Project Time and Expense Tracking

Project Time and Expense Tracking in project accounting involves monitoring the time and costs associated with a specific project. This process captures details like employee hours worked, materials used, and any other expenses incurred. By tracking these factors, project managers can assess whether the project remains within budget and on schedule. Accurate tracking helps in identifying areas where costs may be exceeding expectations, allowing for timely adjustments. Ultimately, it ensures that resources are used efficiently and provides valuable insights for future projects.