August 29th, 2012 | Published in business
Are your processes creating extra pain to managing accounting and financials? Construction accounting software may be the time-saving, cost-cutting solution you need.
Many contractors wrongly rely on numerous spreadsheets, piles of paper, and generic accounting software packages. Sound familiar? Then you should check your steps. With your current method:
- Do you have to reenter data in different places?
- Do you have time-consuming steps to find the data you need?
- Is it a challenge to produce the reports you want?
- Is it difficult (or impossible) to produce daily job costing?
- Are you confident with real-time data and audit trails?
By moving to a construction accounting software solution, you can have a system that is designed to uniquely fit your type of work.
Replacing your ill-fitting processes with construction accounting software, you can properly manage all facets of accounting, financials, and reporting to save time and money:
- Eliminate duplicate data entry and minimize costly mistakes
- Improve workflow with GL, AP, AR, and more all in one system
- Have daily job costing and real-time data on job performance and profitability
- Make timely decisions with comprehensive reporting, including WIP and Bonding
- Build reliable audit trails and maintain historical details
- Prevent potential financial losses and improve financial stability for long-term benefit
When you are able to eliminate inefficiencies, inaccuracies, and other obstacles to reaching your optimal profitability, you can know where every penny is going (and why) and identify opportunities for new revenue.
Only you will know when the time is right to make the move from a system of spreadsheets and unsatisfactory software. But to begin your investigation … there are six reasons you should consider to determine if construction accounting software is the right fit for your business.
Download this free article to learn more about the obstacles you need to overcome with antiquated methods and the value of having accounting software for construction.