Project accounting 


B-Com includes  project management capabilities to monitor events' life cycle, budgets and realized financial results

 

 


B-Com project accounting solution allows to:

  • Implement a validation workflow during the entire life cycle of each event
  • Standardize budgeting and automate invoicing
  • Consolidate reporting and financial results at global level

An event is a project with a life cycle that starts with creating a preliminary budget and ends with a financial analysis


B-Com enables you to:

• Define your project, its scope and its actors
 
• Create and manage multiple budgets for each event, filtered by budget owners, and track approvals

• Allocate revenues and expenses to ledger and analytical accounts

 
• Automate invoice generation, track payments, and get a real-time view on the event's generated revenues and financial results

• Explain variances between budget versions, and between budgeted and realized P&L 

• Report and analyse projects' performance 
Project management step-by-step

 

Step 1 - Create your project


Pre-configured templates
With B-Com, event planners are able to create projects based on pre-configured templates for each type of project or event they manage. An unlimited number of qualitative and quantitative information about the project can be organised and stored into the project's cover sheet to enable for the most detailed and sophisticated reporting. Templates are managed centrally to allow for an optimal consistency and flexibility. 

Stakeholders management
Once the project is created, event managers define the team working on the project. Internal and external stakeholders are retrieved from B-Com contact database, and allocated a role in the project. The project stakeholders can also  have a role in the approval workflow.

Financial documents repository
B-Com project management tool offers a file repository which allows controlling across projects if all important files have been stored in compliance with internal and external processes.

A flexible and complete budget management tool
 

Multi-budgets management
B-Com project management tool allows managing an unlimited number of budgets for each project, with an unlimited number of versions for each budget. A budget can be categorized into sub-budgets and linked to several budget owners. 

Multi-currency budgets
each budget has a reference currency, and an unlimited number of secondary currencies. B-Com offers fixed and floating exchange rates to guarantee real-time currency conversion. 




 


Real-time financial information

Once the budget is approved, event planners can track supplier’s accruals and invoices. They can then compare actual and budgeted costs and revenues as well as calculate financial results globally or by category in real-time.







Manage your invoicing

Register suppliers’ invoices and create clients’ invoices directly from budget lines with B-Com invoicing wizard. All information previously defined such as contact details, ledger accounts, or currency is retrieved, yet can be overridden. Amounts invoiced are stored in the budget to allow checking how much has been invoiced compared to budget at any time.  


An optional approval workflow enables a third party validation before sending a client invoice



 

Real-time reports and business intelligence

Project summary reports
Management will gain overview of all projects and events with their corresponding team and status. Resource planning is more efficient and accurate, and business intelligence increases over time. 

budget vs. realized
With B-Com, it is possible to compare actual expenses and revenues to planned budgets and compare financial results in real-time during the entire project life. revenues generated from the sale of services to event participants and sponsors are updated in real time in the project's financial statement.

Cross event profitability reports  
B-Com comprehensive data model allows for comparison and consolidation of financial results at any level of the organization, across all events, for a given type of events, or for a given client. Reports car be categorized by ledger accounts, by supplier, or by department, while comparative cost & revenue analysis between projects allow highlighting areas for financial optimization.