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At the center of
any time and billing package is the project. Whether you call it a project,
engagement or matter, you need to be able to plan and track project
profitability by identifying business issues while the project is still in
progress. By comparing actual and budgeted cost and revenue throughout the
life of the project, managers can stay on top of planned profits.
Professional Service Time & Billing™ provides the ability to create and
track an unlimited number of projects with an unlimited number of tasks.
(figure 1)
Project Maintenance (figure 1)
Project Types
The system allows you to setup unlimited project types, which are used to
ease the administrative burden of setting up projects, which share
commonalities with each other, as well as organizing the projects for ease
of reporting.
Budgets
Professional Service Time & Billing™ lets managers set up budgets in the
format that suits the project and the firm down to the task level. Budgets
may be based on cost and/or billing rates, developed at a summary or
detailed level, updated to reflect changing costs or scope, and used to
compare percent of work completed to the percent of budget expended. You can
also add on the Dynamics SL® Project Controller Module, for even deeper and
broader project management and budgeting features.
Contract Types
Each project allows you to track multiple contract types including:
recurring not to exceed, fixed fee and percentage, recurring, hourly not to
exceed, standard hourly, and un-billable. You can also decide for the
contract types that are billable whether the fees & expenses are billable or
fees only or expenses only.
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Rates
You can have billable rates default from any of the following: Project,
Task, Employee, Employee Class, Office, Entry Type, Customer, or Department.
You can also have custom rates on a per project basis that allows up to ten
different levels in a hierarchy with up to five key fields selected from the
following list: Task, Entry Group, Entry Type, Employee Class and Employee.
Invoice Formats
Professional Service Time and Billing ™ allows each project to choose from
eight different invoice creation formats. Invoices can be created as
follows: by Customer, by Project, by Employee per Customer, by Employee per
Project, by Day per Project, by Day per Customer, by Time Sheet Document,
and by Task per Project. You can also bill multiple projects together on a
single invoice. You may consolidate the projects on the invoice, or list
them separately. It’s your choice!
Other Setup Choices –
The system allows for the following on a per project basis:
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Enforce time rounding in the following manners: (hour, half hour, fourth of
an hour, sixth of an hour, tenth of an hour, and twelfth of an hour).
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Automatic expense rounding.
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Choose to invoice non-billable items.
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Choose to allow or prohibit zero rates.
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Flag for bill minimums.
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Choose to bill expenses separate from labor on invoices.
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Restrict and Limit Entry Types on a per-project basis.
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Turn Dynamics SL accounting modules on or off at the project and task level.
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