Projects

Project records are used to keep track of costs and/or expenses incurred during a contract or job that your company performs for customers. Projects enable you to keep detailed information about the revenues and expenses associated with the work your company does. You can then review this information in a number of project reports to ensure that work is being done on time and on budget.

Why should I use projects?

Project information is extremely valuable when you want to determine if a specific business activity is profitable. It is also useful if you need to decide if a new venture is going to make money (you can compare the actual cost of a project to a budget estimate and spot potential cost overruns early). Projects are commonly set up to store details of expenses and revenues associated with an event, a customer, or a location.

ClosedBenefits of using projects

ClosedExamples

Why can't I just use departments?

Departments are tied to accounts, and are useful for tracking revenues or expenses generated by a specific business function (marketing, administration). A project record allows you to generate reports on several activities related to a specific customer or job. (Sage 50 Premium Accounting)

What do you want to do?