Overview Accounts Payable (AP) operates in a demanding environment. The volume of AP transactions is substantial, and the payables processing cycle can be difficult to complete, as AP interacts with nearly every department in the company as well as with outside vendors. To successfully meet its processing goals, AP must rely on both streamlined and…
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In today’s complex business landscape, the right software tools are more than just aids; they are essential components that drive project success and financial stability. A common area of confusion lies in distinguishing between Project Management and Project Accounting software. Both serve critical yet distinct functions in the lifecycle of a project. This blog aims…
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Overview An organized and controlled GL period close is essential to the completion of accurate financial statements. Accurate statements are critical in expense control analysis and support informed financial decisions. Accounting years are based on a number of accounting periods. While monthly accounting periods are the norm, accounting periods do not need to be based…
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Are your resources and rate structures optimized for profitability? In the professional services industry, where time is money, ensuring profitability requires careful planning and execution. Many firms rely on billable hours to generate revenue, but simply maximizing billable time isn’t enough. This blog explores two key drivers of profitability: rate structures and resource utilization. We’ll…
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Overview The most general definition of project accounting would be tracking financial transactions by project including costs, billings, and revenue. What constitutes project accounting in a company is based on several factors including company type, the number of projects and company size. For project centric companies such as Consulting Firms, Architect and Engineering Firms or…
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Introduction Project accounting is an overly broad term. The most general definition would be tracking financial transactions by project including costs, billings, and revenue. In reality though, project accounting can be much more than that. What constitutes project accounting in a company is based on several factors including company type, the number of projects and…
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From constant technological flux to the lingering effects of the pandemic, today’s professional services firms are navigating a storm of challenges. They’re tackling digital transformation head-on, plotting their post-pandemic course correction, and rebuilding client connections in this new reality. But these aren’t the only hurdles they face. Complex projects, geographically scattered teams, and the intangible…
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Background The J.G. Management Systems (JGMS) team works shoulder-to-shoulder with some of the world’s most respected government organizations such as Department of Energy, Department of Commerce, Department of Homeland Security, Department of Defense, Department of the Interior, Department of Agriculture—and excels at tackling the most difficult projects. A national award-winning firm, JGMS has over 20…
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Background Kidder Mathews is the largest independent commercial real estate firm on the West Coast. With over 900 local market specialists and top-producing professionals, Kidder Mathews has 20 offices in Washington, Oregon, California, Nevada, and Arizona. The expertise of each local office is reinforced by the relationships, intelligence, and experience of the entire firm. The…
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In the dynamic landscape of project management, staying ahead of the curve is essential for success. As we step into 2024, the field continues to evolve, driven by technological advancements, changing workplace dynamics, and the need for increased efficiency. Agile project management has been a dominant trend for several years, but in 2024, organizations will…
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