Advanced Projects

Project accounting software to develop conditions for growth and improved profitability.​

project accounting software

Advanced Projects

Project accounting software to develop conditions for growth and improved profitability.​

About Advanced Projects

An extension of Microsoft Dynamics 365 Business Central, adding advanced project & resource management and complete project accounting, giving you full control over your projects, resources, and overall business. ​

It’s simply PSA & ERP all-in-one, bringing processes, people and data together. End-to-End.​

Looking for new ways to scale your professional services business?

Use the step-by-step guide or even pre-defined templates for a solid project setup in a few clicks.  Ensure the necessary data is captured and entered in a consistent manner, improving the quality of the data. This makes it easier to manage and track projects, allowing Finance to focus on their core responsibilities. Stop wasting your time on tasks that can be done in less than a minute.​

Have full control over your project backlog and forecast. Start your projects with a quote rather than having to wait for the order, enabling complete forecast reporting based on backlog orders and weighted pipeline.

Ensure cost control and take corrective actions if needed to stay within financial targets. Monitor project data on a comprehensive dashboard or get notified by the system when cost approaches budget commitment. Obtain clear visibility of all your budget versions from the creation to completion stages. Be in control of labour, materials, equipment, any other expenses, and timing to make informed decisions about how to allocate resources and manage risks. ​  ​

Copy, import and create detailed budgets with the wizard. Get unlimited budget versions to compare and evaluate the potential outcomes of different scenarios. Keep an eye on variances from the budgeted figures in the course of time. ​

Make use of the work breakdown structure (WBS) for a better scope into the project’s deliverables. ​  ​

Take advantage of an exhaustive Gantt chart including deadlines and resource usage compared to budget to assist you in the planning and scheduling. ​

Easily generate purchase orders directly from within the project. In the blink of an eye, in one single system. ​

Ensure the quality and profitability of your projects by being in control of your purchase & subcontract commitments.   ​

Ensure compliance with subcontractor arrangements in terms of insurance, certificates, and contracts.  Keep track of change orders and use internal approvals to ensure the subcontractor arrangements are managed efficiently and effectively. This will give you the peace of mind that the subcontractor is meeting their commitment, and that the project is running smoothly without any delays.

Gain full insight into resource workload and availability to optimise utilisation.  Secure the right resource by filtering based on specific skills or competencies.​  ​

Use a single, collaborative resource planning platform with drag-and-drop functionality to create or modify work assignments easily. Reallocate people to other projects if required. ​  ​

Send work assignments to Outlook calendar as part of the employees’ daily working tools. Use work assignments as a baseline when importing into timesheets for simpler and more efficient completion. Or let employees create time entries in Outlook from work assignments. ​​

Choose from a set of pre-defined resource boards depending on your needs: general resource board, board per project, per individual, and per individual and project. ​  ​

Obtain real-time resource forecasts and a comparison of budgeted time versus time already used in a click.​​

Empower team members to plan for themselves or plan the work assignments from a high-level perspective.

Easy capture of time to avoid that tasks get forgotten or missed. Ensure all time is captured by updating timesheets either through direct entry in Outlook calendar bookings and emails, or on-the-go with your smartphone.​

Straightforward expense entry on the go by taking a quick photo of the receipt and submitting it. Stop missing the next payroll deadline! ​

Streamline the invoicing process by implementing time & expense approval workflows prior to invoice posting. Ensure quality assurance by introducing approval workflows up to three levels such as Project Manager, Line Manager and Executive. Reduce inaccuracies and create a smoother process. ​

Optimise the invoicing process for receiving payments on time. Effortlessly review what to invoice, make changes, or relocate entries as needed. Keep track of your milestones and payment plans and release for invoicing with the press of a button. It’s time to free up resources! ​

When grouping lines, configure your invoice specification in order to meet your customers’ wishes. Invoice grouped and/or summarized using layouts and specifications according to their requests.   ​

Calculate Work in Progress (WIP) automatically and post it to the General Ledger (GL) in a click for an accurate income statement. In addition, get a detailed WIP report for full audit trail.   ​

Implement different invoicing methods without concerns of losing accuracy and consistency, despite the large quantity of entries. Your project invoicing is now fully integrated with Finance.

Full access to trustful data from ONE source with drill-down functionality. Have an overall view of the project, identify risks, and apply corrective measures if needed.

