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RealWorld Expertise.LAN/Expertise.SQL
Project Costing
The RealWorld Expertise Project Costing package is an independent accounting module
that enables you to easily track details per project phase for job shops, manufacturers,
and construction firms of all sizes. Upon completion of the project, you can convert the
project into a quantity of inventory items. Additionally, you can allow customer selection
by phase with the ability to define various invoice formats per phase. Included in Project
Costing is a powerful estimating system with extensive customization capabilities. Using a
concept called Work Packets, the origi-nal takeoff quantity can create purchase
orders for the cost items associated from the estimate. The Work Packet concept allows for
greater quantity of detail captured for the projects. Expediting data entry means more
data can be captured.
- Workflow for project-related costs begins with data entry at the project level. The
Project Costing module then forwards the information to the sub-ledgers. For example,
Project Costing posts updates to Accounts Pay-able and General Ledger; as opposed to
Accounts Payable posting updates to Project Costing and General Ledger.
- Data entry can be done either on a single-project or multiple-projects basis. Invoices
can be sorted by project and keyed in for a single project or the invoices can be in
random order and entered for different projects.
- Work Packets can be used to support crews on a project, bit item data entry, and for
purchase and payment tracking. A Work Packet is a concept where an estimate can be
generated and saved with Work Packet ID, then marked up and used again for data entry when
the project is in progress, substantially reducing data entry time.
- Formulas can be used to allow users to configure quantities according to the discipline
of the projects they perform. For example, a work packed called "Concrete Slab on
Grade" would prompt the user for the width, length, and depth of the slab and then
generate a Bill of Materials for each item, labor hours, yards of concrete, steel, and
fill etc.
- Construction Specifications Institute (CSI) coding supports AIA (American Institute of
Architects) billing and government approved reporting and allows phase cost/billing
rollups.
- Each phase/cost code supports varied billing types and different billing customers to
accommodate engineering projects, such as Cost Plus, Burdened Cost Plus, Percent Complete,
or Fixed Fee.
- Issues support for post-project reporting. In the event of a Change Order discrepancy,
the contractor will be able to assemble all supporting documents to submit their claim
electronically across all phases of a project after the fact. For example, if there was a
change order required as a result of an engineering change to the air conditioning system,
the contractor would then be able to search the entire contract for the words "air
conditioning". A supporting schedule of documents would then be assembled for
printing and submittal to required parties.
- Estimating
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