From Spreadsheets to Smarter Reporting: Cost Projections in Acumatica

If you’re still managing project financials in Excel, you’re not alone — but there’s a better way. Many construction businesses are discovering by shifting cost projections into their ERP systems — like Acumatica — they can unlock faster, clearer, and more reliable insights into their projects. 

Learn how making that shift can help you get more value from your software — and your time. 

What are cost projections? 

Think of cost projections as your forward-looking financial lens. They estimate what it will take to complete a project, based on what’s already been spent and what’s still ahead. While your original budget and change orders give you a starting point, cost projections help you understand where you’re likely to land. 

For example, if your actual costs show you’re halfway through the budget, but your team is already 75% done with the work, that’s a good sign. But if you’re only looking at actuals, your reports might tell a very different story — one that could mislead stakeholders or even affect your ability to secure financing. 

Why cost projections matter 

Without accurate projections, you risk: 

• Misleading financial reports: You might appear over- or under-budget when you’re not. 

• Inaccurate WIP (Work in Progress) reports: These can throw off your revenue recognition and cash flow planning. 

• Audit headaches: Incomplete or inconsistent data can make audits more stressful than they need to be. 

• Financing challenges: Lenders rely on clean, current financials to assess risk. 

The power of real-time reporting 

When cost projections are built into your ERP, they become part of your daily workflow — not a separate task. That means: 

• Your reports update automatically as new data comes in. 

• You can track progress by task, labor, or material — whatever makes the most sense for your team. 

• Project managers can input updates from anywhere, whether they’re on-site or at home. 

• CFOs can review and approve projections before they impact financial reports. 

This kind of setup supports better communication between field teams and finance, helping everyone stay aligned. 

How Acumatica makes it easier 

Acumatica’s Construction Edition includes built-in cost projection tools flexible enough to match your workflow: 

• Detailed or summary-level projections: Choose the level of detail that fits your team’s style. 

• Upload from Excel: Keep your current process while transitioning into the system. 

• Track changes over time: See how projections evolve and why. 

• Approval workflows: Let project managers input data while finance retains control over what gets posted. 

You can even tailor the interface so project managers only see what they need — keeping things simple and focused. 

Better projections, better decisions 

When your cost projections are accurate and up to date, your WIP reports become more reliable. That means: 

• Clearer visibility into under- or over-billings 

• More accurate margins 

• Better cash flow planning 

• Stronger financial positioning for growth or valuation 

It’s not just about tracking numbers — it’s about making smarter decisions with confidence.