PROSPERO FINANCIALS

Project Accounting Software

Prospero now tracks budgets, costs, and profitability by project, right alongside your general ledger. No spreadsheets on the side. No separate job-costing tool to reconcile at month end.

If you bill against a contract, a budget, or a fixed scope of work, "how's the job doing?" is a question you get asked constantly — and answering it usually means leaving your books to go dig through a spreadsheet, a separate job-costing app, or last month's invoices.

Prospero Project Accounting keeps that answer where your numbers already live: in the general ledger.

Everything you need to run a job, built in.

1. Projects, budgets, and cost codes

Set up a project in seconds — client, contract value, billing type, timeline. Add a budget by account, and break it down further with cost codes when you need job-level detail like labor vs. materials.

2. Change orders that actually update the numbers

Approve a change order and your project's contract value updates automatically — no manual recalculation, no forgetting to adjust the budget.

3. Real job costing, not an estimate

Every invoice, bill, and journal entry line you tag to a project flows straight into that project's numbers. Budget vs. actual, updated the moment you post a transaction.

4. Percent-complete (WIP) reporting, done right

Prospero calculates earned revenue against what's actually been billed — and shows you, in plain terms, whether a job is running ahead of billing or behind it. One click posts the adjusting entry.

5. It's all optional

Project Accounting is off by default and turns on with one setting. Your existing clients, invoices, and workflows are completely unaffected either way.

Built for the businesses that live and die by the job.

Construction & contracting — track labor, materials, and subs against budget, job by job.

Professional services firms — see engagement profitability without leaving your billing workflow.

Consulting & agencies — know which retainers and fixed-fee projects are actually making money.

Not billing against a contract or a budget? You probably don't need this — and that's fine. Project Accounting stays out of the way until you turn it on.

From contract to close-out, in three steps.

Step 1 — Set up the project

Enter the contract value, billing type, and budget. Add cost codes if you want job-level detail.

Step 2 — Tag your transactions

As you invoice and bill against the job, tag those lines to the project. Everything else keeps working exactly as it did before.

Step 3 — Watch the numbers update themselves

Budget vs. actual, project P&L, and percent-complete WIP reporting — all live, all without extra data entry.

The same double-entry rigor you already trust.

Project Accounting isn't a bolted-on module — it's built on the same posting engine that runs every invoice, bill, and journal entry in Prospero. Every dollar tagged to a project is a dollar that's already been through real double-entry accounting. Nothing is estimated. Nothing is reconciled after the fact.

FAQ's

Do I have to use this feature?

No. It's off by default for every company and only appears once you turn it on in Company Settings.

Will this change how I enter invoices and bills?

Not for anything you don't tag to a project. Untagged transactions behave exactly as they always have.

Can I track costs at a more detailed level than my chart of accounts?

Yes — optional cost codes let you break a project down further, like separating labor from materials, without adding accounts to your chart of accounts.

What's WIP reporting, exactly?

It's the standard percent-complete method used on fixed-price and cost-plus contracts — comparing what a project has earned based on progress to what's actually been billed, so revenue recognition matches real progress.

Stop reconciling job costs by hand.

Turn on Project Accounting and let your books do the tracking.