Events & News
FirstBIT Accounting made better with new Project Costing feature

FirstBIT Accounting made better with new Project Costing feature

BY FirstBit | Published 12 February 2019 | Updated 10 August 2022
REVIEWED BY FirstBit
381

One of the most common challenges encountered by businesses is the failure to estimate expenses correctly. Misestimating costs can lead to staggering complications in every project.

To resolve this, First BIT is pleased to announce the release of its new module, Project Costing, which aims to help project managers in staying on top of the projects they handle.

With the Project Costing module, project managers can now have transparent and up-to-date information on projects to help them make profitable decisions. Below is the information that can be generated from the new add-on module:

• Planning of project revenues and costs
• Detailed analysis of project revenues and costs
• Project cash flow analysis
• Project total cost calculation with indirect costs allocated
• Monitoring of the key project indicators

Some of the features of this module include:

• Keeping a record of key information on each project, revenues and costs by project, purchases and sales by project, and cash flows by the project.
• Management of project cash flow management, project profitability management, and purchasing and sales management.
• Analysis of financial indicators for the project.
• Planning project budgets.

The success of a project can most closely be defined when business objectives are achieved within the set budget. For this reason, it is very important to plan and manage project finances accordingly.

Learn how the new Project Costing module can help your business. Watch First BIT’s online webinar which aims to help businesses in estimating and managing project costs, revenues, and budgets for their projects. Or contact us at +971 639 69 69
Reviews
Name: Ivan
| Date of creation: 9 June 2022
Review: Cool article, FirstBit! Everything is clear, detailed, understandable! And most importantly, after reading, there were a lot of ideas for promoting my blog !!! Thank you so much!
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