Much of what we’ve covered in these lessons have been traditional accounting components. Payroll, invoicing, and billing are common accounting tasks. What separates Abio from traditional accounting systems is job costing.
By assigning expenses and costs to cost centres, we give you the ability to tightly control the financial aspects for each of your construction projects. Because payroll, payables, billing and equipment are fully integrated with the job costing system, Abio always knows exactly how much time and money you’ve spent on each cost centre.
If you’ve used estimating software to cost out your project, you can import those estimates as budgets for your cost centres. Or you can enter these directly into Abio. Regardless of where the budget originates, Abio will forecast how closely you are keeping to your budgets. Tell Abio how much progress you’ve made on each centre and it will immediately forecast your cost to finish that work. You can take snapshots of the financials at any moment in time. A snapshot is a static record of the dollar and hour amounts for each of the cost centres in a job. In this way, the dollar values the forecasting uses won’t change while you’re measuring and recording your progress. Taking snapshots gives you the ability to say: this is how much we’ve spent by Thursday, and this is how much work we’ve done by Thursday. There’s no need to worry that a large payroll or invoice is going to muddy the waters. Forecasted costs for each centre are combined to give you an overall forecast for each job. If you’ve budgeted time and costs for each centre, you can also know how close you are keeping to your budget.
Payroll, purchasing, equipment, and billing all feed into job costs. This course will show you how to set up jobs, areas, and centres. We’ll then show you how to review job costs, validate progress, and identify profit and loss. We’ll also show you how to tie revenue cost centres to expense cost centres. Our Revenue Analysis report will ensure your revenue is at the margin you expect it to be at.