Project Accounting
Bringing Project Managers Successful Knowledge of Accounting
Trusted Clients
Project Accounting - Empower Businesses Working on a Project Basis
Project accounting focuses on all the financial components of each project. This kind of accounting is essential for industries that work on projects-by-projects or people who work on specific tasks where the results are only permanent until the job is completed. Project aaccounting methodology helps in tracking estimates, budgets, costs, bookkeeping, billing, and other finances that are associated with each project. Moreover, project accounting identifies profitability which helps the business analyst optimize cost and revenue based upon our efficiencies.
Princeton Consulting provides project accounting services for all businesses that are highly dependent on projects. The project accounting process can become tedious without the proper guidance and guidance from an experienced accountant because each project will have its own needs to be monitored. Our accountants will ensure that the process is as easy as possible, enabling you to achieve a profitable outcome for your project and move forward with business growth.
Process of Establishing your KPI report
- Define company vision and goals
- Break down company goals into Key Performance Questions
- Select KPIs answering Key Performance Questions
- For each KPI, set the target for evaluating each
- KPI performance
Select date sources for KPIs - Produce KPI report measuring actual performance Vs targeted goals
- Identify the reason for variance between the actual performance and targeted goals
Areas Where Project Accounting is Used
We at Princeton Consulting offer project accounting services suited to the needs of our diverse client base.
We are experts in project-based accounting for diverse industries.
Real Estate Project
Construction Project
IT Project
Exhibition or Event
Healthcare
Energy
Tools for Project Accounting
Feature of above project accounting software's for tracking the project accounting
- Connect invoices, expenses and transactions of each project
- Constant tracking of expenses
- View outstanding and unbilled work
- Add task estimates and track budget with ease
- Running the profitability reports for each project to check the margins and tracking the cost and revenue of each project
- No duplication of work, tracking the revenue and cost for a project happen simultaneously while doing the accounting of a company as a whole.
