Today's Technology for Tomorrow's Firm.
CONSTRUCTION/CONTRACTOR ACCOUNTING Reviews For Your Clients REVIEW SECTIONS
BASIC SYSTEM FUNCTIONS • General Navigation & Ease of Use • Customization Features/Dashboards/ Overviews
• Multi-location Support • Platform Support (Windows 7/Vista/XP)
CORE ACCOUNTING CAPABILITES
• GL/AP/AR/Payroll Functionality • Additional Accounting Modules (fi xed assets, warehousing, inventory, etc.)
• Audit Trail • Security Features/Users Roles
CONSTRUCTION/CONTRAC- TOR-SPECIFIC FEATURES • Estimating • Project Management w/Job Costing & Tracking
• Change Order Processing • Customer/Vendor/Employee/Subcon- tractor
• Management • Inventory/Purchasing • Scheduling/Dispatch • Equipment Management
REPORTING & MANAGEMENT TOOLS
• Business & Project Detail & Summary • Invoicing (AIA Compliant) • Client Communication Templates • Document Management • Mobile Management Tools/Remote Access
INTEGRATION/IMPORT/
EXPORT • Data Transfer/Import • External Integration (add-on programs & modules)
HELP/SUPPORT • Built-in Support Features • System Updates (best if downloadable or automatic download)
• Support Website/Documentation • U.S.-Based Live Support (better if support is free)
W Mary Girsch-Bock
Mary began her career as an accountant in the property management industry, later moving into the healthcare industry. She is now a freelance writer specializing in business and technology issues and is the author of her fi rst book, several HR handbooks, training manuals, and other in-house publications. She can be reached at mary.girschbock@ cpapracticeadvisor.com.
Seven Management Systems that Can Help Contractors & Construction Firms Build a Stronger Business
hile some industries have managed to struggle back from the weakened economy we've experienced the last few years, the construction industry has continued to
suff er. Only in recent months have we seen an upturn in the number of large construc- tion jobs such as new homes and commercial projects. Contractors initially saw a similar fate, but individualized services that contrac- tors off er have not suff ered nearly as much as large construction projects have. While economic pressures may have been
diff erent for each, construction and con- tractor companies are similar in one way; each has struggled trying to fi nd how to become and stay profitable. In essence, searching for a way to stay in business. Soſt ware alone will certainly not be the
deciding force in the success or demise of a business; but a solid financial software product can certainly play a role in any resulting success. While having solid GL, AR, AP, and Payroll functionality is important for any business, it's oſt en the additional functions that help business owners keep their numbers in the black. Features like dashboards, which provide owners and managers with a quick overview of their business are particularly helpful if one is reluctant to search through stacks of fi nancial statements. Of course, business owners oſt en know if they're succeeding or not, but having that overview handy sure makes it a lot easier to know exactly how much money they're bringing in. Or not bringing in. For some businesses, document manage-
ment is a bonus module, not a necessity. But in the construction world, where everything
is driven by paper, such as contracts, change orders, blueprints, invoices, etc., a good document management system means less time searching for that lost piece of paper and more time spent on your business. Finally, construction and contractor businesses have a unique set of requirements when it comes to soſt ware. Not only do they need solid accounting/fi nancial capability,
BUT IN THE CONSTRUCTION WORLD, WHERE EVERYTHING
IS DRIVEN BY PAPER, SUCH AS CONTRACTS, CHANGE ORDERS, BLUEPRINTS, INVOICES, ETC., A GOOD
DOCUMENT MANAGEMENT SYSTEM MEANS LESS TIME SEARCHING FOR THAT LOST PIECE OF PAPER AND MORE TIME SPENT ON YOUR BUSINESS.
but they also require functionality that can manage job detail, fulfill unique billing requirements, and track other items such as change orders, workers compensation insurance, retention amounts, and provide good project management capability. The construction software we're
reviewing all have one thing in common – solid accounting functionality. Some off er basic construction specifi c functionality, enough for the small construction company, but not really enough for the larger company, or the growing company. Others off er a full menu of features that can suit just about any construction/contractor business.
For this review we've looked at six areas
that need to be considered before purchasing new soſt ware for a construction or contractor
business. T ey are: BASIC SYSTEM FUNCTIONS – T is includes areas such as general system naviga- tion, ease of use, and platform support. Basic information that's important when deciding
what soſt ware to purchase. CORE ACCOUNTING CAPABILI-
TIES – We look at the four core components of an accounting system: GL, AR, AP, and Payroll. What other modules are available? Does the system have an adequate audit trail
and user security? CONSTRUCTION/CONTR CTOR-
SPECIFIC FEATURES – In this section we look at the availability of everything from estimating, project management ability, change order processing, scheduling and dispatch functions, and equipment manage-
ment. REPORTING & MANAGEMENT
TOOLS – We look at the reports that are available, if the system can handle AIA billing, does it offer client templates or document management capability, and can
employees access the system remotely. INTEGRATION/IMPORT/
EXPORT – We answer questions such as 'how easy is it to import or export data?' 'What formats are used?' 'Is the system
completely integrated with add-ons?' HELP/SUPPORT – In this section we
look at everything from built-in support capability to how easy it is to retrieve system updates. While it will take more than a good con-
struction soſt ware product to make your client's business successful, it certainly will go a long way toward making their lives a bit easier, and hopefully a lot more profi table. ●
March 2012 • www.CPAPracticeAdvisor.com 13