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“PSA – NetSuite SRP (Project Accounting Overview)Overview | September 2016

Project Accounting

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Table Of Contents

• Overview of SRP…………....………………………………………………….4

• Project Reporting ………………………………………………………………5

• Resource Assignments (screenshots) …………………………………........8

• Project Billing Setup ………………………………………………………….10

• Fixed Bid, Milestone Billing…….…………………………………………… 12

• Time & Material Billing ……………………………………………………….13

• Time & Expense (screenshots) …………………………………………......14

• Invoicing Customers ……….………………………………………………...18

• Contact Bridgepoint Consulting ….…………………………………..........20

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What is included in NetSuite SRP

• Customer & Contact Details

• Employee Records– Titles, cost, bill rates– Skills, certifications, experience

• Vendor Records

• Service and Expense Items

• Projects & Project Tasks

• Options for Project Setup– Create New– Project Templates– Import form MS Project

• Resource Planning & Allocations

• Track Labor & Expense– Employee Timesheets & Approval– Employee Expense Reports & Approval– Vendor Purchase Orders

• Invoice directly from application– Invoice Review & Approval– Billing Types (Charge, Fix, T&M)– Billing Schedule (Milestone or % Complete)– Revenue Recognition

• Project & Revenue Reporting– View/Report on Project Categories

• Proposed, Active, Closed, (Custom)– Real Time Project Metrics

• % Complete• Resource Utilization• Budget vs. Actual

NetSuite SRP goes beyond PSA!

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Project Reporting

NetSuite SRP• Project Summary

– Cost Budget vs. Actual

– Billing Budget vs. Actual

• Project Task Detail

– Cost Budget vs. Actual

– Billing Budget vs. Actual

• Project Profitability

• Project Charges Forecast

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Project Reporting

NetSuite SRP• Unbilled Time / Cost

by Client

• Project Billing

Reports

• Current Backlog by

Resource

• Estimated Profitability

by Project

• Earned Value by

Project

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Project Reporting

NetSuite SRP

• Time Entry Exceptions

• Utilization by

Employee

• Allocated Utilization

by Project

• Allocated vs. Actual

Hours by Resource

• Many more…

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NetSuite Resource Allocations

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NetSuite Resource Allocations (Search)

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Project Billing Setup

• Billing Types– Charge-Based– Fixed Bid, Interval– Fixed Bid, Milestone– Time and Materials

• Revenue Recognition– % Complete Rule– Fixed Amount, Date or Milestone– Fixed Amount, % Complete– Match Time and Expense Rule

NetSuite SRP

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Project Billing Schedule

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Fixed Bid, Milestone Projects

• Complete required data on Financial Subtab• Select Billing Type and create a Billing Schedule• Select a Service Item to bill

Project

• Create the Sales Order from the Project• Save the Sales Order• Bill the initial Amount (Billing Schedule)

Sales Order

• Record Actual Time by Resource to Project• Compare Actual Project Cost to Estimate

Time Entry

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Time & Materials Projects

• Complete required data on Financial Subtab• Select Billing Type• Select a Service Item on the Task (by Resource)

Project

• Record Time & Expense by Resource to Project• Approve Time & Expense• Post Time to GL (Direct Labor or OPEX)

Time & Expense

• Only approved Time & Expense can be billed• Select Time & Expense by Date Range• Edit Invoice with Concessions or Mark-ups

Invoice Client

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NetSuite Employee Center

*Single click to create a new Timesheet from Employee Dashboard

*Employee views for Projects and Tasks

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NetSuite Weekly Timesheet

Capture Weekly Comments

Move from week to week easily!

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NetSuite Daily Time Entry

Capture Daily Comments

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NetSuite Expense Report

Easy to Use and Easy to Approve!

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Invoicing Customers

NetSuite SRP

• Know what to bill and when

• Eliminate duplicate data entry

• Automate Billing Schedules

• Review and Approve Invoices before sending them to

Customers

• Email .pdf attachment of Invoice

• Bulk Email to Clients

• Custom Invoice Formats

• No Outside CRM or ERP system needed (+)

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ANY QUESTIONS?

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