PROJECT ACCOUNTING

Making the business of consulting infinitely easier and immensely more lucrative

GroupThink Project Accounting

TEAM BASED

"PRE-ACCOUNTING"

Accounting systems are built for accountants, not business owners. Project accounting, on the other hand, is much simpler and provides a more detailed snapshot of your company, your projects and your team. New insights are created every day as people work. This knowledge changes behaviours and gives individuals and teams the power to truly manage projects effectively.

 

GroupThinq is the missing step BEFORE your accounting system.

Control permissions in GroupThinq by setting the "role" of every individual. Owners, accounting, managers, project managers, and staff, all have different levels of access to data, analytics and reporting.

Start with Permissions

GroupThink Permissions

1

Easily add a project, assign a PM, a supervisor, a client and a project team.

Add a Project

GroupThink Projects

2

Those with permission can access the project fees which holds all the sensitive financial information of the project including fees, proposals, scope changes, purchase orders, expenses and division allocations.

Project Financials

GroupThink Financials

3

Easily create purchase orders for contractors and authorize bill payments through GroupThinq.

Purchase Orders

GroupThink Purchase Orders

4

Why burden controllers with chasing staff for invoices and timesheets? Instead, let project managers control invoicing for their own projects. Controllers and owners are notified of every new invoice. Overdue accounts are visible to managers, without monthly accounting reports.

Create & Track Invoices

GroupThink Invoices

5

View a summary of all invoices for each project including remaining to bill.

Invoice Summary

GroupThink Invoices

6

See how much time staff have spent on every phase of the project. In GroupThinq, you can see the direct profit/loss of every phase; making it easier to detect and correct problems much earlier. Auto-notifications are sent to senior staff as soon as a phase budget is exceeded.

Project Status & Phase Profit-Loss

GroupThink Status

7

Set the start date,  due date, and budget/hours assigned to each phase. Track projected vs actual revenue throughout the project.

 

You can even create a phase for "pre-GroupThinq" work so that time spent before you started GroupThinq can be accounted for.

Project Phases

GroupThink Phase

8

SMART TIMESHEETS

Successful project accounting starts with easy to use timesheets. "Smart" timesheets provide your entire team with instant feedback on the financial status of each phase of the project. They also notify managers of any phase overages as they happen.

9

Timesheets Simplified

See all your weekly projects at a glance including progress stats, % billable and project time summaries. Assign time to each phase of the project.

Your team can check the status of a project from their timesheets. Everyone can see if a phase goes over-budget so teams start to self-regulate with greater efficiency.

Project Timesheet Status Summary

GroupThink Timesheet Summary

10

Everyone can run a project time report and filter time reports with ease.

Timesheet Reports

GroupThink Timesheet Reports

11

Assign a timesheet approver and easily approve or reject timesheets with a simple click.

Timesheet Approvals

GroupThink Timesheet Approvals

12

EXPENSE REPORTS

An integrated project management tool should incorporate expenses for the entire team, tagging each expense to a project.

Tagging expenses to jobs and submitting expense reports is easy in GroupThinq.

 

In-office expenses like printing or binding is also easily tracked in GroupThinq. Create your own list of in-house expenses.

Expense Reports

GroupThink Expense Reports

13

Track expenses for every job and submit to your controller for approval and payment. You can even attach real receipts to your expense report.

Expenses

GroupThink In House Expenses

14

Expense reports are easy to approve or reject by controllers. Staff are notified instantly.

Expenses Approvals

GroupThink Expense Approvals

15

SEE NEXT FEATURE....

Collective Management

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GroupThink Permissions
GroupThink Projects
GroupThink Financials
GroupThink Purchase Orders
GroupThink Invoices
GroupThink Invoices
GroupThink Status
GroupThink Phase
GroupThink Timesheet Summary
GroupThink Timesheet Reports
GroupThink Timesheet Approvals
GroupThink Expense Reports
GroupThink In House Expenses
GroupThink Expense Approvals
GroupThink Permissions
GroupThink Projects
GroupThink Financials
GroupThink Purchase Orders
GroupThink Invoices
GroupThink Invoices
GroupThink Status
GroupThink Phase
GroupThink Timesheet Summary
GroupThink Timesheet Reports
GroupThink Timesheet Approvals
GroupThink Expense Reports
GroupThink In House Expenses
GroupThink Expense Approvals
GroupThink Project Accounting
GroupThink Permissions
GroupThink Projects
GroupThink Financials
GroupThink Purchase Orders
GroupThink Invoices
GroupThink Invoices
GroupThink Status
GroupThink Phase
GroupThink Timesheet Summary
GroupThink Timesheet Reports
GroupThink Timesheet Approvals
GroupThink Expense Reports
GroupThink In House Expenses
GroupThink Expense Approvals