Construction Financial Management Software

The Balance Sheet gives a snapshot of your construction company’s financial position, showing assets, liabilities, and equity. It helps assess financial stability and project resource availability.

• Financial Health: See if your assets can cover your liabilities.

• Asset Management: Track the value of equipment and resources needed for projects.

• Credit Readiness: Provides lenders with insight into your company’s financial strength.

Premier offers a ready-to-use Balance Sheet with flexible options to view data by division, project, or consolidated, tailored to your construction business needs.

The Cash Flow Statement tracks cash inflows and outflows, crucial for construction businesses managing large project expenses and payments.

• Liquidity Management: Ensure you have enough cash to cover project expenses and bills.

• Forecasting: Predict cash flow needs for future projects and operations.

• Financial Control: Avoid cash shortages and plan for upcoming financial needs.

Premier provides a ready-to-use Cash Flow Statement with customizable options to view data by month, quarter, year, or project, helping you stay on top of your financial health in real time.

The Trial Balance provides a summary of all the general ledger account balances in your construction company, ensuring that debits and credits are in balance. It is essential for detecting errors and verifying the accuracy of financial data before generating reports.

• Error Detection: Quickly identify discrepancies between debits and credits.

• Financial Accuracy: Ensure the integrity of your financial data before final reporting.

• Preparation for Financial Statements: Acts as the foundation for generating accurate Income Statements, Balance Sheets, and Cash Flow Statements.

Premier offers a ready-to-use Trial Balance with flexible options to view data by division, project, or period, making it easy to ensure your financial records are accurate and aligned for reporting.

In a construction business, managing fiscal periods securely is crucial to maintaining financial integrity and preventing unauthorized changes. Premier allows you to open and close fiscal periods by role and/or user, adding an important layer of control.

• Role-Based Security: Only authorized users can modify or close periods, reducing the risk of errors or fraud.

• Accurate Reporting: Prevents changes to closed periods, ensuring that your financial data remains accurate and compliant.

• Audit Trail: Helps track who accessed and made changes to financial periods, supporting accountability and transparency.

For construction businesses, managing Work in Progress (WIP) is critical due to the long-term nature of projects and the complexity of tracking costs and revenue. Premier automates WIP calculations and reporting, making it easier to stay on top of project financials.

• Accurate Project Tracking: Automatically calculate WIP based on project costs, revenue, and progress, ensuring accurate financial reporting.

• Timely Insights: Get real-time visibility into the status of ongoing projects, helping to make informed decisions on project profitability and cash flow.

• Simplified Reporting: Generate WIP reports effortlessly, reducing manual calculations and potential errors.

For construction businesses with multiple entities, managing inter-company transactions can be complex and time-consuming. Premier automates the process of recording, reconciling, and reporting inter-company transactions, streamlining operations across different entities.

• Efficient Reconciliation: Automatically record and reconcile transactions between entities, reducing manual effort and errors.

• Real-Time Updates: Ensure all entities are aligned with up-to-date financial data for accurate reporting and decision-making.

• Time Savings: Eliminate the need for manual tracking and adjustments, saving valuable time during month-end and year-end closing processes.

• Compliance and Accuracy: Ensure compliance with inter-company accounting standards and prevent discrepancies between entities.

Premier provides detailed job costing reports that track every cost associated with a project, from labour and materials to subcontractor expenses.

• Comprehensive Cost Tracking: Monitor all project costs in real-time, including direct and indirect expenses, to ensure that each project stays within budget.

• Profitability Insights: Gain a clear view of project profitability by comparing actual costs to estimated budgets, helping identify areas for improvement.

• Accurate Forecasting: Use historical data to forecast future project costs and plan more effectively for upcoming projects.

• Customizable Reports: Generate job costing reports tailored to your needs, whether by project, phase, or cost type, to support better decision-making.