Faith Promise Church
Budgeting and planning have never been more important. Whenever crises arise, it’s important to be able to react swiftly. The coronavirus threat has put us in uncharted territory. The strong headwinds caused by this are trying for business. Many offices are closing, forcing employees to work remotely. Work stoppages, an unsteady supply chain, cash flow concerns, market declines, multiple and massive stimulus/rescue packages, daily and even hourly announcements on closures are all very real issues. The business environment has shifted to a new normal.
Talking with a few of our current and prospective customers in Alberta, they all voiced the same sentiments that the job profitability margins were very tight due to the economic climate. Believe it or not, now is the best time to look at improving efficiency; from collecting time from field personnel, reducing job costs to improving bid process.
Sage has had a phenomenal year of strategic alliances and acquisitions. This has made Sage 100 Contractor even more appealing to the construction industry in terms of increasing efficiencies while watching the bottom line.
Sage has partnered with:
Procore Project Management Integration
Procore now works with Sage 100 contractor to automatically share data between project personnel in the field and in the office staff. This means that you will reduce double entry, thus reducing human error that comes about from transcribing handwritten notes.
This is a 2D takeoff tool that has two-way integration capability for pushing takeoffs and making changes to an estimate. This will reduce the time you take to do a quantity takeoff by using an electronic drawing. This eliminates the need of printing and measuring your plans.
This is an Excel Add-in solution that is mainly used for analytics, reporting and workflow. Therefore, you can harness existing Excel skills which means a smaller learning curve. You can also create customized reports according to your reporting needs. This core functionality is extended to any SQL database.
Sage’s strategic alliances and acquisition shows that they are continually investing and enhancing their product offering.
If you are looking for real visibility for your business, Sage 100 contractor is a logical next step from Sage 50 and or QuickBooks. The core functionality will have General Ledger, Payroll, Accounts Payable and Receivables, Project Management, Purchase Orders and over 1,200 pre-built reports. Optional modules are Estimating, Document Control, Service Receivables and Inventory. Procore, eTakeoff and Liberty Reports are fully integrated with Sage 100 Contractor. These tools that will give you the extra edge to increase efficiencies and productivity at the same time.
For more information on the technology available Click Here
Do you want to provide and know more details about your job costs? If you are like most people, the answer will be absolutely!
This is where Construction Accounting Software comes in. Construction accounting has the same accounting principles with regular accounting. However, it has several distinct features like Job/Contract Holdbacks, Fixed Price, Time & Material, Unitary, Progress Billing and Job Costing (direct & indirect).
Since construction accounting is project based and each job is a profit center, we want to make sure we capture all transactions that are specific to each job.
We do this by using a process called Job Costing (or expense, cost coding). This is where you separate costs/activities into different categories like Concrete, Plumbing, Electrical etc. Once you have figured out your cost codes, you further group them in to cost types Labour, Equipment, Material, Subcontract, and other etc. Job costs will work in concert with the G/L.
When your tasks for each job is broken into activities called cost codes, it makes it easier for you to identify areas of concern by producing actionable reports. This means you can quickly identify areas that need improvement by comparing your actuals with budgeted costs. Therefore, you will be able to closely monitor your key performance indicators (KPI) like: Sales (Revenue) Growth, Income sources, Profitability over time and Working capital.
Your software should be setup to track each job, then show how it affects your company’s profitability. Construction accounting has a learning curve which can be easily achieved with Asyma Solutions help. Job costing helps any construction/service-related company to properly manage project-centered businesses.
Using KPI’s and being able to generate on the fly reports enables you to know which projects to pursue and which ones to let go.
Sage 100 Contractor is a logical next step from Sage 50 and/or QuickBooks. The core functionality will have General Ledger, Payroll, Accounts Payable and Receivables, Project Costing, Project Management, Purchase Orders and over 1,200 pre-built reports. Optional modules include Estimating, Document Control, Service Receivables/Management and Inventory. Procore, eTakeoff, Sage ToolOps and Liberty Reports are fully integrated with Sage 100 Contractor as added enhancements based off of your business requirements. These tools that will give you the extra edge to increase efficiencies and productivity at the same time.
For more information Click Here
Are you doubling up on payroll processes/systems? Are you thinking of using Sage 100 Contractor payroll? If the answer is yes, then keep reading…
You have one system that collects time and the other system does accounting. The two systems can’t talk to each other. This results in duplicate data entry and added costs.
How much is it costing your organization to run two systems? How happy is your payroll person every pay period?
Watching costs is at the heart of every business. Remaining profitable with higher costs is a self-defeating endeavor. However, you can minimize your costs considerably in the long run when you streamline your business processes. This means acquiring or investing in a solution that captures costs against the job, which includes payroll.
In my experience, you should invest in a system that is able to address your key pain points and has a high Return on Investment (ROI). If current systems and procedures do not tick all your boxes, then the alternative is to look at other complementing systems (vendors).
For example, you can have a great system that does a great job in accounting and project management but doesn’t capture time in the field. True nirvana is one system that does it all. The reality is that no system will ever give you 100% of exactly what you need but you can sure as heck get very close to 100%.
An integrated solution that you plan to implement should:
As listed above, there are several advantages of having ‘one’ integrated software solution. But, how do you off the two separate systems?
At Asyma Solutions we are well versed in moving/converting customers from other payroll systems to Sage 100 Contractor Payroll. You can use Sage Service/Field Operations and/or HH2 to capture time in the field and have it sync in real time to the back office Click Here.
If you are interested in learning more about the technology available for your business don’t hesitate to contact us at email@example.com or 1-877-448-9895.
Today's economic environment is certainly a major challenge for faith-based organization to navigate and survive. Which direction do you move? What do you adjust to maintain the delivery of critical services with reduced revenue and funding? How do we provide for increasing demand for transparency and accountability, while seeking ways to both produce and to demonstrate successful outcomes?
Topics: Automation, Budgeting, Budget Vs Actual, Sage Intacct, Financial Accounting, Faith Based, Reporting, Dashboards, Dimensions, Approvals, Visibility, Integration, Dimensional Accounting, Purchase Order Workflow
Many First Nations organizations we talk to are moving to a strategy based on outcome metrics that drive their organization toward greatness. The traditional focus of service delivery is changing to include significant business operations. Indigenous leaders must not only think about making a difference in their communities, but being competitive in business with the world.
Topics: Project Management, Productivity, Construction, Business Process, Technology, Guiding Great Businesses, Construction Technology, Mobility, Construction Software, Project Costing, Construction Reporting, technology best practices, small business
Historically, it is easy to see how technology has been adopted and how it has fundamentally changed a lot of key business practices around us. From the first commercial use of technology in an 1890 United States census (Source) to the mass adoption of Steve Job’s iPhone, technology has always pushed the limits of what is considered possible and opened our eyes to further opportunities. Today, that same sentiment still exists.
Running a business is never easy. When dealing with a global health concern, this difficulty rapidly expands and forces many business owners to adapt in order to survive. We have seen many changes made by business owners and have helped many others transition towards a system which allows organizations to become more efficient – even in such trying times.