Signs that it's time to invest in construction accounting software

How to know when it’s time to invest in construction accounting software

Check off each issue that applies to your construction business:

construction accounting software
If you checked two or more boxes, you are most likely putting out an extra effort that is unnecessary. Your team is working extra hours that can otherwise be automated. Also, if you manage jobs using information that is late, incomplete or inaccurate, these best-guess decisions can easily erode your already thin margins and expose your business to undue risk. It may be time to start relying on construction accounting software that is built for your type of business.

How does a construction-specific solution make a difference? When you directly tie together your jobs with accounting, your performance of your business will increase.
The decisions that are made during a construction project have the biggest impact to the bottom line. That’s why software that integrates with estimating, scheduling, job cost, project management, and service management into everyday accounting practices can best help you manage your business, and in turn, help improve profitability. Even the smallest contracting company can find substantial benefits because you start to gain visibility and control of your job costs as you make your daily decisions.

Unlike generic accounting packages, a construction accounting software package can:

  1. Give stronger and earlier visibility into the actual status of job costs and expected future performance as a project progresses.
  2. Increase business confidence by connecting construction processes, centralizing financial and operational data within one system, delivering strong audit capabilities, and providing managers with construction-specific reports, alerts and more.
  3. Reduce errors and redundancy that results when using multiple, disconnected systems, including Microsoft Excel and Word to manage a business.
  4. Strengthen communication between the field and the office to keep projects moving forward. Better communications contributes towards earlier visibility on arising issues before they become problems and drain the bottom line.
  5. Help contractors effectively and efficiently comply with governmental, union and other reporting requirements specifically affecting the construction industry. It also handles the complexity associated with owner, general contractor and subcontractor relationships.

Sage 100 Contractor and Sage 300 Construction and Real Estate are both integrated solutions that provide business visibility, centralized financial and operational information, reduction in errors and streamlined processes.

Why choose a construction accounting software package from Plumb and Sage?  Click here