Financial Management Features
Costpoint provides financial management capabilities for maintaining accounting records and connecting transactions with organizational and project structures. Finance teams can manage general ledger, accounts payable, accounts receivable, billing, budgeting, and financial reporting within connected workflows.
Accounts payable workflows can include invoice capture, extraction, validation, matching, GL coding, approval, and posting. The chart of accounts provides the accounting structure used to classify transactions and support consistent financial reporting across organizations, projects, and cost categories.
These features allow finance teams to connect operational transactions with accounting records and review financial information using the dimensions relevant to their business and contract structures.
Project Accounting and Contract Features
Project accounting is a central part of Costpoint's functionality. Organizations can associate labor, expenses, materials, subcontract costs, and other transactions with projects and contracts. This creates a connection between operational activity and project financial performance.
Contract-related features can support tracking of contract information, funding, costs, billing, and other financial data. Finance and project teams can use these records to monitor project performance, analyze variances, and support contract-related reporting.
When evaluating deltek as an ERP platform, organizations can consider how Costpoint's project-oriented capabilities fit their accounting structures, existing integrations, reporting needs, and broader finance architecture.
Procurement and Purchasing Features
Costpoint supports procurement processes that connect purchasing activity with financial records. Organizations can manage requisitions, suppliers, approvals, purchase orders, receiving, and related accounts payable transactions within connected workflows.
A purchase order can establish what is being purchased, from which supplier, under what terms, and against which project or accounting structure. Connecting purchase orders with receiving and invoices helps maintain visibility throughout the procure-to-pay process.
Effective procurement features can also provide spend visibility and purchasing controls by connecting requests, approvals, suppliers, purchase orders, receipts, and financial transactions. These capabilities help organizations coordinate operational purchasing with accounting requirements.
Labor, Billing, and Reporting Features
Costpoint can connect labor and expense information with projects, contracts, and accounting records. This is particularly useful for organizations where employee time and project expenses contribute directly to contract costs and billing calculations.
Billing features can use project, contract, labor, expense, and accounting information to support customer billing workflows. Reporting capabilities can then bring together financial and operational information for management analysis.
- Labor management: Connects employee time and labor costs with projects and organizational structures.
- Billing: Supports project and contract-related billing activities using connected transaction data.
- Budgeting: Helps organizations plan and monitor financial activity against budgets.
- Reporting: Provides financial, project, contract, and operational information for decision-making.
Integration and Automation Features
Costpoint can integrate with external applications such as payroll, banking, expense management, procurement, and reporting systems. Integration capabilities help organizations define how data moves between systems and how connected workflows affect financial records.
Organizations evaluating modern ERP capabilities can also examine ERP Automation Features, which describe functionality that automates or coordinates tasks across ERP and integration workflows. These capabilities can extend established processes while keeping financial and operational information connected.
Integration design should identify data ownership, synchronization requirements, validation rules, and downstream accounting effects. These considerations help ensure that Costpoint remains aligned with the organization's overall finance architecture.
Security, Workflow, and Configuration Features
Costpoint features also include controls that determine what users can access and how transactions move through configured processes. Role-based permissions can align application access with job responsibilities, while approval workflows can route transactions to designated reviewers.
Configuration can affect fields, validation rules, organizational structures, workflows, reporting, and integrations. As a result, the same Costpoint feature may operate differently across organizations depending on implementation choices and business requirements.
Organizations should document important configurations and establish clear ownership for financial workflows, user access, integrations, and reporting structures. This provides a consistent foundation for maintaining accurate data and dependable business processes.
Summary
Costpoint Features cover financial management, project accounting, contract management, procurement, labor, billing, budgeting, reporting, security, workflows, and ERP integrations. Their primary purpose is to connect operational activity with financial and project information. For project-driven organizations and government contractors, these capabilities can support financial visibility, contract management, procurement control, accurate reporting, and informed business decisions.