Categories
Accounting Industry Insight Job Costing Resources Trends & Technology

Jonas Premier Listed in Top 10 by SoftwareAdvice

In a recent article, SoftwareAdvice.com listed Jonas Premier amongst the top ten most popular construction software products. The three metrics used to determine the rankings were, user adoption level, search traffic, and social media presence weighted by 75%, 14% and 10% respectively. Of these companies, Premier ranked the highest of the providers that offer true cloud, combined integrated project management and accounting software.

 

As a general contractor, moving to a cloud-based project management and accounting software is the first step towards expanding the scope of your business. By moving to an electronic cloud-based, integrated solution you can expect a significant improvement in job costing and tracking, greatly reduced double entry, and data access in any situation. Moving to cloud will keep you relevant in the ever-evolving world of construction and provide you with an edge against the competition.

 

Jonas Premier is crafted on a modern software architecture that is both flexible and simple to use. Some of the features that Premier offers include sides of Accounting, Job Cost, Progress Billing, Subcontract Management, Financials, Customer Portals and MS Projects Integration just to name a few.

 

About Software Advice

Software Advice is a trusted resource for construction software buyers. They provide detailed reviews and research on thousands of software applications.

Categories
Industry Insight

Premier and Gillam Group Team Up and Take on York University

On Friday, November 20th 2015, the Premier team visited the Lassonde School of Engineering at York University to conduct an onsite, specialized training session with the Project Managers and Coordinators of the Gillam Group – forging an even stronger relationship with yet another valuable client. This new 16,000 sq. ft. building is an inspiring masterpiece – lending itself to a new way of teaching well into the next century and will house various engineering disciplines, programs and types of instruction to the students of York University. This new facility, embraces a new innovative style of learning by providing forms and spaces that are flexible, creative, collaborative and bold.

 

The Gillam design team constructed this iconic building aspiring to attract research partners, recruit and retain staff and students from across the province, the country and around the world. The Gillam Group is a well-known construction management company, located in Toronto, Ontario.  They are established by a collection of industry professionals who share a common goal of improving the way construction projects are delivered.

 

Premier offers an ideal solution for General Contracting businesses, providing the ability to access information anytime, anywhere. Premier is built on a modern software architecture that is entirely flexible and truly simple to use. Some of the features that Premier offers include sides of Accounting, Job Cost, Progress Billing, Subcontract Management, Financials and Customer Portals just to name a few. The Premier team and the Project Managers of Gillam trained closely together with the use of Premier’s fully integrated, cloud-based construction accounting software, helping Gillam continue to take their business and future projects to new heights.

Categories
Industry Insight

Progress Billing – A Better Way

Construction Projects typically involve many different trades in order to reach completion. Therefore, it can be just as a daunting a task to submit for payment to a client along the way. Owners’ of the construction projects rely on the project architect, Lender and at times, a third party Inspection Company to make certain that payment is applied correctly and within reason. Once the progress billing definition is truly understood, you will smoothly pass through the steps of preparing as well as submitting everything that is needed to complete a construction project.

Start with a Good Schedule of Values

  • A schedule of values is a list that each dollar amount is assigned to within each area of work that will be completed on a construction project. Construction projects are broken out by each scope of work and are typically separated according to the Construction Specifications Institute Divisions (CSI). Therefore, it is best to separate a project’s Schedule of Values into basic CSI divisions. Examples of these divisions are General Conditions, Site work, Concrete, Steel, etc. Once the areas of the scope are defined, then a corresponding value is assigned to each one so that a percentage complete can be established for each item as progress is made on the project.

Establish the Rate of Construction Retainage

  • A construction contract will typically require that “Retainage/Holdback” be withheld from each application for payment in order to provide the Owner or Lender protection from the Contractor due to not completing the entire project. 5% or 10% may be withheld from each payment to the Contractor and the funds that are held in reserve until the project punch list is completed at the end of the project. Each progress billing must take this retainage/holdback amount into account on each line item of the schedule of values and ultimately on the bottom line of the application.

Establish the Frequency of Progress Payments

  • A progress billing is exactly that, a billing that progresses towards completion a percentage at a time. It is necessary to establish the frequency that each application shall be submitted. A progress billing must specify the current period percentage of completion and the cumulative total – this must be done for both the individual items and the total as well.

Establish the Percentage of Completion

  • Vendors will submit their invoices for payment to a Contractor for the amount of work that they have completed over the period. A contractor must confirm that the work has actually been completed according to this percentage and then must include the corresponding amount within the progress billing to the Owner or Lender.

Submit it Right and Get PAID

  • Progress billings are often rejected by an Owner or Lender because of incorrect completion percentages, incorrect math, or applications that are submitted tardy. In order to achieve profitable progress billing revenue recognition, effect processing is important. Make sure to review vendor invoices and percentage completions with field supervision in order to avoid over/under billings and submit your progress billings report on time!

Premier generates the standard billing applications. The format of this report is user defined. You can choose to format the layout, the number of decimals, whether or not dollar signs are incorporated, apply a default % for retainage/holdback etc.

