Project Accounting Software

Archive for November, 2010

Would a computing project need some sort of “accounting system” to keep track of all assumptions that the?

November 30th, 2010 | Author: admin

success of the project depends on ?

Posted in Project Accounting | Tags: Accounting, assumptions, computing, keep, need, Project, some, sort, system, track, would | 1 Comment »

5 Questions to Ask IT Before a Project Kicks Off

November 28th, 2010 | Author: admin

5 Questions to Ask IT Before a Project Kicks Off
It’s often useful to interview customers to understand their perspectives about their suppliers. In these discussions, open-ended questions about supplier “success stories” and “horror stories” can prompt enlightening replies. Answers in the latter category invariably connect to some supplier failure to deliver, an implementation problem that had implications for the customer’s business. And a …

Launch Sage 2010 – Neil Jones, Transform Medical Group

November 26th, 2010 | Author: admin

*PLEASE NOTE THAT THIS IS A SHORTENED VERSION OF THE VIDEO – PLEASE CONTACT US TO VIEW THE FULL PRESENTATION* Transform Medical Group Ltd is Britain’s number one cosmetic surgery group with over 30 years experience and 260000 customers. In 2009 they invested in Sage 200 Financials, Commercials and Project Accounting to provide them with the visibility of their clinics, hospitals, consultants and customers needed to make key business decisions. Hear how the system has benefited their business and the future plans for their Sage solution.

Posted in Project Accounting | Tags: 2010, Group, Jones, Launch, Medical, Neil, Sage, Transform | No Comments »

A BillZone Demonstration

November 24th, 2010 | Author: admin

This is a video showing of some of the benefits of BillZone, including a quick product demonstration. The demonstration shows how end-users put their time in against projects while working in the field. More info at www.billzone.com

Posted in Project Accounting | Tags: BillZone, Demonstration | No Comments »

Internet marketing software – Internet marketing softwares

November 24th, 2010 | Author: admin

The Internet marketing softwares we develop are designed for both comfort and success. We are web and software designers, SEO and I. marketers, we develop on demand products. Fully Re Brandable softwares, keyword software, Twitter software, CB software.
Internet marketing software – Internet marketing softwares

Posted in Project Accounting Software | Tags: Internet, Marketing, Software, softwares | No Comments »

Costamare Inc. Reports Third Quarter 2010 Results

November 22nd, 2010 | Author: admin

Costamare Inc. Reports Third Quarter 2010 Results
ATHENS, GREECE–(Marketwire – November 22, 2010) – Costamare Inc. (“Costamare”) ( NYSE : CMRE ), a leading international owner of containerships, today reported unaudited financial results for the period ended September 30, 2010.

SAP Business One Job Costing by Enprise

November 20th, 2010 | Author: admin

A full Day in the Life demonstration of this integrated Project Accounting and Job Costing solution.

Posted in Project Accounting | Tags: business, Costing, Enprise | No Comments »

Order Booking for Projects FROM POME BY GAUTAM KOPPALA VT

November 18th, 2010 | Author: admin

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Home Page > Business > Management > Order Booking for Projects FROM POME BY GAUTAM KOPPALA VT

Order Booking for Projects FROM POME BY GAUTAM KOPPALA VT

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Order Booking for Projects FROM POME BY GAUTAM KOPPALA VT

