Get the financial overview
TimeLog is a strong tool when you as a CFO are responsible for monthly financial reporting to the management group.
As CFO, you primarily use TimeLog for invoicing and to complete your accounting periods with the final financial reporting.
When the monthly financial invoicing has to be delivered, you can easily communicate with the project managers and create an overview of the invoicing potential. In TimeLog, we have a build-in communication flow where you can mark which invoices are ready for invoicing, so you save time on internal mails. When the invoicing is completes, the management group can make the right decisions based on your actual results.
Manage your work in progress
If you work according to the production principle, it is important to manage your work in progress, so you all the time has an overview of how much value you either owe the customer or have in your favour.It is not nice to get surprises at the end of the year, when making the annual accounts. Therefore, encourage the project managers to book the hours as revenue when they do their invoicing.
With our both simple and complex contract types, you can manage both your financial contractual obligations towards customers and your internal financial reporting supporting management of bonus schemes, value creation and invoicing.
Key figures in real time
You will always be able to see both the registered value vs. the invoiced value on the single projects, hours, contracts, customers and employees. It is important to get the full financial overview, and not only focus on what you have invoiced. You get this by integrating with your financial system. By invoicing in TimeLog Project and thereafter transferring the invoices to the financial system, you will see all the financial key figures and have a full overview of your company’s performance.
Multiple legal entities?
Then you might need the possibility to link several financial systems to TimeLog.
Read more about our extension Multiple Legal Entities, which support the concern’s need for financial management.
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