Lengthy business development and engineering cycles require effective cost tracking, optimized supervisory controls, and procedures that insure compliance and accuracy. The strong integration of the VISIBILITY.net Financial Management suite and its reporting and analysis capabilities allows companies to manage and monitor financial performance in real-time. Most engineering projects involve progress payments and retentions or holdback. In this environment, being able to ensure that billing is done in a timely manner and being able to accurately predict cash flow is critical. VISIBILITY.net Financial Management functionality provides customers with a solution that addresses all financial management needs.
General Ledger & Financial Consolidation
The VISIBILITY.net General Ledger provides the tools to measure performance against budget at individual levels including project, department and account levels based on either actual or standard cost. Complete support for multi-entity businesses is built in assuring every organization the ability to conduct and manage business within any combination of single or multiple business hierarchies.
Product costing provides for the robust calculation of standard costs. Standard cost versions can be maintained by entity, warehouse and operating budget. Labor variations are supported by warehouse and part revision dependent routings.
Revenue Recognition and Installment Billing
Automate the generation of accounts receivable invoices based on user defined installment billing templates. These templates allow for timed generation of invoices in relation to order progress based on predefined business specific event triggers.
Project Accounting and Management
The VISIBILITY.net Project Accounting module together with fully integrated project management capabilities, provides the tools needed to manage all projects on time and within budget. The Project Accounting module extends into every module of the system, providing the means to manage on a project basis. Additionally, it also enables each department to operate optimally with a mix of project and non-project work. Project Accounting is a cost collection and planning tool.
Work order and sales order transactions accumulate costs to Work In Process and Cost of Goods Sold ledger accounts. Cost Accounting delivers real-time standard to actual analysis. Cost Accounting provides a number of estimates to complete/ estimate and complete cost analysis reports.