Let’s talk about a significant change in the world of professional services firms when it comes to time and expense tracking – Acumatica ERP. Now how can it help with the challenges facing professional services when it comes to time and expense tracking? This powerful tool offers a comprehensive solution for tracking employee expenses, businesses with labor costs want to keep track of time and re-billing of clients. It is easy-to-use, full-featured, and mobile software. With unlimited users, everyone can have a real-time view of your business anytime, anywhere. These features are vital in the modern world challenges facing those in the professional services industry.

The Importance of Time and Expense Tracking in Professional Services

In the fast-paced world of professional services, effective time and expense tracking is crucial and helps firms manage their resources more efficiently. Manual processing and disconnected systems can prevent professional services companies from advancing their profitability and productivity.

With Acumatica ERP, users can enter timesheets and expense reports from anywhere using any device with a browser. This allows them to conveniently enter information from the office, a client site, or while traveling, regardless of whether they are employees, partners, or contractors. It allows for better management of relationships, costs, and managing deadlines.

Acumatica allows anyone to access it, wherever they are. If someone needs to work from home and be productive, they can do that. Acumatica is much more user friendly than what we had before. The integration with Microsoft Office, especially Outlook and Excel, has been great.
~ Steve Slaughter, President/CEO of Frederick Block, Brick & Stone Read the Full Case Study

Time and Expense Management Module

Acumatica is designed to simplify and automate the process of time tracking by providing a more convenient process for entering data. It allows employees to easily log their hours, reducing errors and saving valuable time. Plus, with real-time data, managers can make informed decisions and ensure projects stay on track. Here is a look at the benefits of the software:

Key Benefits

  • Accessible from Anywhere: Users can conveniently submit work orders and timesheets from any browser-enabled device, regardless of whether they are remote employees, installers, contractors, or others
  • Secure, Authorized Data Entry: Advanced security features allow you to authorize users to perform specific tasks, enabling them to view only the data required to perform their job
  • Customized Reports and Inquiries: Integrated query and reporting tools simplify reporting by delivering information at the project level, subsidiary level, or company level
  • Flexible Workflows and Approvals: Create workflow and approval routes that match existing business processes for entering timesheets and more
  • Eliminate Dual Data Entry: You only enter data once, saving time and reducing errors, because timesheets, proposals, tasks, and more are used for both project planning and billing
  • Automated Expense Receipt Entry: Uses image recognition to quickly enter an expense receipt and machine learning, it will learn from previous entry and correctly identify the type of expense
  • Gain Control of Profitability: Centralized billing and expense data provide rapid access to project-level profitability, including timesheets, materials, inventory, and allocated expenses

Acumatica’s time and expense module is meant to do it all to help keep things on budget. Its real-time nature is important when keeping track of potential fraud, inflating expenses, and managing overtime pay and makes it easier for corporate credit cards to make processes. Digging deeper into the expense management abilities of Acumatica’s software, let’s dive into their Advanced Expense Management Software.

Advanced Expense Management Software

Acumatica is designed to improve expense accuracy for accounting and project costing and billing. No more wasting time tracking down receipts and, instead, focusing on the growth of your business. Here is a look at the key features of the software.

Key Benefits

  • Shorten expense cycles: The automation of expense receipt creation, bank feed imports, and push notifications reminding employees to submit expense receipts on their phones.
  • Improve the accuracy of data: AI and machine learning working to identify current transactions and correctly matching future expenses based on feedback.
  • Integration of projects: Project costs are improved through expenses and expense receipts going through to the project account system.
  • Streamline decision making: Expense information comes quicker through automation for improved reporting and analysis.

Integration of Time and Expense Management with Project Accounting

Acumatica’s project accounting software is made for professional services organizations. It integrates with Acumatica General Ledger (GL), Accounts Payable (AP), Accounts Receivable (AR), Sales Order Management, Purchase Order Management, Inventory Management, and more. This software allows for:

  • Tracking of project costs
  • Total confidence with invoicing
  • Control of budgets
  • Multicurrency project accounting
  • Company specific financial periods

With Acumatica’s software at your fingertips, your business can succeed from time and expense tracking to managing projects across the board. You can learn more about the features and benefits of Acumatica’s project accounting software here.

Acumatica Cloud ERP and CAL Business Solutions

Acumatica ERP has made a significant impact on professional services firms. By streamlining time and expense tracking, it has helped these firms manage their resources more effectively, improve their performance, and boost their bottom line.

Acumatica ERP offers a powerful solution for time and expense tracking in professional services firms. By automating these processes, it helps businesses save time, reduce errors, and make informed decisions.

CAL has been recognized by Acumatica for outstanding customer commitment and sales achievement. When you choose CAL, you choose an organization with an outstanding proven track record. CAL Business Solutions provides industry-specific insights and expertise to ensure you get the most out of the software. Additionally, CAL Business Solutions has a portfolio of Acumatica Cloud ERP success stories and case studies, you can learn more about here. By partnering with CAL Business Solutions, you can leverage their expertise to achieve the growth and scalability your business needs.

So, if you are looking to streamline your operations and boost your profitability, Acumatica ERP could be the solution you have been looking for.  Are you interested in learning more about how Acumatica ERP can benefit your business? Contact us today for a consultation, demo, or quote, and let us show you how we can help you transform your professional services business.

By CAL Business Solutions Inc., Connecticut Acumatica & Microsoft Dynamics GP / 365 BC Partner, www.calszone.com