Complete solution for project accounting, planning, and invoicing
Xledger equips you to manage projects of any size with advanced time capture, resource planning, project accounting, and automated project invoicing.
Maximize your resources and budgets. Assess real income, expenses, and time sheets against planned resource needs, time scale, and profitability. Get the information you need in tabular and graphical formats with pre-defined queries and reports.
Xledger’s project accounting consists of a set of flexible sub modules and areas that you can use based on your organization’s needs and wants. All functionality is available for all customers:
- Project structure
- Time management
- Project expenses
- Project reporting and follow up
- Project invoicing and revenue recognition
- Project costing
- Handling project hierarchies and multi-entity projects
Time management – keep track of every billable hour
With Xledger, managers and employees can submit, view, and approve time on any device. Project participants can enter their hours daily, with options including time-based entry or periodic entry by day, week, or month. Flex time and work schedules provide helpful overviews.
- Xledger Mobile app for iOS, Android, and Windows phones
- Automatic transfer of logged hours to payroll
- Recording of time against project, task and activity levels
- Access the system on any device
- Approve entered time at defined intervals
- Billable hours and expenses – included in project billing
- Posting of WIP at any time during the project’s lifetime
You can report on projects using actual book income or based upon imputed hourly earnings and expenses. This ensures holistic overview of project accounts, even if wages and other costs are not recognized within the project. See Time and Expenses for more details.
Project invoicing – save time with automated processes
Xledger can automatically invoice hours, travel bills, expenses, and fixed prices. You can invoice on any level: subproject, project, or collection invoice per customer. All transactions are automatically recorded in both the general ledger and customer accounts, giving you full traceability.
Projects can be defined and structured with as many as 12 hierarchy levels. On any level, a given project can have an unlimited number of sub-projects for allocation and follow-up. The project is the master, defining availability for timesheet entry, GL entry, and invoicing rules.
Employees can enter project expenses, such as out-of-pocket or travel expenses, into the expense ledger for full cost overview and potential billing to the customer. Expenses posted to the GL can be automatically migrated into the project system for billing. Read more about time and expenses.
Project reporting and follow up
Xledger provides a robust a set of flexible inquiry screens and reports, including 360⁰ views of projects and/or employees that give department or project heads the tools they need to manage the progress and status of accountable projects. Read more about reporting and analytics.
Project invoicing and revenue recognition
Hours, travel expenses, subcontracting expenses, product usage, etc., can be invoiced to customers on the basis either (a) of the project setup, price lists, and price matrix, or (b)of a fixed price rule. Revenue recognition for running projects is available even on non-direct billable projects.
Project needs or plans can be entered at daily, weekly, monthly, or yearly intervals and then followed up with resource allocation. Allocation applies to both human and non-human resources. Easily accessed deviation reports on both allocated and used hours gives project managers real-time overview.
Contractors and employees can have commissions calculated, posted, and paid through the system based on sales order and sales history.
There is a variety of cost elements and components available for building time expenses for project cost allocation. The cost allocation is reflected in the GL based on the posting rules for the project.
Xledger’s multi-entity capabilities allow for projects to be managed anywhere with resources from across the organization and related entities. Managers can pull resources from different sources in extended organizations. One pot of resources can be used for different projects.