Because ProjectPartner’s focus is on the accurate recording and reporting of financial data relating to your projects, it adopts a tiered approvals process where project activity is confirmed before being committed to billing. If you prefer, any and all steps in the approvals process can be automatically granted, depending on your needs.
Resources can submit completed timesheet records and expenses when completed – on a daily, weekly or monthly basis. While not strictly necessary, timesheet submission can be useful for payroll considerations.
Project managers authorize those recorded activities which belong to their projects, or edit or reject those lodged incorrectly. Once confirmed, staff are prevented from making edits to those entries which would impact project budgets.
At this point, other disbursements not already entered by timesheet users can be lodged and assigned to customers and projects. The purchase and sale of other materials and finished goods can also be entered so that your entire cost recovery can be included in your reporting. Charge rates can be applied to accommodate profit margins.
A final tier of approval locks all time, expenses, disbursements and sales for selected activity. This is the final data that will be used in profitability reporting, and can be used within ProjectPartner for client invoicing or exported for use in a separate FMIS application.
You can generate invoices directly from within ProjectPartner using our easy-to-use layouts. Select the invoice template which details or consolidates activity to the level required, and apply that to individual projects or clients, or to your organization as a whole.
For example, a quoted job may only need progress or total costs listed, while you may prefer itemized details for all resources involved on a time-and-materials project – with either individual or levelled charge rates noted.
Simple visual controls at invoice time allow you to specify additional information, page margins and more, either for each invoice individually or to the entire batch being processed.
The Internet and international trade mean that many organizations now do business with partners worldwide. ProjectPartner lets you take advantage of your marketability and easily manage projects in multiple currencies.
Perhaps your software development team’s QA department is halfway around the world, or your manufacturing business exports to other markets. With ProjectPartner, individual resources, entire workgroups, projects or clients can be associated with any currency, and you can specify exchange rates between them to suit any hedging you may use or to monitor budget impacts.
This functionality makes it a breeze for, as an example, a US-based business to outsource work for a Canadian customer to a Japanese contractor, and remain in complete control of all costs and charging throughout.
You can even manage your taxation obligations by recording applicable tax rates and/or exemptions for any kind of transaction – domestic or foreign – and having those costs reflected in your profitability reporting.