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2/5/2012

PROMPT Business System

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Project Costing

A TOOL FOR EVALUATION OF COST

Some business organizations require job cost reports to compare their estimates to actual cost. The PROMPT system fills this need.

In addition, the PROMPT system creates the opportunity to look at cost by project or function.

Payroll is the largest expense of many business organizations. The PROMPT system enables the breakdown of payroll cost by BOTH general ledger accounts and job or project numbers.

Likewise, materials cost can be captured by BOTH general ledger accounts and job or project numbers.

Capturing job or project data is not a difficult task. You simply enter the revenue or expense transaction with a job or project number and let the PROMPT system do the rest.

Project Cost Features:

Any business can use the cost system to analyze time and materials cost by project

The cost system is automatically fed by invoicing, inventory control, accounts payable and payroll

Estimates can be entered and revised by job or project

Actual or theoretical cost, such as opportunity cost, not known to the PROMPT system can be entered and maintained

Jobs or projects can remain open as long as required, without regard to closing of calendar or fiscal years

Reports can be printed by job or project with detail or summary information
Overhead rates can vary per job and commissions can be paid per job based on a variety of splits between company and salesperson
Audit trail information is provided to track the revenue or expense back to the source entry

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