Have you found your pot of gold in a construction accounting software package? Or are you still struggling with repetitive daily data entry from off-the-shelf accounting software that only gets you so far?
Having accounting software that’s made specifically for the construction industry can offer you many benefits. Here are the three reasons why we think choosing accounting software based on your industry needs is going to get you the biggest pot o’ gold:
Project management software has many tools to assist with day-to-day procedures in the construction world. Having a job center is one tool that gives a complete overview of each job at one quick glance. It shows profitability, whether you are over/under billed, and review of estimated vs. actual cost to allow Project Managers to determine and enter revised estimates. This is something you will not find in an off-the-shelf accounting package and can be essential in the middle of managing several projects at one time.
Having a module specific to document control can ease the simple pains of having all job documentation in one central location. It is very easy for documents to get lost or out of order and there can be an easy and quick solution. Some construction project management software includes a specific module that tracks important documents such as change orders, RFIs, transmittals and submittals. It can also provide a correspondence log and drawing log.
Keeping your important client documents in one virtual place is a huge time-saver. For one, it eliminates the need for a lengthy paper trail process. Additionally, it’s easy to see what essential documents could be missing. It can be a huge frustration to lose paperwork or forget to collect it from the client until later on.
It can be extremely tough to keep track of opportunities / bids, customers, referral sources, and progress without a built-in CRM system. With construction accounting software, you can easily track to-dos, emails, attachments, contact-specific information and quickly generate reports using sophisticated reporting features.
Construction accounting software should make tracking jobs, documents and customer information easy and accurate. Project managers should know how jobs are progressing in the field with a click of a button. Using tools like Excel spreadsheets and endless paper trails are not efficient ways to grow your construction business. Utilizing a construction accounting software system will earn your company that coveted pot o’ gold, or possibly get you closer to that happy hour green beer on St. Patrick’s Day!
If you need help finding ways to maximize your project management capabilities or need advice on construction accounting software, our expert leprechauns are ready to help. Contact us here or contact Erica Turner at 443.835.0671.