Take advantage of analysis views and dashboards for full project cost control & profitability, resource performance, or any other performance indicator. Full business insight for data-driven decisions. ​

Receive automatic notifications through email when cost is approaching your budget commitments.  Stay informed about the project’s financial status and take appropriate action to keep the project within budget.​

Visualise insights on demand with out-of-the-box standard reports for Power BI.

The project setup is very flexible and quick. Now, when we get a project, we ask the customer how the invoice should look like, and we set it up in template right away. Like that, we prevent customer complains when they receive the invoice. We also use the activity codes and the price template based on employee categories on task level.

Steen Nielsen, CFO at LE34

With the resource management features we have a very good overview of who’s doing what. We use our own colour system for both individual and full resource boards. Only project managers, team leads, and me as coordinator can allocate work assignments, but key account managers have access to the board and can easily see who’s available.

Jytte Beck, Project Coordinator at Geoinfo

TNP is substantially the largest Business Central partner in the UK. We’re excited by the extent to which Advanced Projects will help us better serve organisations that are in the business of delivering professional services. So much so – that we are in the process of implementing it ourselves!

The NAV/365 People, UK Partner

Elbek & Vejrup create value through IT for our customers and the Advanced Projects solution is a perfect example of this by helping its users to streamline and simplify the administrative work so they can focus on creating profitable business. We have aided many customers to gain significant benefits with the implementation of Advanced Projects.

Jesper Stjerndrup Nielsen, Team leader & Senior Consultant at Elbek & Vejrup

The invoice suggestion is brilliant and completely new to us. We love it.  It’s fantastic compared to what we had before. You just need to go in, get a proposal, and book it. All this in a few clicks. It’s super effective. The invoice specification featuring a diary of all items per day is also a great feature.

Steen Nielsen, CFO at LE34

The scope of Advanced Projects is significant and very impressive! Its extended functionality exceeds the demanding needs of the customers looking for an ERP/PSA-solution. This far, any request from a customer regarding functionality and what they need it to do –has always been answered with a “yes”.

Duncan Kerr, Enterprise Applications New Business Development Consultant at Content+Cloud, Partner in UK

As a CFO my main focus is quick invoicing for a better cash flow management. It’s all about data discipline. If all relevant project data is properly entered when creating a project, it just takes a minute to generate the invoice when the work is done.  Besides, we issue the invoice the way the customer asked to. The invoice suggestion feature is brilliant. We love it.

Steen Nielsen, CFO at LE34

Once the consultancy hours get approved, we get a quick estimate of how much we have earned in a month. In a matter of a few clicks, we get a proposal, which we just need to post. The invoice suggestion has thus helped us automate and streamline the whole billing process.

Henriette Frost, CFO at Geoinfo

Advanced Projects helped us take a step into the future. We needed a new PSA solution for the future that creates conditions for growth as ONE NORRIQ. A solution enabling integrated processes, process automation and complete access to data for full control over our projects and overall business. A fully integrated “all-in-one” solution was the only way forward.

Allan Nørgaard Rasmussen, Chief Operating Officer at NORRIQ, Partner in Denmark

Compared to the old system we now have a transparent ERP-system with a fantastic controlling environment including business intelligence tools. Having full access to relevant project and resource insights coming from ONE data source, I’ve gained a greater understanding of the business only within a few months.

Steen Nielsen, CFO at LE34

Feature Highlights

Project Setup

  • Create Project through Wizard
  • Project & Task Templates
  • Sales Price Templates
  • Invoice Templates
  • Project Quote
  • Pipeline Management
  • Associations
  • Team Members
  • Approval workflow
  • Contract

Project Budgeting & Planning

  • Budget Versions (unlimited)
  • Budget Matrix
  • Copy Budget
  • Budget Approval Workflow
  • Scheduled Billings
  • Contract Type per task
  • Deadlines & Milestones
  • Gantt Chart
  • Related Tasks
  • Subcontractor Management

Purchase / Production/ Assembly

  • Project Replenishment Planning
  • Project Purchase Order
  • Project Production Order
  • Project Assembly Order
  • Project Item Prices
  • Project Bins & Locations
  • Subcontract & Change Orders
  • Subcontractor Commitments
  • Reserved Purchase on Project
  • Purchase Not Invoiced on Project

Resource Planning

  • Work Assignments
  • Drag-&-Drop
  • Assign /Re-Assign
  • Resource Board
  • Project Board
  • Individual Planning Board
  • Permissions
  • Color templates
  • Import from Budget
  • Send to Outlook

