With all of the advancements in software functionality over the years, making a decision on the right construction accounting software that meets your needs can be difficult to say the least. Finding a solution that can seamlessly handle job costing, project management, progress billing, document management, and accounting is not an easy feat. The good news is that an integrated system such as this already exists. With that being said, there are key factors to consider when deciding on which construction accounting solution is right for your business.
The level at which your accounting system automates processes can reduce the amount of manual entries and double data entry. With less manual entries being made, there will be less chance of errors such as duplicate or incorrect data entry. Automation can also lead to greater employee satisfaction, as the amount of monotonous work will be reduced and more time will be available to complete more value added tasks and close your books faster.
Without a fully integrated construction accounting solution, consolidating information is difficult to say the least (as most of you reading this are well aware). From the office to the field, an integrated accounting system automatically consolidates information between these functional areas, thus reducing the time and effort it would take to consolidate manually. For example, field workers enter their hours directly from the field using the Jonas Premier Field APP, which then automatically integrates with payroll and all that is left is to approve the information submitted! No more entering hours from a manual worksheet and struggling to get your field workers paid on time.
Each business is different and having the ability to make changes on the fly is essential to staying ahead of the curve in the construction industry today. With a flexible construction accounting system, you can customize and adjust the functionality to adapt with the changing needs of your business. An example of this can be seen with editing prior periods. Jonas allows you to enter information into prior periods, providing you with the flexibility to go back into an accounting period and make changes or updates as necessary.
Being able to audit and drill down to the electronic documents allows for reconciliation with ease and improved reporting capabilities. A great example of this is ad-hoc reporting. With Jonas Premier, ad-hoc operational and financial reports can be generated quickly and easily. This tool provides a fast way to generate and review multiple reports whenever you want them and automates the distribution as well.
With all of the day-to-day tasks we perform, we can sometimes forget about the customers we are dealing with. Having a construction accounting system that creates simple and configurable reports, contracts, and invoices will improve customer satisfaction. Having professional and easily understandable documents sent to your customers will help to reduce any further questions they may have and keep operations running smoothly.
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