By: GAUTAM KOPPALA

About the Author

With over ten years, track record of successful leadership, excellent results through strategic skills in driving revenue and profit growth. Demonstrated ability to identify and trouble shoot critical issues impacting productivity, cost, distribution, marketing, Strategic positioning, sales and financial operations, with innate ability to build and maintain strong client relationships in operations. Expert in distilling and managing processes, enhancing internal structures, and promoting multi-skilled team competencies via nurturing mentorship and inspirational leadership. Engagements have spanned operational, strategic, technological and change management roles. Academically, I am a cum laude graduate with a Bachelor of Technology degree in Electrical and Electronics Engineering (B-Tech E.E.E.) and a post graduate in Masters in Human Resources Management (M.H.R.M.) and Masters of Foreign Trade (M.F.T.). As you will see my Post Graduation’s were been studied part-time, as well as working full-time as an Engineer. I feel that this demonstrates my ability to maintain dedication, motivation and enthusiasm for a project management over a long period of time. In addition, balancing full-time work with study has perfected my time-management and organizational skills. I believe that my college degrees and gamut certifications in combination with my extensive broad-based work experience along with my drive, resourcefulness and determination, would make me an excellent candidate for a senior management position with any company. Highlights of my background include Operations related Commercial, Supply chain, Sales with a magnificent experience in Project management, technically oriented towards Automation and Security Systems in Industrial and Building sectors. Presently, writing a book on Projects and Operations Management (comprise of 12 volumes, 6K pages), and awaited for the reputed publications. These books can be checked in Google books and scribd websites too.

(ArticlesBase SC #2266719)

Article Source: http://www.articlesbase.com/ – Order Booking for Projects FROM POME BY GAUTAM KOPPALA VT

Order Booking:

This is an optional order booking procedure used to book Project Jobs that are determined to be low-risk, with a Contract Value, and contain approved terms and conditions. A simple Order Acknowledgment letter is provided to the customer in lieu of extensive contract negotiations and the Regional Contract Manager handles any customer disagreements as the job proceeds through construction.

This policy is applicable only to Install or Service Jobs with a contract value.

This procedure Requires a bid on approved Industry Standard Terms & Conditions.

The Sales Rep decides whether he/she would like to use the procedure to book a job and submits request (including full Booking Package – signed Purchase Order, Honeywell bid and CAP) to Contract Manager (³ $ specified value) or Booking Admin.

The Contract Manager (³ $ specified value) or Booking Admin (< $ specified value) determines that the job meets the conditions of the Policy i.e. :

Bid must be on approved Industry Standard Terms & Conditions;

Booking Admin sends the template Order Acknowledgement to the customer. This template must be approved by Contract Management.

Booking Admin ensures approved job is booked.

If the customer has questions or concerns regarding the Order Acknowledgement and our stated terms and conditions, the Contract Manager will work with the customer to reach a mutually satisfactory agreement as the booked job proceeds through construction.

Order confirmations:

Written Order confirmations are to be issued to acknowledge Purchase Orders, Contracts, Letter of Awards from customers and would be wholesome to send an order acceptance signed by sales execution and controller pointing out deviation if any, from agreed terms & conditions.

This acknowledgment must contain.

Claim for advance payment if applicable
Deviations not agreed by sales
Overall Project execution schedule

Project Reporting under POC:

Model with the revenue recognition following the rules of the POC method (Percentage of Completion) on cost to cost basis adopting would be salubrious. The POC chapter would explain about the features of POC.

Project Account for each Order:

For each individual order, a project account (WBS) and Order Booking Document must be opened in the Enterprise Resource Planning (ERP) system, immediately upon receipt of the purchase order/ Contract from the customer. For different domain contracts, under those domains wise WBS elements to be opened, however the sales order will be one and based on customer contract.

Order Booking Document Sample Format:

GAUTAM KOPPALA ORG

ORDER BOOKING DOCUMENT

Project Name

Booking Ref

Div/Vert Mrkt

CAP No.

Financial Summary

Customer Name

Customer PO No.

In Order Currency

List Price

0.00

End User

Project Start Date

Local Currency

In US Dollars

Selling Price

0.00

Payment terms

Project End Date

Local Currency

In US Dollars

Direct Cost

-

Project No.

