Construction Accounting Software

Construction accounting software such as construction payroll programs are tools which are just right for the construction industry and are also flexible, providing a number of features. Since tracking job cost is essential to construction management, the software distributes gross pay and hours to jobs. The software also figures out the debits and credits to post to the general ledger.

The major features provided by this construction accounting software are:

· FREE tax changes · State/local tax withholdings · Multiple states per employee · Employee loans · Cafeteria plan (Act 125) · Garnishments · Pro-rate salary to jobs · Non-taxable expense reimbursement · Vacation, sick and holiday hours · Distributes to job cost · Multiple hourly rates per employee · Union withholding · Taxable & non-taxable union contributions · Employee with more than one union · Complex calculations for the union fund · More than one payroll in one pay period · Corrections made easier · Wage rates that are prevailing · Printing on check forms · Deposit directly Direct deposit · Check for customization · Manual checks which are easy to record · Employee record notes · The whole audit procedure Complete audit trail · Details of hiring, terminating and rehiring. · Getting started easier with interviews · Can be installed any time during the year · Tight multi level security system

Gathering information on job cost is simple using this kind of construction payroll software. This construction accounting software simultaneously files job related details even as you are entering A/P invoices, writing checks, billing customers, preparing payroll, etc. Consequently, information regarding the job cost is always updated and corresponds to your account records. This helps the contractors to identify current problems and estimate future projects accurately.

Reports: There are a number of reports that can be generated using this software. These include: · Job cost history · Budget vs. actual cost · Labor hours · Billing status · Subcontract status · Purchase order status · Job financial status · Over/under billings · Expected cost to complete · Work in progress · Committed cost · Labor productivity · Unit cost The payroll reports generated by this software include: · Details of the pay records of the employee · 941 summary · Quarterly unemployment · Certified payroll register · State and local tax withholding · Workmen's comp insurance · Payroll by Job Id · Pay and withholding summary · Payroll overhead · Retirement plan Thus, the construction accounting software is indeed very helpful in getting a holistic picture and streamlining the payroll process.