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Benefit from effective financial management with Coretime

Effective financial management of projects is dependent on having the data to hand which you need to act upon. Coretime is a powerful project accounting tool which allows you to view Work in Progress in an instant and control your invoicing schedule.
 
Within Coretime, Work in Progress can be defined as the value of work on projects which has been completed but which has not yet been billed. This definition can vary depending on whether you have clients who operate on a fixed fee or retainer basis or on a time and materials basis. Coretime is able to allocate billing determined by the way you wish to invoice your clients.
 
Coretime allows you to view your Work in Progress and invoiced work and easily assess the appropriate items which are completed and ready for ‘tagging’ for invoicing. It allows you to raise an invoice immediately within the system with invoice backing notes if required. Integration with Sage Accounts packages ensures no duplication of effort.

Topline financial summary information automatically calculates the Percentage Complete on a project and gives you an immediate overview of Debtors. Coretime gives you all your key financial data in one system to ensure that you can keep your billing cycles as short as possible and control the debtor position on your projects.

Below are some of the features which help you control the financial aspects of your projects:

Immediate visibility of WIP 

  • Value of unbilled work
  • Value of WIP
  • Value of work ‘tagged’ for invoicing
  • Budgeted value
  • Percentage of budget which is unbilled
  • % of budget which is Work in Progress

View current Debtor position 

  • View raised invoices
  • Export into Sage 50 or Sage 200
  • Export payments into Sage 50
  • Import payments from Sage 200 

Rapid invoicing

  • Tag items for invoicing
  • View past invoicing points
  • View profitability at an invoice level
  • Create Draft Invoices for approval
  • Generate the invoice immediately ready for issuing
  • View invoices raised within the WIP screen
  • Batch Email automatically 
  • Post to Accounting system


Control value of WIP 

  • Generate a job report
  • Analyse by billed versus unbilled jobs
  • Biew WIP as unbilled items as well as from on a revenue recognition / % complete basis
  • See Aged WIP and WIP at a date point

Invoicing is easy with Coretime.

Invoicing within Coretime is easy and removes duplication of effort. Projects can be quickly invoiced at different stages, by phase or by activity. The invoices can be quickly distributed via email to your Clients. These invoices can then be posted automatically to your accounting system.

An integrated debtors’ ledger ensures you can always keep track of outstanding invoices with real-time information. The Coretime invoicing process saves time, improves accuracy, removes error and speeds up the entire invoicing process. A comprehensive suite of reports covering every aspect of financial management is available as standard. For busy Senior Managers dashboard functionality delivers key 'hot button' info for monitoring projects.
The Coretime invoicing process:
  • Employees log time and expenses within Coretime
  • The billable items by project, individual or multiple employees can be viewed
  • Tag any items to be billed using clickable check boxes
  • Use Template Invoices to accelerate invoice production
  • Create Draft Invoices for Project Managers to approve
  • Click on ‘Invoice’ to add to a customised invoice proforma with full address and logo
  • Choose to enter an invoice description manually or use a pre-loaded invoice description from a drop down list to save time
  • Allocate to a nominal code using a dropdown list of codes or automate this process by using the pre-loaded invoice descriptions which recognise which nominal code to use
  • Use the option to manually enter a final invoice amount where required
  • Enter as many invoice lines as required
  • Produce a backing sheet with details to support the invoice
  • View summary of items billed, invoice amount and profit
  • View invoices submitted in the Debtors Ledger ready for payment
  • Automatically transfer both sales invoices and receipts to Sage 50 Accounts
  • Fee forecasting facility allows future bill points to be entered
  • Invoices can be planned according to a fee schedule
  • Report by month all future planned invoices
  • Email invoices to ensure quick and easy invoice delivery

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