Warranty Period

Margin

Earning Billing Factor

Exch. Rate – USD

Approval Check List

PO Ref

Revenue

Cost

CAP Process Completed

Yes / No / NA

Terms &Conditions approved by Contracts Mgr

Yes / No / NA

Confirmed order received from Customer

Yes / No

Approval Received from SBU

Yes / No

Sales Estimate Attached to this Document

Yes / No

Estimate Reviewed / Approved by Eng

Yes / No / NA

Order type:

Line of Business Projects

Line of Business Add on Orders

Mini projects

Spare parts/ Others

Maintenance contract

Spot Service

Small Works/Channels

Add any comments if required:-

Account Manager

Date:

Sales Leader

Date:

BOOKING ADMINISTRATOR

Date:

Documents to be attached:

1. Copy of Purchase order

2. Copy of CAP Approval / Sign off

3. Initial sales estimate as per Estimate Format

Sales Margin:

Causes of not attaining Sales Margin, mentioned in the order booking:

ü New items considered, due to flaw in design.

ü Wrong Ordering

ü Over run on Bought outs

ü Overrun on Site Preparations

ü Matching the Customers Requirements

ü Short Supplies

ü Short coming in Logistics

ü Short coming in Indents

ü and others

Over Head Costs:

Causes of Over Head Costs, mentioned in the order booking:

ü Oral commitments

ü Commercial/ Logistics Hurdles

ü Unproductive like excessive Demo or Publicity costs

ü Too many site trips by too many people

ü Diversion costs

ü Communication Costs

ü Poor Projections

ü Transit damage due to long storage of material

ü Quality Costs

ü Less Control on cash flows

ü Others

Orders Report

Short Cycle Orders Report

The Orders Report provides high-level new orders and backlog orders information by SBG and SBU. As defined in this report, “orders” are sales revenues from customer orders received. Based on the nature of the sales cycle of Company’s lines of business, two separate reports are issued: Short Cycle Orders Report and Long Cycle Orders Report. The data that is captured in these reports are compiled from each SBG’s corresponding ERP system.

The Short Cycle Orders Report captures new orders by SBG and for specific SBUs whose sales cycle is short. The report includes actual orders received Quarter-to-date (QTD), an orders forecast for the full quarter; and shows comparisons vs. latest forecast, and Prior Year (PY). The Short Cycle Order Report is a weekly report.

The Long Cycle Orders Report captures backlog orders information by SBG and for specific SBUs whose sales cycle is long, as in the case where sales are tied to long-term contracts. The report includes backlog orders by month from the beginning of the current year; and shows comparisons vs. PY. The Long Cycle Orders Report is a monthly report.

Key Financial Metric(s):

The following metric is captured in the Long Cycle Orders Report:

Current Month Ending Backlog

+ Ending backlog last month

+ New orders

– Shipments

+ Other Orders

= Current Month Ending Backlog

Sales Flash Report

The monthly Sales Flash Report provides high-level external sales and operating revenue data. The report includes: segment revenue information by SBG and SBU for current month, quarter-to-date (QTD) and year-to-date (YTD); and shows comparisons vs. latest forecast, Annual Operating Plan (AOP) and Prior Year (PY).

Key Financial Metric(s):

Revenue Growth %

Variable Margin % (

Variable Contribution

Net Sales & Operating Revenue – External

Gross Margin %

Gross Profit

Net Sales & Operating Revenue – External

The Total Fixed Cost grouping on the Income Statement Report is made up of all other operational costs that are not considered variable costs including Corporate approved adjustments. This cost grouping is used exclusively for internal management reporting purposes and is only referenced on the Income Statement Report. Total Fixed Cost should not be confused with the term Fixed Cost of Goods Sold defined in the Corporate Management Income Statement Chapter. Total Fixed Costs is the sum of the following cost components:

+ Total Fixed Cost of Goods Sold

+ Other Manufacturing Costs

+ Distribution & Logistics Expense

+ Other Operating Expense

+ Research, Development & Engineering Expense

+ Selling, General & Administrative Expense

+ Corporate Assessment (COGS) Pre Tax

+ Corporate Assessment (SG&A) Pre Tax

+ Margin Adjustment Pre Tax

+ Defined Pension Adjust Pre Tax

= Total Fixed Costs

“Contract” – these involves having maintenance contracts with the customer to perform work for a set period of time, usually one year or more. The revenue for the nominated time period is a set figure. The cost may be an estimate only.

