Track detailed costs on a project-by-project basis
What is NetSuite OpenAir Project Budgeting?
NetSuite OpenAir lets teams track detailed cost budgets on a project-by-project basis. Financial leaders set initial budget forecasts and then track actuals, comparing different scenarios for on-the-go visibility into financial performance. Powerful controls combined with user-friendly menus provide the perfect balance for today's project budgeting needs.
NetSuite helped us to triple our margin by accurately capturing time and forecasting demand. We've also improved the accuracy of our estimates and reduced the amount of time spent on invoicing.
NetSuite OpenAir Budget Benefits
NetSuite OpenAir Budget Management Features
NetSuite OpenAir budget management is integrated into timesheet and expense management. Now, project planning and billing can be automated, and teams can track detailed cost budgets on a project-by-project basis. Set initial budget forecasts and then track actuals, comparing different scenarios to allow on-the-go visibility of financial performance.
Track project funding over time and easily manage change orders, extensions, and credits to the project budget. With transactional budgets, identify individual funding items that make up the total project budget, such as statements of work (SOWs) or purchase orders (POs), and align budgets to invoicing and revenue activities.
Draw detailed budgets for labor, expenses, and purchases associated with your project, and track expenditures at the task, phase, or project level as a cost planning tool. Create budgets based on cost or billing, and estimate costs over the span of the project. View actual incurred costs and compare multiple budgets.
Submit multiple budgets for approval for the same project, compare budgets side by side, and approve the most realistic scenario. Compare actual costs against multiple budget scenarios. Identify variances with customizable color-coding for budget items that are on or off target based on the percentage of planned versus actual expenditures.
View and compare actual against planned expenditures with project budget reporting. Get an overview of project expenses and profitability. View budgeted totals as well as monthly, quarterly, category-level, and task-level details. Calculate and view estimate to complete (ETC) and estimate at completion (EAC) automatically.
Challenges NetSuite OpenAir Budget Management Solves
How Much Does NetSuite OpenAir Budget Management Cost?
Companies of every size have made the move to NetSuite OpenAir. Looking for a better way to run your projects but wondering about the cost?
Users subscribe to NetSuite OpenAir for an annual license fee. Your license is made up of two main components: core platform and number of users. There is also a one-time implementation fee for initial setup.
Expense management capabilities are included with the NetSuite OpenAir module.
Access specifications, features and benefits of NetSuite project accounting.
Spark ideas with success stories from NetSuite customers.
- MongoDB Gains New Confidence in Financials with Switch from Intacct to NetSuite
- Consulting Firm Pennside Partners Sees Profitability Soar with NetSuite OpenAir
- TopDown Consulting Automates Financial and Reporting Operations with NetSuite
- From Single-Client Consultants to Multiple Lines of Business, W. Capra Consulting Group Scales its Services Company
See NetSuite project accounting capabilities in action.
View our on-demand webinars, which deliver insights from NetSuite and industry experts.
Guides & Blogs
Go deep into topics around NetSuite project accounting capabilities.
- 4 Ways Poor Resource Management Costs Services Companies Profits, and How to Fix It (Blog)
- Automating Project Accounting to Boost Profits (Blog)
- 4 Reasons Why Your Services Projects May Not Be Profitable (Blog)
- A Buyer’s Guide to Purchasing Project-Based ERP (Blog)
- 4 Project Profitability Pitfalls Project Managers and Finance Teams Need to Watch (Blog)
Discover best practices and learn more about project accounting from beginner to advanced levels.