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AutoCount- Project Account

Complete Guide for Enhanced Financial Tracking

Are you searching for an efficient way to track your finances by projects? The AutoCount Project Account Module is the ultimate tool for businesses needing detailed project-based accounting. Whether you’re in construction, legal services, or event management, this module allows you to manage unlimited project hierarchies, tag transactions, and generate insightful financial reports effortlessly. In this article, we’ll explore the AutoCount Project Account Module, its features, applications, and step-by-step implementation to help you make the most of it.

(CN) AutoCount – Project Account Module 1.0

Learn how to master the AutoCount Project Account Module with this video. Explore its features and gain insights into customizing reports efficiently.

What Is AutoCount Project Account Module?

The AutoCount Project Account Module is an advanced accounting feature that allows businesses to organize their financial data by projects and sub-projects. With its powerful capabilities, you can precisely track transactions, analyze costs, and determine revenue for each project. Whether managing profitability or ensuring refunds for clients, this module provides accuracy and clarity, ensuring your business operates seamlessly.

Why Use AutoCount Project Account Module?

  • Manage Client Accounts Seamlessly

    Ideal for law firms, it allows you to track client accounts, manage balances, and ensure proper refunds for unused amounts.

  • Analyze Profit and Loss Effectively

    The module enables businesses to evaluate the financial performance of each project. Generate Profit and Loss Statements tailored to individual or combined projects for accurate insights.

  • Track Events and Campaigns

    Event planners and marketing agencies can assign each event or campaign as a project to track budgets, expenses, and revenues without mixing data from other projects.

  • Differentiate Branch and Department Finances

    For multi-branch businesses, this module separates financial activities by location or department, making it easier to manage and compare performance.

Key Features of AutoCount Project Account Module

Unlimited Hierarchies for Project Organization

The module supports unlimited project and sub-project levels, making it perfect for complex businesses.

 Example

A construction company can assign a project to each site and further divide it by tasks like materials, labor, and subcontracting.

Versatile Transaction Tagging

Tag transactions seamlessly across key modules such as:

General Ledger (G/L)

Accounts Receivable (A/R)

Accounts Payable (A/P)

Stock, Sales, and Purchases.

Advanced Reporting Capabilities

Generate detailed reports, including:

  • Profit & Loss Statements.
  • Project Profit Margin Reports.
  • MTD (Month-to-Date) and YTD (Year-to-Date) comparisons for better decision-making.

Budget Comparisons

Set up budgets for each project and compare actual performance to identify variances, helping refine your financial strategies.

How to Use AutoCount Project Account Module

1. Setting Up Projects

Top-Level Projects

  • Navigate to General Maintenance > Project Maintenance > New Top-Level Project.
  • Enter the project name (e.g., IPOH, KL, PENANG) and save.

Sub-Projects

  • Add sub-projects under the top-level project by clicking New Sub-Project.
  • Use sub-projects to organize detailed tasks or phases within the main project.

Note

Tasks within each sub-project can be further broken down as needed. Top-level accounts are restricted from performing data entry tasks directly once a sub-account is created, regardless of the hierarchy level. This means that parent projects with sub-projects cannot handle direct transactions.

2. Managing Transactions

Assign project codes while entering transactions. Supported transaction types include:

  • Purchases: Allocate costs like materials or subcontractor payments.
  • Miscellaneous Expenses: Enter data such as salaries and commissions.

Example:

  1. Navigate to Purchase > Purchase Invoice > New.
  2. Add items and select the relevant
  • After creating a project, where can data be entered? Data entry is possible across all relevant modules. Every account transaction provides an option to specify the associated project.

3. Carrying Forward Opening Balances

  • Navigate to G/L > Opening Balance Maintenance.
  • Assign balances to projects for continuity from the previous fiscal year.
  • Avoid null projects to maintain data accuracy.
  • After creating a project, where can data be entered? Data entry is possible across all relevant modules. Every account transaction provides an option to specify the associated project.

