Eliminating errors with capital project control software

Jun 24 2015

 

Managing a project and capturing every aspect of expenditure relating to each stage of the project cycle whilst maintaining any number of budgets can prove a time consuming and difficult task if using manual processes such as spreadsheets.

To avoid encountering overspending towards any project, you need to have complete control over cash flows and budgets. A good project management system can automate the process and enable ‘Commitments’ (orders raised, internal charges) and ‘Spend’ (invoices received, journals) to be recorded against budgets for both capital and expense projects whilst also maintaining a detailed Work-in-Progress (WIP) asset register which can optionally transfer capitalised items across to the fixed asset register.

To find out more about Real Asset Management’s capital project control software, please click here.