Spreadsheets have been a staple of the construction industry for decades. They are a powerful tool for tracking costs, managing budgets, and organizing data. However, as construction projects become more complex and data-intensive, spreadsheets can quickly become cumbersome and error-prone.
That’s where Sage Intacct Construction comes in. This cloud-based accounting software is specifically designed for the construction industry, providing a more efficient and accurate way to manage finances and projects.
In this blog, we will explore how Sage Intacct Construction can replace spreadsheets and revolutionize the way you manage your construction projects.
1. Automated Financial Processes = Eliminated Manual Data Entry
The construction industry is highly competitive, and you need to have accurate and timely financial information in order to stay ahead of the competition. Sage Intacct Construction provides this by automating processes such as accounts receivable, accounts payable, budgeting, forecasting, and reporting. This automation eliminates manual data entry, which can be time-consuming and prone to errors.
If you’re wondering how you can stop replying on spreadsheets, systems like Sage Intacct Construction are the answer. Some documents for construction are often used to track project costs or monitor cash flow. Spreadsheets can become cumbersome when dealing with large amounts of data or multiple projects at once. With Sage Intacct Construction, all of this information is stored in one place so that it’s easy to access and update as needed.
One of the most powerful features of Sage Intacct Construction is its ability to automate many tedious tasks associated with managing finances. For example, users can set up automated payment reminders for customers who have outstanding invoices or create recurring billing cycles for regular payments such as rent or utilities. Additionally, it allows you to quickly generate accurate financial statements so you can get a better understanding of your business’s performance over time.
2. Streamlined Management with Real-Time Insights
Understanding time and expenses are vital in construction. Keeping track of all these details manually can cost time and money. That’s why Sage Intacct Construction was designed to include a variety of real-time reports, dashboards, and visualizations that provide you with real-time insights, saving you up to 40 hours per month and improving accuracy. Get tangible visibility into the key performance indicators that matter with Sage Intacct Construction.
Another way Sage Intacct Construction helps companies gain real-time insights is through its expense tracking capabilities. This feature enables users to easily monitor spend across multiple projects to ensure budgets are not exceeded, and costs are kept under control. Expense tracking also allows users to identify potential savings opportunities by comparing actual expenses against estimated costs for each job or departmental activity over time.
3. Reduced Errors in Fixed Asset Management
Traditionally, fixed asset management has been done using paper-based reporting systems. This means that information about each asset must be manually entered into a spreadsheet or other document on a regular basis. This can be time-consuming and error-prone; it also makes it difficult to get an up-to-date view of your fixed assets across multiple sites or projects.
Sage Intacct Construction offers a better alternative to paper-based reporting when it comes to fixed asset management. Sage Intacct is cloud accounting software designed specifically for the construction industry. It provides powerful features for tracking and managing your assets in real-time from anywhere with an internet connection—allowing you to quickly identify problems or opportunities related to your fixed assets before they become significant issues.
With Sage Intacct Construction’s Asset Management module, you can easily create detailed records for each of your assets with relevant information such as serial numbers, purchase dates, depreciation schedules, warranty periods, etc., which can then be tracked over time as needed. You can also set up automated alerts so that you’re notified when certain conditions occur (e.g., if an item needs maintenance). Plus, fixed asset accounting software data is automatically shared with your general ledger, accounts payable, and purchasing.
4. Smarter Allocations Management
Sage Intacct Construction’s Dynamic Allocations eliminates the need for spreadsheets and simplifies the process of allocating resources across multiple projects. This feature allows users or departments to allocate costs between different projects quickly and easily with just a few clicks. It also provides detailed reporting on how much each project has been allocated, helping managers make better decisions about where resources should be directed.
Dynamic Allocations makes it easy to track costs by job type, cost center, department, or any other criteria you choose. This allows you to see exactly how much money is being spent on each project or department at any given time—making it easier to identify areas where you can save money or reallocate funds as needed. You can also set up automated rules that will automatically adjust allocations based on changes in your budget or other factors such as labor hours worked or materials used.
In addition to making allocation management simpler and more efficient, Sage Intacct Construction also helps improve accuracy by providing real-time visibility into resource utilization across projects. This ensures that everyone involved in the project has access to accurate information at all times—helping them make better decisions about resource allocation and ensuring that no one is overspending on any particular task or area of the business.
Finally, Sage Intacct Construction’s Dynamic Allocations feature also makes it easier for businesses to stay compliant with government regulations regarding spending limits and other requirements related to construction projects. By tracking spending in real-time, businesses are able to ensure they remain within their allotted budgets while still meeting all regulatory requirements—saving them time and money in the long run.
Sage Intacct Construction – The Smarter Way To Do Business
Organizations that utilize industry-leading technology will be at a distinct advantage over their competitors. Free up time for your employees to focus on tasks that grow your business instead of just managing it.