Contractors operating in multiple counties and/or jurisdictions in Alberta encounter more requirements for doing business than their counterparts working in only one county/jurisdiction. This is especially true when it comes to figuring payroll taxes.
That’s why accounting software for contractors, such as the Sage 300 software application, makes sense: it provides full payroll capabilities with added business intelligence that applies the costs to individual projects.
New companies supplying products or services to the oil and gas industry will soon realize just how time-consuming and inefficient their old methods are when they process payroll for the first time. They will find it particularly problematic if they are using off-the-shelf accounting software that doesn’t integrate with the rest of their system. It can bog them down due to the necessity of extra entries for tracking various taxes. Then, when their business expands, their existing software may offer little in the way of upgrades; they might need to invest in a new software platform entirely.
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In today’s competitive oil/gas marketplace, the use of business management software system provides more than just accounting capabilities, however. a business management software system’s greatest strength is its customization possibilities. Its human resources module creates personnel files that are in full compliance with privacy regulations while ensuring that employees and contract laborers are receiving the correct deductions for the Canadian Pension Plan and Employee Insurance.
A customer relationship management (CRM) component provides a collaborative way for sales and stakeholders to monitor customer orders. Managers and other decision makers can customize their dashboards to track orders and recognize opportunities to offer better solutions for each customer.
And the bane of any contractor’s existence: change orders. In Sage 300, change orders are no longer a ‘who-done-it’ proposition, as authorized decision-makers, from client to contractor, share transparency of information – including an audit history of orders.
Ultimately, every phase of a project can be accounted for through the many modules of Sage 300. In addition to its aforementioned abilities, it tracks labor costs, inventory management, and equipment maintenance, monitors the financial information for each project in real-time, and can be found in the cloud, where it is accessible in the office or on the road.
Questions? Please contact Asyma Solutions today for answers.