Income Statement (Profit & Loss Statement)
Get a clear view of your construction company’s revenue, expenses, and net profit to track profitability and manage costs.
Profitability Tracking: Monitor business earnings and losses.
Cost Control: Track expenses, labor, and materials to stay on budget.
Informed Decisions: Optimize pricing, costs, and investments.
Premier offers a ready-to-use Income Statement with flexible reporting by time period or division, tailored to your construction business.
Balance Sheet
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.
Cash Flow Statement Report
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.
Company net profit & cash
Track your construction company’s overall financial performance with real-time visibility into profitability and cash position across all projects and operations.
Interactive Dashboards: Monitor revenue, expenses, and COGS with dynamic charts that provide instant financial clarity.
Cash Flow Visibility: See exactly where your money is going and coming from with clear, visual breakdowns of all cash movements.
Profitability Analysis: Compare revenue against costs to understand true profit margins and identify opportunities for improvement.
Premier delivers live financial dashboards with intuitive visualizations, giving construction executives the real-time insights needed to optimize cash flow and maximize profitability.
Trial Balance
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.
Security for Opening and Closing Financial Periods
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.
Every project report you need
Access comprehensive project reporting across all aspects of your construction business, from costs and profitability to progress and compliance.
Complete Visibility: View project performance with 35+ reports covering budgets, actuals, forecasts, and margins.
Real-Time Data: Access live project metrics to track progress, identify risks, and optimize resource allocation.
Custom Insights: Filter reports by project, division, or time period to get exactly the information you need.
Premier delivers a complete suite of construction-specific reports out of the box, with drill-down capabilities and export options, giving you instant access to critical project data.
AI-Powered Assistant
Get instant answers to complex project and financial questions with Premier’s AI assistant, Eddie, designed specifically for construction data.
Instant Insights: Ask questions about project costs, margins, schedules, and contracts in natural language.
Document Intelligence: Search across all project documents, drawings, and communications to find specific information quickly.
Proactive Alerts: Receive automated notifications about budget variances, overdue items, and potential risks.
Premier’s AI assistant analyzes your entire project database to deliver accurate, contextual answers in seconds, helping you make faster, data-driven decisions.
Multi-currency
Manage projects and transactions across different currencies with automatic conversion and reporting capabilities.
Global Operations: Handle international projects with support for multiple currencies and exchange rates.
Accurate Conversions: Automatically convert transactions using current or historical exchange rates.
Consolidated Reporting: View financial statements in your base currency while maintaining original transaction details.
Premier supports multi-currency operations with real-time exchange rate updates and flexible reporting options, making international construction projects easier to manage.
Creating a budget for a company
Establish comprehensive company-wide budgets to track performance against financial targets and operational goals.
Strategic Planning: Set annual budgets across divisions, departments, or cost centers to guide business decisions.
Performance Monitoring: Compare actual results against budget targets to identify variances and opportunities.
Forecast Accuracy: Use historical data and project pipelines to create realistic, achievable budget targets.
Premier provides flexible budgeting tools with variance reporting and analysis capabilities, helping construction companies plan effectively and track performance against financial objectives.
Automated WIP and Reporting
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.
Inter-company Allocations
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.
