Project Costing with Sage 50 Accounts

Not the worlds sexiest title for a post, I know, but Sage 50 Accounts Projects is an overlooked feature of Sage 50 Accounts in my opinion.



Once you can identify a piece of work that can be thought of as a project, and the customer has accepted a quotation or estimate, you can create a project within Sage 50 Accounts.

The Projects feature is enabled in Company Preferences, Parameters and the preferences can be changed in Configuration Editor, Project Costing.

What Project Costing allows you to do is:

1. Create a project with a start and end date.
2. Enter prices quoted.
3. Record budgets.
4. Record costs for materials, labour and project only costs against the project.
5. Record project only costs - for example work done by contractors.
6. Create structures - the ability to link the project into a multi-project structure.
7. Allocate stock to the project.
8. Record invoices and revenue received against the project.
9. As the project progresses you can analyse costs and compare progress against budgets and the quotation.

In use, all the user needs to do is ensure that when they record supplier invoices and customer invoices they use the correct project number, and cost code.

So there you have it, a quick look at Project Costing. Do please contact me if you'd like to know more.