For organizations with large scale projects who perform milestone billing including a deposit at project kick-off cash received for that project is very important. As costs are being incurred throughout the project it is important for the accounting team/PM to ensure appropriate funds have been received from the client prior to purchasing materials, paying subcontractors, entering into PO's with vendors etc. Most likely more applicable to organizations where projects include significant material costs and external services rather then a typical consulting organization with limited material costs aside from labour. In other Job/Project costing solutions a billing window is provided with a listing of all invoices posted along with cash received against those invoices. A simple solution in BC would be to provide the ability to add the Project No to the Posted Sales Invoices Grid. Please see attached for a screen shot of billings window from existing Job Costing solution and the Posted Sales Invoice Grid.
Accountants and PM's will have a quick overview of the current cash position for a Project and will provide for better decision making on a procurement perspective.
|Any service or project related industry.