Features for accounting and finance
Approved invoices are sent to accounting
When a project manager approves an invoice or a receipt in Fizure, the system automatically sends the approved costs along with the original invoice or receipt over to accounting. These costs are ready for payment.
There is no need to enter the line-items and allocated costs into your accounting software. The budget along with the allocated line item details are managed in Fizure.
The accounting can use the coding that they need for tax reporting.
Get the full details
When a project manager pre-approves an invoice, it is sent to accounting software automatically.
Apart from that, you’ll also receive an email that contains both the original invoice and a detailed overview of line-items - how much needs to be paid and how much is still free in the budget.
If the project manager has made an error when entering the details, you can request for a correction to make sure that the accounting is aligned with the budget management.
All invoices and details are stored and accessible
Fizure stores all the invoice files along with approval details, contracts, change orders, pay applications and other related information.
There is no need for creating digital folders or, worse, printing things out on paper to store them in physical folders.
All the financial information is easy to access through logs and powerful search.
In the rare case that your accounting software and Fizure show different numbers, you can compare numbers by subcontractor or by invoice.
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"Fizure saves time every single day" — Erki Sander – Project Manager, Hausers Grupp
Sending invoices over to accounting used to be a dull task - it meant creating folders, saving files, sending emails etc.
Fizure has changed that completely - everything I need is displayed in the same place which means I don’t have to switch between different tabs, folders, and apps. This saves time and energy every single day.
Additionally, the mobile apps and Outlook add-in make it easy to upload invoices to Fizure from where I actually receive them.
"Our project managers can now manage more projects." — Tomy Saaron – Construction Manager and Chairman of Hausers Grupp
Fizure has helped our team to gain a real-time overview of all our construction projects budgets.
It has allowed our project managers to reduce the time that they spent on managing the budgets in Excel. Which means they can now manage more projects.
The real-time data also lets us spot issues immediately and take action.
"Fizure is a real game-changer for project teams." — Marko Enula – Project Manager, ABB
Daily Purchase Invoice Management
There is a constant inflow of purchase invoices (that are connected to different projects) into project manager's email inbox. Organizing the purchase invoices is time-consuming.
Fizure's Microsoft Outlook Add-in and mobile apps enable organizing purchase invoices in just a couple of clicks by attaching them to right individual projects. You can even send the document to the site engineer for approval in one click.
Profitability tracking and financial risks control
Accounting software provides project managers with a highly important overview of the project's budget but with a monthly delay. At the same time, managing the budget on spreadsheets is a lot of work.
Fizure makes the budget management process really easy and lets us follow our project budget in real-time.
The possible risks of over-expenditure can easily be spotted from the budget view. You’ll see a yellow indicator whenever an individual line-item has contracted or approved costs that exceeds the budget. This means that we can spot the budget risks several months in advance and have a clear overview of project end costs forecast and profitability forecast.
I definitely recommend Fizure to every project manager who is currently tracking project costs and contracts on spreadsheets. It lets the project manager have full control over project financials without spending much valuable time on it.
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