Estimated to be worth more than £100 billion, the UK’s construction industry plays a vital role in the UK’s wider economy. Proper financial management is integral to the success of any construction business, and that’s where construction accounting software can help.
Managing job costs in construction
For large construction businesses with multiple different contracts on the go at any one time, keeping tight control of job costs can be tricky.
With hundreds or even thousands of supplier and subcontractor invoices to keep track of in each particular job, it’s easy to see how costs can quickly spiral out of control and contractors end up going over budget.
Lots of businesses are still choosing spreadsheets to keep track of job costs, but this particular method is fraught with risk and can often lead to people duplicating work, too.
There is a better way to manage job costs, and this is where our smart accounting and job costing software comes in. All job costs are accounted for in one single integrated system, with the corresponding invoices available for users to access whenever required.
This also makes reporting on job costs far quicker and simpler, and users can set up both their own custom reports and dashboards, to make accessing and reviewing real-time job costs and other information much simpler.
With visibility of costs a key factor to the ultimate profitability of a construction project, it is important that these are monitored closely.
Take the headache out of payroll with CIS software
With a wide range of different types of workers on a construction project at any one time, including temporary contracts, weekly and monthly salaries, along with hourly paid labour, managing payroll across a large number of different construction projects is enough to give any Finance Manager a headache.
Using construction accounting software like Evolution Mx can take the hassle out of managing construction payroll though. It’s easy to track these different employment types in a single system, along with verifying and paying subcontractors with a direct link to CIS.
It’s easy to see how much is being spent on different types of labour, enabling Project Managers to make more informed decisions about the workers they require on site at any given time.
Find out more construction accounting software
These are just a couple of the sophisticated features our construction accounting software has to offer. The best way to see whether Evolution Mx is right for you is to organise a free on-site demo with our team of experts. Simply contact us today to do so.