Even a small company may spend dozens of hours each month to merely comply with red tape, taking up time (and energy) that could have been spent more productively elsewhere. In recent years,construction accounting software solutions such as Integrity’s own Evolution M software have emerged with an aim to cut the time spent on tedious administrative tasks and enable businesses to operate more efficiently. Read on for some quick tips of cutting through your company’s mountain of paperwork.
Online filing systems
In today’s world, your documents and records tend to be stored digitally instead of physically. To accompany your physical filing systems, you need digital storage systems and processes that all the relevant members of staff know how to use correctly. If you use more than one PC or would like your company’s files to be accessed by certain staff while on the move or at home, you may wish to consider a cloud storage solution. Construction accounting software also offers plentiful file management options. Learn the ins and outs of your digital file system and ensure that all staff members understand where and how relevant files are stored. This will save time, reduce misunderstanding and help you avoid incomplete or duplicate files. As with physical filing systems, it is important to remain on top of digital ‘paperwork’ – ensure that email attachments are saved and filed promptly and that emails are sorted into folders as soon as possible. An efficient filing system might not reduce the paperwork burden, but it’ll certainly make it less daunting.
You’ve probably started using some form of software for your accounts instead of relying on hard copy ledgers, but few companies fail to take full advantage of the many boons of accounting software. Use construction accounting software to complete cost value reconciliation in just a few clicks. Automate key subcontractor management tasks such as CIS verification, use report templates to create professional financial reports for each job or your annual performance and set up alerts for purchasing limits. These automations reduce time spent on essential administrative tasks and make it easier for you to complete non-essential (yet valuable and enlightening) tasks.
If you’re making do with a homemade set of Excel spreadsheets to assist you with paperwork, you’ll soon find that you have to spend hours working to overcome any problems you come across. In such a specialist industry, it is unlikely that a quick online search will solve your problems. Having good quality support on hand is another advantage of using construction accounting software such as Evolution M. Our team of experts can help you quickly resolve any issues you may have with your software, ensuring your admin tasks run smoothly and you can reduce that mountain of paperwork swiftly and efficiently.
Want to learn more about upgrading to Evolution M? Read our seven step guide to upgrading your construction accounting software.