SMARTrack

SMARTrack is a broad-based system that effectively assembles volumes of Project Data into concise reports to simplify decision making. This ability to track Project Status provides constant control of cost in relation to estimates. Coupled with our fully integrated A/P and G/L modules, SMARTrack is a very efficient business system.

SMARTrack is a Project Accounting, Time and Billing System designed for Consulting Engineers, Architects and related Consulting firms. This comprehensive software system provides important features to control critical office functions including:

• Time Management
• Expense Management
• Billing
• Accounts Receivable
• Client A/R Status Inquiries
• Project Status Inquires
• Project Reporting
• Employee Productivity Reporting
• Client and/or Project Profitability Reporting
• Historical Information Retrieval
• Mailing Label Processing

SMARTrack is available with IBS General Ledger and Accounts Payable Systems that offers a fully integrated office environment.

Office Productivity

Because of its menu-driven, interactive, and user-friendly design, the system provides increased productivity through effective management of time, expenses and other firm resources.

Functions are provided to support all staff levels within your firm -- from Clerical through Project Management and Executives. Reports may be produced at various levels of detail to suit the needs of the person performing the analysis. Most procedures offer alpha look-up to eliminate the need to memorize client and/or project numbers. Help screens are also provided to assist the user.

Employee and subcontractor "time" and "expenses" are entered into SMARTrack on a regular basis. These entries, or transactions, establish the basis for the majority of system functions including Billing, Productivity Reporting, Profitability Reporting and Project Management.

Time and expense information is edited for validity upon entry and the operator is made aware of any identified errors. In addition, several reports are available to assist in entry verification and correction.

Time may be entered on a detailed or summarized basis with the option to add descriptive information about each entry.

Transactions are "priced" and "costed" at the time of entry or maintenance. Billing rates may be set using one of the following designations:

1. Rate Schedule -- Each employee is assigned to a Billing Schedule containing up to four rates. These rates may be assigned to specific time frames to allow for standard rate increases within the firm.         
2. Specific Rates -- Employees may be assigned to specific clients, projects, or activities within projects, at specific rates. An "Employee Type" may be assigned in the same way.
3. Cost+(cost plus) or Fee-(fee minus) -- Projects may be individually identified as "Cost+" or "Fee-" (discount) projects. The billing rate for employee time entered against this type of project is automatically computed based upon the employee’s hourly rate (for Cost+) or the employee’s standard billing rate (for Fee-).
4. Override Rate -- An overrided rate may be used if none of the above designations apply.

Expenses may be entered as a Company expense or associated with an employee or subcontractor. The option to add descriptive information about expense entries is provided.

Transactions are "priced" or "costed" at the time of entry an may be based upon a predefined price as part of an expense table.

Mark-up percentages may be defined as "standard" for a project or designated at the time of entry.

Reports are provided to assist in preparing for Billing including the detailed "Pre-bill Report", the "Available to Bill Report" and "Pseudo Invoices". Pseudo Invoices function is a preliminary invoice providing an actual view of how the client’s invoice will appear.

SMARTrack incorporates the following features to allow each firm to tailor the system to its own billing needs:

1. Invoices may be generated at the following levels:

   • Client Level -- all projects on one invoice per client
   • Sub-client Level -- a division or unique location of a client  
   • Project Level -- one invoice per project                 
   • Sub-project Level -- the most detailed level of invoicing

2. Projects may be billed on a regular basis (weekly, semi-monthly, or monthly) or on a controlled basis.
3. Projects may be billed individually, on-demand. They may also be billed for the entire firm, or by responsible individuals at specified frequencies.
4. Transactions may be withheld from billing until you are ready to release them.
5. Management of fixed price, fixed upper limit, or lump sum contracts is handled within the structure of the system.
6. Multiple invoice formats are available to assist in creating an invoice which meets client requirements.
7. Project billing can be automatic of standard time and material projects. However, controlled billing (based on management-designated amounts) is supported.
8. Percentage complete invoicing is supported for management-designated values as part of controlled billing projects.

Accounts Receivable information is maintained at he client level and at the project level. This "open item" A/R system provides for all detail entries against an invoice to be maintained until the invoice is cleared. Reports and inquiries provide information to assist in managing Accounts Receivable and in pinpointing overdue accounts.

Interest calculations are supported with the following user options:

1. Clients and/or projects may be individually coded as "exempt".
2. Interest may be calculated on a daily balance or on a month-end balance basis.
3. The length of time before a client is subject to interest is variable and is determined by the user (30 days, 2 months, etc.).
4. Interest percentage is user defined.

SMARTrack automatically handles "prepaid projects" and supports General Ledger liability accounting (for prepaid moneys).

Multiple client contacts may be maintained per client to facilitate newsletter mailings, invitations to seminars, and etc.

Projects may be divided into sub-projects (phases, tasks, etc.), and each sub-project may be budgeted (estimated ) by "time" (fees), "subcontractor", and "expenses". The budget (estimate) is printed as part of various reports and inquiries. Exception reports may be generated to identify problem situations throughout the life of project.

A Costing Report is provided to assist management in identifying the costs associated with various activities within a firm, including overhead. It also allows for reconciliation to other administrative areas such as payroll.