In the construction industry, both firms and suppliers have a crucial need to monitor activities by jobs. Construction 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.
With the right tools, practical and preferred solutions are available to the construction industry; maximizing purchasing efficiency and enforcing financial accountability. Estimates for jobs, phases or categories is important to tracking construction.
Tracking JobCost profitably and tracking all your jobs or projects, and accurately and automatically recognize revenue as each job progresses are part of construction requirements.
- Breakdown into phases and categories
- Automatically allocate expenses to a job when entering Sales Orders or Purchase Orders
- Send Revenue automatically to Receivable Invoices
- Archive completed jobs
Track various type of expenses in jobs like 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. Run reports bases on estimates vs. actual reporting based on each job or phase of the job.