In the construction industry, both firms and suppliers have a crucial need to monitor activities by jobs. At ChoiceTech Accounting Solutions, we understand that reports showing revenue, costs and profit by job are paramount. Comparing actual to estimated expenses, not only at the job level, but at the sub-job level are also important. Our accounting software experts know that for larger jobs, you need to meet the accounting standard requirements in order to recognize revenue and expenses based on a percentage completion method, or only when the job is completed. ChoiceTech Accounting Solutions experts can provide dashboard inquiries for each user to quickly retrieve information required.
With tools such as Adagio Purchase Orders, practical and preferred solutions are available to the construction industry; maximizing purchasing efficiency and enforcing financial accountability. Having a link between Payables and Ledger Financial Reporting is essential and avoiding exceeding budgets and estimates for jobs, phases or categories is just one of the great features available with Adagio.
Adagio JobCost is a full-featured job costing solution for the Adagio user. It is completely integrated with Adagio Receivables, Adagio Payables and Adagio Invoices, and allows you to profitably measure and track all your jobs or projects, and accurately and automatically recognize revenue as each job progresses.
- AIA Billing Worksheet is included
- Breakdown into phases and categories
- Automatically allocate expenses to a job when entering bills in Payables
- Recognize Revenue on any of three basic methods
- Send Revenue automatically to Receivables or Invoices
- Archive completed jobs
- Do change orders
Within one job you can track costs by type as material, labour subcontractor, costs, equipment, overhead or miscellaneous. Either way costs are tracked based on each job/phase or category. This eliminates duplicate entry processes and manual entry errors. ChoiceTech provides budget vs. actual reporting based on each phase of the job.
Tracking jobs and issuing payroll are another significant part of the construction industry accounting needs. Hours can be tracked with an online time clock integrated with PayDirt Payroll or Time Cards in Adagio Jobcost. ChoiceTech Accounting Solutions experts can integrate your time clock with payroll and job tracking, so that time worked on a job need only be entered once.