Aderant adds project accounting capabilities
Aderant has announced the availability of new Aderant Expert functionality that enables firms to track, manage, and report on project-related expenditures. Project Accounting allows firms to track time and costs by projects in addition to more traditional methods, such as by office, departments, or profit centers.
Part of Expert General Ledger, the new Project Accounting capability addresses the growing need of law firms to accurately track time and expenditures that are related to specific events, such as moving offices, refreshing attorney laptops or handheld wireless devices, sponsoring a seminar or golf tournament, internal training, and more. Since these events frequently cross organizational boundaries and often have a finite lifespan, the new component treats them as unique projects to which staff time and expenses can be associated. The Project Accounting capability provides firms with greater reporting and analysis flexibility. Firms can track and report project-related costs against budgeted amounts, improving firm management and decision making.