Make better business decisions with accounting software packages designed specifically with contractors in mind.
Construction companies are always fighting to lower operational costs and track jobs in order to help their business grow within the industry. By using the right software tools, you’ll have the ability to effectively manage your construction accounting.
Hitting the nail on the head can be done by anyone but, using the right hammer without bruising a thumb is how the BAASS team can carefully use their expertise to help your company.
Establishing the need
Firstly, it is imperative to understand why your company may need a construction solution. The following list indicates all challenges we have noticed in the construction industry. Noticing the need to increase revenues, it is imperative to use the correct accounting construction software if you:
- Experience difficulty assessing job profitability before or after jobs
- Re-enter the same data in multiple areas
- Have trouble easily scheduling labour and equipment
- Find yourself waiting for materials, equipment, and labour to become available to perform work
- Are unable to determine when a job will be completed
- Struggle with disappearing profit margins when the full costs of a job are calculated
The Value of Integrated Construction Accounting Software
The good news is that the software industry understands these challenges and has developed packages tailored to construction specific needs. Packages naturally handle basic accounting tasks such as receiving payment, paying bills, and creating top level financial reports. But they also address construction specific issues such as work in progress, percentage of completion, retainage, job costing, estimated vs. actuals reporting, job profitability, project management, and change orders. There are a number of signs that you can look for to see if it is time to increase the power of the software tools you use to ensure your company's efficiency and profitability.
Although some construction companies have already invested in accounting software, many still struggle with the inefficiencies surrounding the process. Typically, the inefficiency in existing software is due to the lack of integration within the system itself. Many employees find themselves questioning how to complete tasks or where to find data due to the difficult navigation of multiple areas within software. The lack of centralization begs the question of whether or not companies are in fact making appropriate and carefully thought out decisions.
Learn more about solutions that are right for you by contacting a BAASS account manager today at 1-866-260-5302