Project accounting means tracking profitability per contract (cost centre), recognising long-term contract revenue via the percentage-of-completion method, and handling retention guarantees and works statements. 4mystaff automatically allocates direct and indirect costs per project and shows your real margin in real time.
Track expenses and revenue per project in real time. Compare planned vs. actual budget and intervene on deviations. Local setup for Portugalia, aligned with SAF-T.
Create, assign, and track tasks with deadlines and priorities. The team has clear visibility on what needs to be done and when. Local setup for Portugalia, aligned with SAF-T.
Communicate, share documents, and track progress in a single workspace. Reduce unnecessary emails and meetings. Local setup for Portugalia, aligned with SAF-T.
Centralize all project documents with versioning, controlled access, and fast search. Nothing gets lost, everything is one click away. Local setup for Portugalia, aligned with SAF-T.
Automatically calculate margin and profitability per project, customer, and team. Identify the most profitable projects and optimize resource allocation. Local setup for Portugalia, aligned with SAF-T.
When the contract outcome can be reliably estimated, revenue is recognised by the percentage-of-completion method — proportional to the physical stage of execution (OMFP 1802/2014). If the outcome cannot be estimated, revenue is recognised only up to recoverable costs, with profit at completion.
The amount retained by the client (typically 5–10%) stays as a receivable in a distinct sub-account of 4111 until the guarantee is released. Note: VAT becomes chargeable on invoice issuance (or on collection, under the cash VAT scheme), not when the retention is actually collected.
Through cost-centre accounting: each project gets analytical accounts where direct costs (labour, materials, subcontractors) and a share of indirect costs are allocated. The per-project revenue–cost report shows the real margin and deviations from the initial budget.
Invoicing is based on works statements accepted by the client. VAT becomes chargeable on the date the works statement is accepted (or on collection, under the cash VAT scheme). Documenting client acceptance is critical to correctly establish the chargeability moment.
