Your Construction Business Has Outgrown QuickBooks. Now What?
How do I know if I’ve outgrown QuickBooks?
No matter what industry your business operates in, it is likely that you can only use QuickBooks for so long. It’s a great solution for a lot of companies. However, many companies get to a point where QuickBooks is not the best solution anymore. How do you know if your company has reached that point? Some of the common indicators include:
- You find yourself and your accounting staff doing more and more in Excel.
- You use other systems and solutions to track information and import summary information.
- i.e., you do payroll in-house, but use something other than Intuit Payroll.
- You track and pay invoices and bills in outside systems.
- You are entering the same data in multiple systems/places.
- You have more users than login credentials.
What are my options?
You have determined that your company may do better using a different accounting solution. Now, what should you do? Numerous accounting software options are available – here are some of the more popular options for construction industry users and some of their benefits:
- Offers flexible billing options
- Tracks retainages
- Customized reporting
- sage 100c MasterBuilder
- Accurately create bids
- Export estimates from bids for budgets, proposals, purchase orders and subcontracts
- Offers a project center to see all project management details in one space
- Integrated job costing
- Manage documents related to project management
- Mobile timecards for payroll
Before choosing any software, you should evaluate where the redundancies are in your current system, what you want your accounting system to be able to do, and your price range.
Software selection is an important decision. Being able to use the available features to their fullest potential can help to increase productivity, generate complete income and expense information, and provide the most useful information for strategic decision-making during the year.
The professionals of Yeo & Yeo’s Computer Accounting Solutions team understand the challenges that construction companies face when using financial accounting software programs. When you are ready to consider new software, we can assist you in evaluating your needs, selecting and implementing many of the top-rated financial accounting software packages. For assistance, please contact your local Yeo & Yeo office.