Accounting Software
Discussion
I'm in the process of setting up a construction firm and looking into accounting software.
I'll be needing it for the day to day stuff and an accountant will be doing the end of year stuff. I've seen Quick Books and xero mentioned in other posts on here. Does anyone recommend any other and know the pros and cons of the other two?
Any help would be great.
I'll be needing it for the day to day stuff and an accountant will be doing the end of year stuff. I've seen Quick Books and xero mentioned in other posts on here. Does anyone recommend any other and know the pros and cons of the other two?
Any help would be great.
Sage, and a separate, very expensive, software package for estimating, applications, retentions etc. They do talk to each other as well so we export all invoices to Sage etc etc.
I also use Kash Flow for my other business. I much prefer KF to Sage if I'm honest! Far easier to use, but doesn't integrate with as many other packages so sometimes Sage is the go-to software if you need to integrate it with something.
I also use Kash Flow for my other business. I much prefer KF to Sage if I'm honest! Far easier to use, but doesn't integrate with as many other packages so sometimes Sage is the go-to software if you need to integrate it with something.
I use http://www.freeagent.com. Really good with top class support by actual accountants.
One of the most efficient construction companies I know (did up to £90m t/o in 2007, then fell off a cliff, now back to ~£12m t/o a year) ran the whole thing in Sage and Excel.
FD was relatively good with Excel so each contract had a book which tracked cost and value (and did all the subcontractor retentions management and CIS). Sage was used to process all invoices and payments, which then could be reconciled back to Excel.
Top tip from him was each subcontractor gets a discrete purchase ledger account for each contract. So Jones & Sons working in Oxford was JSOxford1, Jones & Sons in Reading was JSReading3, etc etc etc. That way it was reasonably simple to track back to which subbie was owed what on which contract.
Good luck!
FD was relatively good with Excel so each contract had a book which tracked cost and value (and did all the subcontractor retentions management and CIS). Sage was used to process all invoices and payments, which then could be reconciled back to Excel.
Top tip from him was each subcontractor gets a discrete purchase ledger account for each contract. So Jones & Sons working in Oxford was JSOxford1, Jones & Sons in Reading was JSReading3, etc etc etc. That way it was reasonably simple to track back to which subbie was owed what on which contract.
Good luck!
I hate to rely on a system that was vulnerable to an accidental and unnoticed hit of the space or delete key that could then knock formulas out resulting in figures being misreported by a large amount (Excel).
That said software is just a tool. It's your process that gains you efficiency.
That said software is just a tool. It's your process that gains you efficiency.
jammy_basturd said:
I hate to rely on a system that was vulnerable to an accidental and unnoticed hit of the space or delete key that could then knock formulas out resulting in figures being misreported by a large amount (Excel).
That said software is just a tool. It's your process that gains you efficiency.
Ironically that is one of the primary reasons that we've stayed with Excel. We find it easy to check for anomalies with it being there in table format.That said software is just a tool. It's your process that gains you efficiency.
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