There are 3 steps required for progress billing:

  1. Add & Configure the Progress Billing Report
  2. Add the Progress Billing Lines
  3. Run the Progress Billing Application

 

Sample Progress Billing

progress billing

 

 

Categories
Accounting Job Costing

What QuickBooks Can Do, Jonas Premier Does Better

Sure, QuickBooks is great, but take a look at why the Jonas Premier Integrated Construction Software Solution is so much better. After all, they offer Customer Support in house.

JOB COSTING

QuickBooks:

  • Only has cost items, which means every cost item must be linked to a General Ledger account rather than group by Cost Type and then linked to a General Ledger account, thus creating more work during the set-up of a cost item.
  • Documents such as drawings, or contracts used in the course of Project Management work can be uploaded to QuickBooks but have to be attached to a specific customer or a specific estimate rather than storing all relevant documents to a particular job. Unlike Jonas Premier which allows for all Job related documents to be stored together with the Job information.
  • QuickBooks can provide basic job cost reports such as Profit or Loss by job, but lacks when it comes to complex job costing reporting such as Payment application reports which can be found in Jonas Premier.

Jonas Premier:

  • Allows for 5 levels of job costing, which provides a variety of useful options for the categorization of costs for both Accounting and Project Management Teams. This provides more versatile reporting options in both business segments allowing users to organize jobs by cost items, cost types, departments and even location.
  • Can be configured to set up job specific markups, whereas QuickBooks requires a new “item” for every markup that a user may want to apply which makes billing cumbersome.
  • Keeps the job costing and project management a separate functioning and reporting segment for Project Managers which allows them full use of the software without risking the integrity or confidentiality of the financial information also stored in Jonas Premier on the Accounting side of the product.

CREATING ESTIMATES

QuickBooks:

  • Creating estimates involves creating a new “item” for every cost item a user needs to track. Each “item” is then linked to an account on the Chart of Accounts.
  • These items need to be manually inputted during the creation of the estimate.
  • QuickBooks has the ability to import an item list from excel, however, the templates are not readily available to users, and must be created by the user. Unfortunately the creation of the template and subsequent import is not very seamless and therefore is not used as often.
  • The excel import that QuickBooks has available is only offered on their desktop version of the product, not on their cloud version, unlike Jonas Premier which has an excel upload that is easy to use and readily available on the cloud format.

Jonas Premier:

  • Premier offers two options in terms of creating an estimate. The first is to upload an estimate from Excel using a template provided by the Jonas Premier Support Team. This template is easy to use and allows for the application of various mathematical functions while remaining in an easy to read format that can be uploaded with a click of a few buttons.
  • The second option is to manually enter the costs while pulling the cost items from an existing drop down menu which would have been previously loaded into Premier using the aforementioned Excel upload template. While this option is similar to QuickBooks, the difference is the ease in which Jonas Premier allows users to upload their template of cost items.

WORKFLOW

QuickBooks:

  • QuickBooks offers a workflow in terms of applications available for use, Purchase Orders, Receive Inventory and Enter Bills. However where workflow in QuickBooks lacks is the ability to set approvals and also require sign offs in order to make a purchase or record an invoice.

Jonas Premier:

  • Jonas Premier allows for the System Administrators to set up a workflow requiring approvals at various checkpoints throughout the Accounts Payable process which helps to maintain the integrity of the data by reducing the amount of errors or unapproved transactions going through the accounting or job cost software.
Categories
Resources Uncategorized

Premier Team Hits the Field – Habitat For Humanity GTA

On Tuesday May 19th, the Premier Team put on their hardhats, construction boots and gloves and made their way over to the Brimley Rd. Construction Site to partake in the “Adopt-a-Day Program”. This program offers volunteers the chance to adopt a “build” day and participate among many other volunteers across the GTA. With the combination of teamwork, optimism and dedication, by the end of the day the drywall component at the Brimley Rd. Construction Site was well on its way. Volunteering time and providing financial support can create a tremendous difference.

 

An impact study conducted on Habitat Toronto Partner Families in 2012 revealed how affordable home ownership strengthens communities and opens doors for low-income youth:

 

  • 76% of homeowners report an improvement in children’s school grades
  • 81% report an improvement in children’s social lives
  • 92% of respondents say they will remain in their HFHT home for a very long time or can’t imagine ever moving

 

Everyone on the Premier team can agree that this experience was very positive and provided them with an entirely different outlook on how important it is to help break down the cycle of poverty. This program also offers anyone the opportunity to continue to volunteer- simply sign up online using the volunteer scheduler.

 

Remember, a little bit goes a long way!

17745296099_a2bdefe04d_z

 

WHAT IS HABITAT FOR HUMANITY ALL ABOUT? Habitat for Humanity Greater Toronto Area (Habitat GTA) is a non-profit housing organization that mobilizes volunteers and community partners to provide affordable housing and promote home ownership as a means to breaking the cycle of poverty. Founded on Christian principles, we welcome all people without discrimination to join us as we build simple, decent, and affordable homes in partnership with low-income families. By owning their own home, families are able to achieve greater stability, and improve their overall health, while building equity for their future.