Reports in AutoCount Project Account Module

1. Profit and Loss Statements

Filter reports by project for a detailed view of financial performance.

  • Navigate to G/L > Statement of Comprehensive Income / Profit and Loss Statement
  • User can choose the projects by filter.
  • compare with multiple project.

2. Null Project Reports

Identify and correct transactions that have not been assigned to any project.

  • Tick the (null) project.
  • It will show uncategorized project.

Transaction Review

Check which transactions do not have projects assigned due to oversight or data entry mistakes. To update a project assignment, simply click the transaction amount and select the correct Project .

3. MTD and YTD Comparisons

Compare Month-to-Date and Year-to-Date performance to track progress effectively.

  • Choose MTD/YTD and select the project, then click Preview.

Project Range & Report Format

Project Range: All projects will be displayed as no filters are applied.YTD/MTD amounts shown will reflect your selected project range.
Report Format: Select specific projects to view their Profit & Loss statements.

  • It will show MTD and YTD Comparisons.

  • To investigate transaction details:

    1. Click any amount to view.
    2. Double-click the highlighted row for more information.

    Need to verify an amount? Simply click the amount to access the original document and check its source. This helps you confirm accuracy and trace any discrepancies.

Note

The YTD purchases shows $41,500, while Projects A, B, and C total only $46,505.21. This difference occurs because the 'no filter' range includes all transactions, including those without assigned projects (null values).

4. Project Profit Margin Reports

  • Check profitability by navigating to G/L > Project Profit Margin Inquiry.
  • Here you can review the Profit/Loss status for each individual project, allowing you to see which projects are profitable and which are operating at a loss.

5. Ledger Report

  • Navigate to G/L > Ledger Report.
  • Enable project view by checking “Show Projects” and selecting your project.
  • Click Inquiry, then Preview > Project Ledger > OK.
We provide different report formats for your selection.

(CN) AutoCount – Project Account Module 2.0

Explore the advanced features of the AutoCount Project Account Module. Gain insights into generating detailed reports, automating processes, and analyzing project profitability with precision.

Advanced Reporting Options

1. Actual vs Budget Comparisons

Compare actual expenses against budgets for each project to spot discrepancies.

The Budget Module is a separate, distinct module. Although it operates independently, it is commonly packaged together with the project account module for ease of deployment purposes. Custom budget reports allow businesses to gain deeper insights into financial performance and make data-driven fiscal decisions.

  • Navigate to G/L > Statement of Comprehensive Income / Profit and Loss Statement
  • At profit and lost report, select ‘This Year vs Year Budget’ at report format.

2. Multi-Year Profit & Loss Reports

Generate multi-year comparisons for long-term financial analysis by customizing report formats.

3. Transactional Profit and Loss Reports

View detailed, transaction-level insights for better project management.

Note

View detailed transaction breakdowns including raw material purchases and subcontractor information.
Access complete project details in one consolidated view without navigating through multiple screens.
Historical data available beyond 12 months for comprehensive project analysis.

Default Settings to Avoid Errors

1. Account Book Defaults

Many users are unaware of this important setting that helps reduce errors. Without it, transactions might be recorded without project numbers and end up categorized as null/blank.

  1. Navigate to Tools > Options > General > Miscellaneous.
  2. Set a default project for all transactions to reduce manual errors.

Note

Select your most frequently used project as default for maximum efficiency.

  • When creating a new transaction, the system will automatically populate the Project field with your default selection

Key Benefits Of Default Project Setting

Time-saving

No need to manually select projects for each transaction

Error prevention

Eliminates risk of missing project assignments

Efficiency

Perfect for companies with majority transactions under one project

2. User-Specific Defaults

Assign default projects to users to ensure their transactions are automatically tagged.

  • Navigate to General Maintenance > User Maintenance
  • Select the user (row will highlight in blue) and click ‘Edit’.

Note

User-specific settings take priority over account book settings. If no user-specific settings exist, account book settings will apply. If neither is set, fields remain unconfigured to avoid errors. Configure settings by department or project for clarity.

