Complete audit trail
In FOUNDATION’s construction accounting software, various modules are tightly integrated, and all transaction detail, including posting date and transaction date, are stored right in your database. Since this information is kept as a permanent record, you can always access reports by transaction date, actual posting date, account, division, job, journal, module or transaction number, allowing for accurate review and auditing of your accounts.
Income Statements and Balance Sheets
FOUNDATION‘s predefined Income Statement and Balance Sheet Reports are flexible and able to accommodate your company’s reporting requirements. Run standard, budget vs. actual and divisionalized income statements. And if our predefined formats aren’t laid out exactly the way you like them, our G/L FinancialGenie lets you create custom-formatted financial statements, categorized, sorted and indented to your specifications.
When it comes to allocating overhead expenses, FOUNDATION gives you options. Allocating overhead through the General Ledger Module allows you distribute overhead proportionately across all jobs based on accounts and optional weight factors you choose. FOUNDATION does the math. The Overhead Allocation Report allows you to view the results of these calculations so you can see truly accurate job costs.
For your construction projects, getting and staying bonded is a must. To stay bonded you need to provide complex reporting that meets your bonding company’s or surety’s requirements. This becomes easy when you use our Over/Under Billing Report, designed with input from both a leading construction CPA firm and several bonding and surety companies. This report compares your job’s percentage of completion to the amount billed to date so you can determine whether you’re on track with accurate detail of your profit or loss.
When you need to post adjustments to your General Ledger, FOUNDATION lets you do this directly from the Over/Under Billing Report, while also preventing you from making repeat adjustments.
Statement of Cash Flows
Run Statement of Cash Flows Reports based on your unique chart of accounts for any period in the history of your database to see clearly at any point how your company is doing with operating cash.
If you need a report specific to your company, FOUNDATION’s easy-to-use DataGenie allows you create any number of reports from the ground up, letting you be sure that the information you need to see is presented the way you want it. The DataGenie uses an easy drag-and-drop interface, so there’s no programming knowledge required to successfully create the reports you need!
General ledger functions
Expert Allocation of Overhead
Not all expenses can be allocated directly to a job. Some overhead costs, like certain office and equipment expenses, require a more considered approach. FOUNDATION offers multiple methods for overhead allocation and gives you all the tools you need, including weighted formulas that make sense for your company.
Straightforward Account Budgeting
Managing your accounts should be a simple process, and FOUNDATION’s tools are designed to keep it that way. Accounts can be budgeted for any length of time, and entering a budget is as easy as making a journal entry. You can also use our G/L Budget Report to review budgets for any time period.
Simple Cash Account Reconciliation
In FOUNDATION, reconciliations are kept simple too. Clearing outstanding checks or deposits is as easy as enabling a check box. If you have a lot of checks that you clear manually, you can use our customizable import tool to bring in checking account data right from your bank statements. That means less time spent on data entry.
Create Recurring Journal Entries
Journal entries are a basic piece of accounting, but that doesn’t mean all software handles them the same. As well as basic or adjusting journal entries, FOUNDATION lets you automate recurring entries. This makes it easy to spread the recognition of an annual expense over the course of a year.
Date-Sensitive Transaction Histories
Because FOUNDATION databases are built on Microsoft® SQL Server® technology, your system stores historical data for every single transaction, with no exceptions. FOUNDATION gives you full access to these histories with reports that can be viewed for any date range and any length of time.