| Accounting systems form an integral part of any | | | | union reports, inventory, equipment tracking, work |
| successful business. Proper accounting not only | | | | in progress, etc. |
| helps the organization know its monitory worth, | | | | In this computer age, there are many software |
| but also works as leverage to climb the ladders of | | | | packages available. Software specifically developed |
| growth. A construction company is like any other | | | | for the construction industry incorporates their |
| company and has many responsibilities towards | | | | specific requirements and are user-friendly and |
| their employees, customers, vendors, investors | | | | can be operated by the personnel with little |
| and government. They are bound to answer | | | | computer knowledge. Apart from fulfilling |
| questions or queries that are raised time to time. | | | | statutory requirements such as balance sheets, |
| Unless, they maintain a sound accounting | | | | profit and loss accounts for company and outside |
| procedure and proper reporting systems they can | | | | agencies like sales tax and customs departments, |
| not fulfill these requirements. | | | | these packages generate innumerable reports |
| The construction industry has some specific | | | | which would be very helpful in company's decision |
| accounting requirements. Apart from routine | | | | making process. |
| receivable and payable accounts, they need | | | | Most of this accounting software covers four |
| systems for project estimating, job costing, | | | | major areas of construction industries. |
| overhead expenses, project schedules and | | | | Accounting module covers, A/P, A/R, check |
| contracts, project billing, vendor tracking and | | | | writing, financial reports, inventory, job costs, |
| invoicing, customer management, etc. A typical | | | | payroll, project billing, cost estimating module |
| construction accounting system includes accounts | | | | covers assemblies, as well as unit costs, project |
| payable, job cost management, accounts | | | | management module includes change orders, |
| receivable, payroll, detailed job budgets, time and | | | | contract writing, material takeoffs, punch lists, |
| material billing, general ledger, AIA billing, | | | | schedules. Business management module deals |
| subcontract status, custom job reports, certified | | | | with appointments, customer relations, leads, |
| payroll, over and under billings, purchase orders, | | | | property management, sales, etc. |