“Spot” – these jobs are smaller in value and shorter in timeframe. Order value is generally less than US$20K and for unexpected less than 5 months.

For the purposes of this procedure the following definitions have been highlighted:

Spot is defined as work that is small in value, delivered in a short period of time (considered 1 month) and does not involve a sales representative bid/estimate process. For spot work, revenue should be recognized based on billings and costs recognized as incurred. Cost may be accrued if it is determined that the revenue has been recognized with incomplete cost recognition.

All orders that do not fit the Spot, Parts or Periodic definition. This type of job requires Project Management planning and controls. Is usually delivered over an extended period of time and includes both labour and parts provision.

POME LIGHTER VEIN:

You see a gorgeous girl at a party.
You go up to her and say, “I am very rich. Marry me!”

That’s Direct Marketing.

You’re at a party with a bunch of friends and see a gorgeous girl.
One of your friends goes up to her and pointing at you and says,
“He’s very rich. Marry him.”

That’s Advertising.

You see a gorgeous girl at a party.
You go up to her and get her telephone number.
The next day you call and say, “Hi, I’m very rich. Marry me.”

That’s Telemarketing.

You’re at a party and see a gorgeous girl.
You get up and straighten your tie; you walk up to her and pour
her a drink.
You open the door for her; pick up her bag after she drops it,
offer her a ride, and then say,
“By the way, I’m very rich. Will you marry me?”

That’s Public Relations.

You’re at a party and see a gorgeous girl.
She walks up to you and says, “You are very rich.”

That’s Brand Recognition.

You see a gorgeous girl at a party.
You go up to her and say, “I’m rich. Marry me”
She gives you a nice hard slap on your face.

That’s Customer Feedback!!!!

Gautam Koppala,

POME Author

Retrieved from “http://www.articlesbase.com/management-articles/order-booking-for-projects-from-pome-by-gautam-koppala-vt-2266719.html”

(ArticlesBase SC #2266719)

GAUTAM KOPPALA -
About the Author:

With over ten years, track record of successful leadership, excellent results through strategic skills in driving revenue and profit growth. Demonstrated ability to identify and trouble shoot critical issues impacting productivity, cost, distribution, marketing, Strategic positioning, sales and financial operations, with innate ability to build and maintain strong client relationships in operations. Expert in distilling and managing processes, enhancing internal structures, and promoting multi-skilled team competencies via nurturing mentorship and inspirational leadership. Engagements have spanned operational, strategic, technological and change management roles. Academically, I am a cum laude graduate with a Bachelor of Technology degree in Electrical and Electronics Engineering (B-Tech E.E.E.) and a post graduate in Masters in Human Resources Management (M.H.R.M.) and Masters of Foreign Trade (M.F.T.). As you will see my Post Graduation’s were been studied part-time, as well as working full-time as an Engineer. I feel that this demonstrates my ability to maintain dedication, motivation and enthusiasm for a project management over a long period of time. In addition, balancing full-time work with study has perfected my time-management and organizational skills. I believe that my college degrees and gamut certifications in combination with my extensive broad-based work experience along with my drive, resourcefulness and determination, would make me an excellent candidate for a senior management position with any company. Highlights of my background include Operations related Commercial, Supply chain, Sales with a magnificent experience in Project management, technically oriented towards Automation and Security Systems in Industrial and Building sectors. Presently, writing a book on Projects and Operations Management (comprise of 12 volumes, 6K pages), and awaited for the reputed publications. These books can be checked in Google books and scribd websites too.

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Article Tags:
gautam koppala, sales, marketing, projects

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