Time & Expense Entry

  • Time & Expense Sheet
  • Time entry in Outlook
  • Time entry in Mobile
  • Worktype
  • Flex time
  • Expense entry in Mobile
  • Attach receipts in Mobile
  • Approval workflows
  • Time & Expense Journals
  • Timesheet reminders

Invoicing

  • Invoice Suggestion
  • Scheduled Billings
  • Milestone Billing
  • Progress Billing
  • Retention Billing
  • % Complete Billing
  • Subscription Order Billing
  • Contract Billing
  • Invoice Setup & Specification
  • Work-In-Progress

Insights & Control

  • Project Cock-pit
  • Project Profitability
  • Project Net Profit Analysis
  • Project Task Profit Analysis
  • Resource Usage Analysis
  • Timesheet Status Analysis
  • Project Forecast Analysis
  • Unbilled Report
  • Project Budget Comparison
  • Power BI Reporting Package

FAQs

Project accounting software is specifically designed to help professional service firms, or any project-centric business manage their operations more efficiently. Project accounting software typically includes a range of features such as resource management, project management, invoicing, and reporting and analytics.​

With a cloud-based project accounting software, you can access your data and applications from anywhere and from any device with an internet connection, allowing your team to work remotely. Additionally, they are highly scalable, which means that they can easily accommodate changes in the size and needs of your project-centric business. On top of that, cloud-based business management systems are automatically updated and backed up, so that your data is safe and secure. Last but not least, cloud-based software is often more cost-effective than on-premises systems.  ​

A project accounting software should have a variety of features including time and expense tracking, budgeting and forecasting, resource management, billing and invoicing, project management, and reporting and analytics. On top of that, it should be integrated within your ERP to provide a more comprehensive view of project performance and financial data.​

With a cloud-based project accounting software, you can access your data and applications from anywhere and from any device with an internet connection, allowing your team to work remotely. Additionally, they are highly scalable, which means that they can easily accommodate changes in the size and needs of your project-based firm. On top of that, cloud-based business management systems are automatically updated and backed up, so that your data is safe and secure. Last but not least, cloud-based software is often more cost-effective than on-premises solutions. ​

A good cloud-based project accounting software should include granular permission settings for different types of users, as well as data backup and disaster recovery features that ensure that information is not lost in case of system failure.​

Have a closer look at your project processes and workflows and identify the gaps. The main goal should be to look for an integrated system that helps you simplify your project-related processes reducing the need for duplicate data entry, and thus the risk of error. ​

Legacy software refers to software that is no longer being actively developed or supported by the vendor, which means that there may be no new updates or bug fixes available. Legacy software may still be used by organisations because it still performs a necessary function, but it may be less efficient or less secure than newer software.​

(Progressus) Advanced Projects can easily be installed for free trial. The installation can be done from Microsoft AppSource, or in Business Central from the Extension Marketplace page.

Automating the processes in your project-centric business will help you be more efficient. Having one centralised source makes it easier to access high-quality data. With the reporting and analytics features you can generate reports on the performance of your project-centric firm, which are difficult to generate with Excel spreadsheets. Cloud-based project accounting software is flexible and scalable, meaning that it can adapt to your project-based company as it grows. ​

The price of a subscription-based project accounting software can vary depending on several factors, such as the features and functionality included, the number of users, and the pricing model. A subscription-based model (SaaS- Software as a service) can cost anywhere from a few euros per user per month to several hundred depending on the features and functionality.

The advantages of using Microsoft-based project management software are several. Employees are already familiar with Microsoft products, so the adaptation process runs smoother. It can easily integrate with other Microsoft products such as Outlook, Sharepoint and Teams. Having a Microsoft Office subscription can help offset the cost of the software for your company. The cloud-based Microsoft ERP Business Central receives regular updates which enhance the user experience. Additionally, your project-based business is provided with the security of a large corporation that guarantees that your data is backed up and kept safely and securely. The continuity and stability of the product from the Microsoft side, being this a well-established company with a long history of providing software products, shouldn’t be underestimated. ​

Advanced Projects is an extension for project-centric businesses built on Microsoft Dynamics 365 Business Central. It can only be built on Business Central. ​

Out-the-box Business Central is not enough for your professional services firm or project-based firm because it is more focused on financial management, supply chain management and inventory management. In contrast, Advanced Projects is an add-on built on Business Central that has been specially designed for project-centric businesses. It adds industry-specific capabilities such as timekeeping or resource management. Advanced Projects supports the typical processes of your highly-specialised industry.​

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