Accounts Payable - Construction Accounting Job Costing Project Management

Serving the Construction Industry Since 1979

Construction Accounting, Job Costing, and Project Management.

If you think that job costing is all it takes to have a good construction accounting system – think again! Yes you need a firm handle on your costs, and The Power Tools does that better than anybody, but you also need to be able to control those costs. And that’s where The Power Tools Accounts Payable System comes in.

In almost every other industry, the Accounts Payable function is strictly a clerical function, found only in the accounting department. But most construction managers know that subcontract and purchase control can only be achieved with a good construction accounts payable system. As much as 75% of your Accounting Department’s time is spent in the Accounts Payable process. Receiving and paying invoices is a constant, on-going process. So it better be good.

The problems of having to handle so many accounts with so many different people over extended periods of time can all be solved by our Accounts Payable system. It improves profit by watching for available discounts, reduces costs by preventing double payments and over payments. It reduces your risk by warning of expired dates of your subs workers comp and liability policies. It can even help you when you talk to your bonding company.

The Power Tools recognizes that you don’t pay all your bills the same way. There are vendor invoices that need to be paid by some due date in order to take advantage of discounts. Other bills get paid when you are paid for a particular job. Naturally tracking the discounts and retainages for each can be a time consuming job – without The PowerTools construction accounting software suite.

To whom do you owe money? How much do you owe them? When do you have to pay them? These are the basic questions that have to be answered every day. The Cash Requirements Report is ready with the answers. Since this report asks for a due date, you can input any date, and use it for cash forecasting, or for a final checklist before you run checks.

Features and Functions:

	Immediate posting of invoices and payments provides for more timely job costing.
	No complicated month-end closings. Our date-driven system allows multiple month processing and makes your month-end processing a snap!
	A separate history file maintains vendor and invoice numbers to guard against double payments.
	Offers check hold/release by job, vendor or invoice.
	During invoice processing, each account distribution is validated and displayed to insure accuracy.
	Automatically calculates discounts and retainage.
	Tracks workers comp and general liability expiration dates for subs.
	Does complete check reconciliation.
	Prints joint checks, 1099’s , even lien releases.
	Handles 99 companies with 10 checking accounts per company.
	Set up your own “class codes” to track equipment rentals, or any type of Purchase Orders, etc.
	The commitment system is so complete, it holds each commitment (Subcontract, Purchase Order, etc.) along with their change orders, payments, and retainage. So you can see in one place how you stand with each sub. This detail can be held for the complete life of the job.
	Prints Rolodex cards, and mailing labels.
	Invoice descriptions, unit-of-measure, and even quantity amounts can update the Power Tools Job Costing system
	Search features for vendors, general ledger accounts, job numbers, cost codes and commitments.
	Standard default account numbers can be set up by vendor for easier invoice processing.
	Vendors can be added during invoice processing.
	Automatic allocation of sales tax and freight during the invoice distribution. Saves time and hassle in distributing the “extras”.
	Checksheet processing. As with all of our systems, the A/P system offers the unique step-by-step processing guide for complete operation.
	Restart options in printing. Takes the hassles out of printer jams, and running out of paper or checks. You can simply restart the report on any page or check number.