Working with Project Contracts in Sage Intacct Construction.
For those using the Sage Intacct Construction edition, it is recommended that you start using the Project Contracts function, introduced in 2022, to enter the revenue side of your projects, instead of using the Order Entry module. ETHOSystems has put together a video for our clients HERE >>>
Why should you use the features?
- By invoicing against Project Contracts, you can produce the AIA Invoice form that our clients require.
- Works with the Change Management functions to better track your change orders.
- An easier process for billings.
- You are possibly able to use a Project Manager User, which costs less than a Business User.
- Sage is focusing all future revenue and billing development on these features.
- The Procore Integration for revenue will integrate with Project Contracts. This is to be released in the second half of 2023.
- On the Second Tab, you can see all the information in one place under the Billing Details tab.
For those clients using Order Entry
we have come up with a list of suggestions on how to convert from Order Entry Contracts to Project Contracts:
- Start with new projects in the Project Contracts area and finish your older projects in the Order Entry Contracts area.
- Project Contracts do not post to a custom GL Book, it posts to a Budget instead, so you might need to set up a new budget for Contracts.
- Please test your custom reports and financials since the data is now being pulled from a different area.
- If you don’t see Project Contract on the menu, make sure you have security rights since it’s a new menu option. Note: you might have to scroll down in the menu since it’s the last item in the middle column.
If you have any questions about setting up Project Contracts and how to set them up, please contact us here at ETHOSystems!
