue booked on the sales order and the loaded labor cost for the hours expected to complete each job.
- Customer/Job Profitability. Renew the profitability of your jobs based on actual posting revenue and expense transactions.
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