Construction accounting software  

ATW is one of the leading resellers of accounting and business management software developed for the construction and allied industries.  

Today's construction accounting software systems include a fully integrated Construction Industry Scheme (CIS) module for handling sub contractor tax and project job and time costing modules for managing projects.

Construction accounting software, as part of an overall accounting and ERP system, is ideal for any SME company in the construction and allied industries that employs sub-contracted employees. It enables these firms to handle Inland Revenue tax deductions at source and automate many of the processes they are obliged to undertake on a routine basis.  

ATW sales and marketing director, Richard Watts, explains why construction accounting software for the Construction Industry is so good: "It allows every aspect of CIS to be automated and enables construction firms to make considerable productivity and efficiency gains when transferring from other systems."

Research shows that the industry is still predominantly served by old technology and that historically the market has been slow to embrace advancements in IT software.  

There are very few fully integrated, true Windows, software products available to construction companies, and after considerable research ATW believes it is able to provide software that is uniquely capable of meeting the specific requirements of the Construction Industry. This can be delivered by either a tailored solution where requirements are very specific or by taking advantage of well known products and customising aspects of functionality.  

Richard quotes: "Many companies in the construction industry of course do the same thing BUT as they will tell you they do the same things differently. It is these differences that require the software benefits as it is these differences that differentiate them as a business."  

Mid range modular market leader Exchequer Enterprise is one product specifically suited to the Construction Industry. Exchequer's suitability is backed up by Rob Steele, Co-founder and Commercial Director at Exchequer Software who explains "Exchequer Enterprise delivers a compelling price/performance proposition to the construction industry, providing companies with fully integrated accounting, reporting and job costing software, which supports all of the legislative aspects of the Construction Industry Scheme."

Key features of a CIS module:

• It reports on all payments to sub-contractors by the contractor over a given period of time
• It automatically withholds tax from those sub-contractors who are registered as being taxable
• It generates Vouchers (CIS certificates) for each sub-contractor of all payments made and tax withheld for their own records
• It reports on all tax withheld for sub-contractors by the contractor over a given period of time
• It provides pertinent CIS/RCT statutory information for reporting to the revenue authorities.

Construction accounting software is most effective when fully integrated, with an accounting and business management software product. It will prove to be a real asset to Contract Managers and Account Managers alike.  

The latest functionality facilitates control of a contract from start to finish, enabling budgeted costs, committed costs and actual costs to be compared across unlimited cost heads at any time.

Project & job costing main features:

• budgets set at various levels across unlimited cost codes
• integrated purchase order processing to report committed costs by cost code
• automatic transfer of work in progress
• efficient handling of CIS deductions
• calculations of tax liability and its impact on retentions
• CIS23 / CIS35 voucher production
• Recording of CIS24 voucher details
• CIS reporting, including CIS36
• Uplift on costs
• Extensive reporting on any financial aspect of a project.

To find out more about how ATW can help supply, install and maintain Construction accounting software to help you integrate your business processes and save your organisation time, please fill out the enquiry form.

Software for industryConstructionDistributionNot for profitManufacturingBusiness ProcessesOrder processingStock controlInvoicingE-commerceJob costing & CISManagement reportingSoftware ProductsChoosing the best accounting softwareExchequer