Slowed by QuickBooks: Project Accounting

With so many moving parts, tracking projects
from beginning to end is a challenge for any business. It becomes even more difficult when you add
managing project revenue, expenses, and profitability over the lifetime of a project as well as
ensuring clients are billed accurately and on time. And it becomes, essentially, impossible if
you’re trying to do all of this on QuickBooks. Not only do you need an upgraded edition of
QuickBooks to manage project accounting and billing, you’d still be missing key functionality,
like resource and expense management, forecasting margins and proactive budget alerts. Since project information isn’t seamlessly
integrated with your financials, QuickBooks presents tedious, manual administrative challenges
around processes like: Managing project budgets and cost margins
Correctly recognizing project revenue Producing accurate and timely invoices
Managing timesheets and expenses, and Tracking project financials On the other hand, NetSuite provides a comprehensive
project accounting solution that overcomes all of these obstacles by centralizing and
automating these tasks in a unified, cloud-based solution.

NetSuite project accounting is integrated
with your general ledger, accounts payable, accounts receivable, purchase orders, and
inventory management to empower visibility, productivity, and efficiency throughout the
entire project lifecycle. In addition to taking care of your project
accounting and billing needs, NetSuite also provides a comprehensive, end-to-end professional
services automation solution, called SuiteProjects, that supports your entire services business
with a single, cloud-based suite – from project and resource management, to time and
expense tracking. SuiteProjects
Connects project activities with company financials, Helps increase on-time project delivery,
Tracks project budgets and billing, Optimizes staffing and utilization, and
accurately recognizes long term project revenue And it does all of this without any costly
3rd party integrations.. Bottom line: If you’re running on QuickBooks,
you’re floundering trying to keep up with processes around project management, accounting
and billing.

Not only does NetSuite automate these processes,
it integrates them with the rest of your financials, helping you to control costs, increase billable
utilization and improve project profitability for continued business growth..

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