A strong addition to your company is home builder software for the construction industry. By connecting this solution with your accounting software, you may get even more use out of your payroll administration while establishing a single point of data entry and increasing financial visibility. Below are the advantages of having a home builder software that has an accounting integrations feature.
Stop entering data twice into your systems.
You are aware of the advantages of managing all of your operations, communications, and data on a single web platform since your company utilizes home builder software like Build Macro. However, by keeping your accounting system separate, you are still forcing your staff to enter financial data twice, using up time and resources switching between two systems when they might be seamlessly exchanging information.
To plan and track your real-time project expenses, for instance, is similar to the following situation if your accounting system and construction system are not integrated. Your team must first get all of the paid bills from your accounting system. Your team will next need to compare those invoices to your estimate to determine which charges have been paid and which are still owed. Do you see any differences or omissions in the two reports? It’s time to review your calculations to determine whether you missed something or duplicated a figure incorrectly. Alternatively, you can opt to give up, absorb the higher expenditures, and move on. In addition to losing out on the productivity boosts that would have resulted from integrating the two systems, your business also exposes itself to the possibility of a costly human error while transferring data from one system to another.
Imagine a system that is entirely integrated at this point. One place to access data, including financial data, is your home builder software. As a result, your original estimate acts as the foundation of your project, and all of that information is sent to your accounting integration system which is already incorporated in the home builder software like Build Macro, establishing a one-to-one relationship and obviating the need for later reconciliation. When the two systems work together, you may benefit from both without having to attempt to use them both simultaneously.
Also read: Know about: Build Macro construction accounting integration
Achieve more financial visibility.
As previously indicated, it is difficult to measure real-time expenses across two dissimilar systems. Without a dedicated resource, your company is left in a condition of uncertainty where it must hope that all of its revenues total up at the end of the day to be equal to or less than its estimates. Your team’s ability to use or understand your accounting system may also be constrained. It follows that even if a team member other than your bookkeeper has access to your accounting system to verify expenses, they might not have the necessary skills to do the task.
Budgeting is the cornerstone of project management and the single determinant of project profitability, second only to your construction estimate. By integrating your accounting integrations with home builder software like Build Macro, you can provide real-time cost information to your whole team. With this financial support, you and your team will be able to monitor profit margins throughout a project and make timely modifications as needed to maintain profitability.
Spend less time and maximize your payroll management.
A time clock management feature is a common element of construction software programs that helps track, view, and report on staff activities. While accounting integrations in home builder software may assist in doubling these returns with extra advantages, these capabilities are effective methods to help save time in payroll management. Employees may record their hours worked, activities performed, the sort of hours spent, and more when they clock in and out using construction management software like Build Macro, for instance. To calculate overtime hours or assign labor expenses to project cost lines, these fields may be synchronized with your accounting system, removing the need for a bookkeeper to sift through spreadsheets or, worse, piles of paper timesheets.
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The current expenses on your budget may then precisely represent these labor charges so you can view the most recent task costs in your construction management software. Time clock management may be transformed from a laborious and time-consuming procedure into a simplified and intelligent one by integrating your construction and accounting systems.
Do you need further details? If you’re an existing Build Macro client, contact our experts. You can also learn more about Build Macro construction management software by scheduling a free 1:1 demo.