Enhance your job costing processes further with this sub-module, which includes additional functions to provide expanded levels of control for project costs, revenue and accountability.
Manage the prepayment of invoices and the ongoing draw-down during the life of the job, ensuring invoicing is clear for the customer improving your financial control. Slash the risk of errors and fraud with full invoice audit trails. Keep on top of variations as invoices are automatically validated to estimates using your own defined Alerts. Manage out-of-scope problems with estimate variations to control cost escalations. Have greater control over pricing with date-based price books.
Calculate revenue recognition based on the percentage of completion, which can be reviewed and manually adjusted if required, and then updated through to General Ledger. This method of revenue recognition accounts for profit on long-term contracts as it is earned gradually during the life of the job.
Calculations can be based on budget vs actual costs, budget vs actual hours, budget vs actual retail price, or on the elapsed time of the job, and then applied to the estimated retail value, the job value, or the invoiced amount to date to give the recognised revenue to date.
Revenue forecasting can be generated by period, allowing entry of forecast revenue for future periods with the option of spreading the unallocated revenue evenly over the remaining periods of the job.
Manages the pre-payment of invoices, where the balance of any pre-paid invoice is carried forward against the job until the pre-paid balance has been consumed.
Recalculate prices on timesheets
Change the rates on labour already entered on timesheets and recalculate the selling rate before invoicing.
Audit job invoices
Show any changes that have been made to existing invoices and proformas.
Validate job invoice total against estimates
Delivers a warning at invoicing stage if there is a difference between estimates and total invoices/proformas.
Manage job estimates as one ‘master’ estimate. This is a collection of all estimates per job, so that estimates are variations of the master.
Frequently a retention value needs to be held back on a customer invoice pending some criteria being met. Customer retentions allows you to define different retention types that control the retention rate, General Ledger account postings, the basis for the retention claim whilst managing the retention write off that may need to be carried out.
Based on predefined rules, a retention type can automatically be applied to an invoice generated against a job and Greentree can then manage the process for you. You have full visibility of all retentions amounts that are outstanding along with when they can be claimed. At the time when the criteria to claim the retention has been met, you can easily process a claim for the amount or, should the need arise, write off either the full or partial retention amount.
Microsoft Project® Interface
If you use Microsoft® Project for your task and resource planning, the Greentree Microsoft Project Interface delivers a user-friendly link between Greentree and Microsoft Project using a built-in wizard.