Projects allow you to keep track of, for example, the income and expenses of a specific job. Projects can be assigned to sales and purchase invoices, financial entries and salaries. The project report provides an overview of the volume of projects used.
- unlimited projects and subprojects
- row-based projects on invoices
- project reports for an overview
Projects can be linked to receivables, payments and project-based salaries. In theory, project-based accounting can be used in almost any field, such as:
- construction – to differentiate construction sites
- IT – to differentiate projects
- Event planning – to differentiate events
- It can also be used across various fields of activity. For example, if a company is engaged in several businesses – separating construction and real estate, marketing and training, differentiating between online stores etc.
The project report gives you an overview of the projects added to purchase and sales invoices, receivables, payments and payroll. To find out how to create new projects, read this guide: Project-based accounting – predefining (adding projects)
Mairi Uiboaed, accountant (Kermalen OÜ)
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