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Foundation Software Releases CPA Audit/Review Module
For more than 20 years
Foundation Software
has helped thousands
of labor-intensive contractors
become more competitive
and profitable by improving
their financial analysis and job
costing practices with FOUNDATION
for Windows construction
accounting software.
Foundation Software recently
released a new, patent-pending
CPA Audit/Review module,
designed exclusively for the
audit/review process. The module
is a free add-on to the FOUNDATION
for Windows construction
accounting system and was
developed based on extensive
input and recommendations
from construction-focused CPA
firms across the country.
The patent-pending CPA
Audit/Review module allows
contractors to easily gather
and prepare the information
needed for an audit/review
from one centralized location
within their accounting software.
The module also helps a
CPA to avoid countless difficulties
when trying to extract
information from their client’s
computerized system because
everything they need for an
audit/review is readily available
from the central screen or console,
which reduces inefficiency
and error.
HOW THE CPA/AUDIT
REVIEW MODULE WORKS
The typical audit/review
requires a multitude of reports
and detailed transaction
records. Foundation Software’s
CPA Audit/Review module features
a centralized CPA
Console that allows the user to
easily select from an extensive
list of reports that are critical to
the audit/review process.
Each report follows recommendations
from the PPC
Guides for Accounting and
Auditing, and was designed to
show information the way most
CPAs want to see it. The console
also allows the CPA to
easily make corrections to the
data or re-class items, when
necessary. Examples of reports
an auditor can pull include:
• Gain/Fade Reports:
Similar to the contractor’s
Over/Under billing report
but in a format preferred by
CPAs, this report gives
information on the gain or
fade (profit or loss) of each
job over several periods in
order to give a snapshot of
a contractor’s bidding and
billing processes.
• Materiality Reports:
For Accounts Payable,
Accounts Receivables and
General Ledger, materiality
reports are available to help
locate transactions of a
minimum dollar amount
and trace them from start
to finish.
• Billing Backlog Reports:
The purpose of this report is
to show work remaining to
be completed in the format
used by most CPAs.
• Cut-Off Reports: For
payable invoices, receivable
invoices, checks and cash
receipts, these simple
reports allow the CPA to
see at-a-glance payments
made or received outside
the audit period for invoices
inside the period.
• Flexible Aging Reports with
Materiality: FOUNDATION’s
already powerful Aging
Reports have been enhanced
with features like aging by
transaction date and the
ability to include only transactions
with a minimum
dollar amount.
• Multi-Period Trial Balance:
The standard Trial Balance
can now be run for up to five
periods (weeks, months,
years, etc.). As with all
reports in Foundation, it can
quickly and easily be exported
to a Microsoft Excel format
for use in CPA-specific
audit software.
Also available is the FOUNDATION
for Windows’ CPA
Audit/Review Guide. Coauthored
and edited by construction-
specific CPAs, the
guide includes detailed instructions
on the various reports,
how to extract information for
the audit/review process and
an overview of the FOUNDATION
for Windows construction
accounting system.
Foundation Software
Tracie Kuczkowski
150 Pearl Road
Brunswick, Ohio 44212
Telephone: (330) 220-8383
Fax: (330) 220-1443
www.foundationsoft.com
Email: info@foundationsoft.com
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