The core of Spectrum’s Construction Accounting Software functionality includes:
- General Ledger
- Accounts Payable
- Accounts Receivable
- Cash Management
- Job Cost
- Payroll
Track key performance indicators such as WIP, cost-to-complete, committed cost, earned value, cash flow, and more—all updated in real time and in formats that make sense to you.
Construction Accounting: General Ledger
- Better manage cash flow and track profitability to make important financial decisions
- Customizable reports for in-depth financial analysis
- Multi-company or departmental functionality Journal remark functionality
- and detailed ledger audit trails
Construction Accounting: Accounts Payable
- Ensure all necessary job information is complete including supporting documents
- Hold payments to vendors with lapsed insurance certification via automatic alerts
- Streamline invoice processing by customizing approval workflow
- Track sales and use tax and generate detailed reports
- Eliminate duplicate entries
Construction Accounting: Accounts Receivable
- See open items, changes, and a complete payment history
- Quick, easy access to customer data and payment details
- Track and manage all change orders and change requests to ensure nothing is left unbilled
- Process multiple billing formats
- Accept credit card payments from the field
Construction Accounting: Cash Management
- Manage multiple bank or credit card accounts
- Easily maintain funds in interest earning accounts for payroll or payables accounts
- Automatic updates to the General Ledger
- Quickly and easily void or reverse checks
Construction Accounting: Job Cost
- Analyze real time costs and revenue at any point during the project
- View and analyze cost breakdowns in a variety of formats
- Assign owner billing items and cost codes to multiple phases for cost and revenue analysis throughout the job
- Measure actual project progress and performance against estimates
Construction Accounting: Payroll
- Process payroll quickly and efficiently with tailor-made construction functionality
- Easily calculate employer taxes and burdens as well as process all types of union wages and benefits
- Automatically calculate prevailing wage rates based on type of work performed
- Realize automatic deposit, electronic payroll tax filing and other benefits, as well as complete Spectrum integration
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