Construction in Progress (CIP) with Budget

Corporations and government agencies have to track all of the invoice detail for their construction projects. Managing the costs on these projects requires careful planning and sound budgeting principles. The main purpose of budget management is to estimate the total cost to complete the project and then ensure your team stays within the approved amount.

The CIP module in Bassets eDepreciation enables you to track a group of invoices by project. As the project develops, the user will enter or import additional invoices that are associated with each project. There can be an unlimited number of active projects running concurrently.

The budgeting add-on module enables you to track a budget at the project level for the life of the project. These budget amounts can then be used to run budget vs. actual reports. The budget versus actual report will break and display the appropriate subtotal amounts by each project:

CIP with Budget

This is a simple example of the just three invoices in a small project. The same principals apply to larger project with thousands of invoices and multiple budget levels within the project. The budget report can be run in either Summary or Detail format. Summary reports will not display any invoice level detail, they will only show budget totals by project.

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