(CN) AutoCount – Project Account Module 3.0

Master the advanced settings of the AutoCount Project Account Module. Customize workflows, configure detailed user permissions, and optimize settings to fit your business needs.

 

Advanced Features of AutoCount Project Account Module

Navigate to Tools > Option.
Click G/L > G/L Posting.

1. Allow Not Balance by Project in Journal Entries

This feature allows unbalanced project allocations within journal entries while maintaining overall balance.
Example: Share salaries or common expenses across multiple projects.

2. Always Ask for Project Assignment

Prompts users to tag every transaction with a project to prevent null entries and ensure data accuracy. It remind users to select a project, preventing transactions from defaulting to a null project.

3. Post by Project in Refunds and Payments

Override original project codes to allocate refunds or payments to a different project.

Note

"Post By Project and Department in Payment Contra Refund" setting is designed for AutoCount to manage financial transactions (payments, contras, and refunds) consistently based on user-selected project, even if the project associated with the original invoice differs. This setting ensures that the project/dept code in the current transaction takes precedence, offering flexibility while maintaining control.

4. Credit Note Allocation

Similar to Project and Department posting in Payment, Contra, and Refund, this option is specifically for Credit Notes (CN).
  • To activate, simply tick ‘Post by the Project and Department in CN‘.

5. Automatic Rounding Adjustments

Allocate rounding differences to the first project in an invoice for consistency.

  • Bellow is scenario when difference when ticked and unticked at A/R invoiced entry.
Unticked
Ticked

Ticked

  • Rounding adjustments automatically link to the first listed. project/department
  • Example: Project HQ (first item) receives the adjustment.
  • Ensures complete project-based financial tracking.

Unticked

  • Rounding adjustments remain unlinked to any project/department project/department.
  • Adjustments (like RM 0.02) are posted independently.
  • May affect project reporting clarity as adjustments are standalone.

Key Difference:

Unticked: Adjustments are independent transactions
Ticked: Adjustments are assigned to first project, maintaining accurate project reporting

Other Advanced Settings

1. Hide Inactive Projects for Cleaner Reports

Exclude completed or inactive projects from financial reports for clarity.

  • Navigate to Tools > Option
  • Tick ‘Hide inactive Project / Department for comparison Financial Report’.

2. Reallocate Purchases Across Projects

Assign costs like materials or shared services to the correct projects post-transaction.

  • Navigate to Tools > Options.
  • Click on Invoicing > Customize Invoicing 2.
  • Tick the option ‘Enable ‘Post Reallocate Purchase By Project’ in Invoice, Cash Sale, D/N, and Stock Issue’.

Note

This feature redistributes general purchase expenses to specific projects based on usage, ensuring accurate cost tracking and better project profitability analysis. Auto-generated journal entries streamline accounting, while the system auto-calculates item costs. Ideal for managing project budgets efficiently.

Related Modules and Plugins

Multi-Location Module

Track inventory levels across branches and locations, helping businesses manage stock efficiently.

Department Module

Analyze expenses and revenues by department for deeper financial insights.

Aging by Projects Plugin

Generate aging reports for overdue transactions tied to specific projects.

Streamline Your Accounting Process

Find the Perfect Plan to Optimize Your Business Finances

Discover Plans

Conclusion

The AutoCount Project Account Module is a versatile and essential tool for businesses managing multiple projects. From tracking transactions to generating detailed reports, its advanced features ensure financial accuracy and efficiency. By implementing this module, you can streamline operations, reduce errors, and gain valuable insights into your financial performance.

FAQs

Yes, the module supports unlimited levels of sub-projects.

Enable the Always Ask for Project Assignment setting to ensure every transaction is tagged.

Yes, you can use custom report columns to analyze data across multiple years.

Absolutely! The module can separate financial activities by branch or department.

Enable Allow Not Balance by Project in Journal Entries to allocate shared costs flexibly.

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