Construction accounts are often complex because they involve multiple parties. There’s usually one owner, one general contractor and many sub-contractors. And it’s common for the owner to use a number of contractors to complete a job. So what does this mean for bookkeeping?
The project will most probably employ several temporary employees, so the payroll system might fluctuate weekly. Compared with a traditional company, this is a much more volatile system.
For these reasons, it's vital to keep your construction accounting software as up to date as possible to keep your business out of the red. If you recognise any of the following signs, it's time to consider upgrading your software:
If your construction accounting software is all consuming, it’s probably not doing its job. Your software should help you spend your time where it matters most – growing your business.
A decade ago, having your accounting software on your smartphone was an extravagant luxury. With the rapid technological advancements in the construction industry, being able to access vital information from any site you are working from, is paramount. Distributed teams make mobile accessible features even more vital so that everyone who needs to can use it.
Upgrade your construction accounting software if it has limited functionality on your mobile device or lacks vital features.
Your software should seamlessly handle all accounting tasks, and quickly and securely sync your data across all devices. Your construction accounting software needs to get the boot if you need to perform more manual input to fulfil important tasks.
If your current software isn't giving you the insight and analysis you want to run your construction company more effectively, it's time to upgrade. If you're not seeing positive financial results, then it's time to invest in an accounting software package that will help you improve your business's bottom line.
If your current accounting system is causing too many requests for support, or if your infrastructure doesn’t allow it to operate efficiently, then you should consider upgrading your accounting system. Time is critical in the construction business; less it be wasted on technical assistance or troubleshooting difficulties.
Quest Construction Software offers flexible, cloud-based accounting software that is always accessible, easy to use, and simple to set up. All you need to do is contact us, and you can get started right away.