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Financial Management

 
 
A Comprehensive View of Financial Management

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Combining robust cost management with a complete line of financial reporting options, Financial Management synchronizes job costing and ongoing changes with hard financial data. Create an unlimited number of statements – from simple G/L account reviews to complex, multi-company Income Statements. Drill down to the source transaction within financial statements, including direct access to scanned images like invoices and timecards.

User-definable and standard financial reports reflect a constant balance between General Ledger and its subsidiary Job Cost, Equipment Management, and Service Management ledgers. When it's time for reconciliation and audits, the account controls and security built into Financial Management provide accurate, streamlined results.

Accounts Payable links up with Purchase Orders and Subcontract Control to handle vendor obligations, invoice approvals, lien waivers, and disputed invoices. Accounts Receivable helps meet customers' obligations with flexible invoice formats, including AIA, Percent/Units Complete, Time and Materials, Cost Plus, Lump Sum, and more.

Financial Management components provide flexible, complete financial control:

  • Accounts Payable [+]

    Accounts Payable provides strict control and flexible processing of financial obligations. Tight integration with General Ledger, Job Costing, Purchase Orders, Subcontract Control, Equipment Costing, and Service Management ensures that all commitments and payments are processed efficiently and accurately.

  • Accounts Receivable [+]

    Accounts Receivable handles all the special requirements of construction billing and provides the information needed by managers to minimize questions and disputes, monitor accounts receivable, and pursue timely collections.

  • General Ledger [+]

    General Ledger features a powerful financial statement formatter, recurring journal entries, and complete integration with other Management Suite capabilities.

  • Document Management [+]

    Document Management controls the flow of financial information through Management Suite and tracks critical documents related to Accounts Payable, Accounts Receivable, and General Ledger.

  • Payroll [+]

    Payroll includes everything needed to process and report construction payrolls. Record work and calculate earnings, benefits, fringes, insurance liabilities, and taxes. Printing checks and updating all costing and financial records completes the payroll cycle. From small, non-union companies to large firms working in multiple states with multiple unions and extensive benefit plans, Management Suite Payroll provides an efficient and economical alternative to manual or outsourced payrolls.

Management Suite is the Profitable Way to Incorporate Job Cost Data with Accounting Data for Flexible, Complete Financial Control.

 
 
 
 
 
Learn more about Maxwell Systems Management Suite
 
 
 
 
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An Accounting Solution You Can Count On

Learn the 6 Reasons why a better fit with job cost accounting software can boost your profitability.

Moores Electrical & Mechanical Construction, Inc.

Moores Electrical & Mechanical uses Maxwell Systems Management Suite to improve service management, including dispatching/scheduling, work order tracking, pricing and billing, contract maintenance, and financial reporting. Theyve been able to improve communication, customer service, and cash flow,  

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Our Story of Complete Construction Software

Maxwell Systems provides construction software solutions that help contractors to streamline workflow, increase productivity, and improve profitability. Furthermore, we understand that today's contractors must optimize processes across all business areas to gain or maintain an increasingly important competitive edge and ensure a successful business. Critical, to that end, is timely and efficient communication and information access among estimating, job cost accounting, and project management teams.

By using a Maxwell Systems complete construction software solution, you'll be able to better operate your business with increased efficiency and streamlined operations, and confidently increase profitability on every project. You will have the tools you need to accomplish more in less time; taking the guesswork out of reaching true profit potential; and improving financial stability for long-term benefit.

Why Maxwell Systems?

Maxwell Systems is truly unique with its ability to offer contractors a complete, seamless software solution that allows:

  • A new level of continuity and productivity among estimating, job cost accounting, and project management
  • Better insight, analysis, and financial oversight for owners to make informed and timely decisions
  • Improved operational efficiencies, cost reductions, and increased profits

Contractors value having an end-to-end solution from one company:

  • All applications work together seamlessly
  • Efficient access to comprehensive support and services
  • A stable technology partner committed to customer success

How Your Business Benefits

A complete construction software solution from Maxwell Systems provides end-to-end control of your business so you can see a day's profit potential at a glance, identify and prevent potential financial losses, spot discrepancies and errors, and manage projects with accurate information in real-time.

With tailored features designed to fit each member on your team, construction company management software ultimately allows your business to:

  • Attain end-to-end control and increased visibility
  • Achieve easy and accurate reporting with real-time data
  • Optimize project execution for maximum profitability
  • Streamline operations with seamless workflow

The Bid-to-Cash Cycle Explained

Managing each of the key process areas of a construction business – Estimating, Construction Accounting, and Project Management – requires vastly different talents and areas of expertise. The reality is that each of these functional groups is related and dependent on one another.

For your organization to run in an optimal fashion, the groups much work together in an optimal fashion. Together, these functional areas compromise what we describe as the Bid-to-Cash Cycle. And our goal at Maxwell Systems is to provide software for construction so you can bridge the needs of the functional groups, better manage this cycle, and so maximize profitability.

When construction estimating software, construction accounting software, and construction project management software are working together in a seamless system as a complete construction business management software solution, then a contractor is truly poised for optimal profit and productivity.

How does a complete solution fit your part of the cycle? Here are a few examples:

  • Owner: It's all about reducing waste, uncovering lost opportunity, exposing shortcomings, and maximizing resources – all which impact profit and the bottom line. With end-to-end visibility of every project, executives can hone business strategy, improve control of cash flow, and keep financials in the black with accurate ROI.
  • Estimator: Beyond estimating projects, the estimator can access more accurate information in regards to how the project actually performs. This will allow the estimator to improve accuracy on future estimates with actual labor and production rates, updated material prices, and other resource related items.
  • Accounting: Not only a company's construction accounting system, a complete solution helps to streamline the procurement processes for optimal efficiencies and produces more accurate purchasing processes. Additionally, billing processes, inventory issuances, and many other processes are streamlined. Less data entry, better accuracy, and reliable audit trail allow convenience and peace of mind.
  • Project Manager: The seamless workflow from Estimating to Project Tracking allows for a streamlined method of creating the job and then tracking performance against the estimate. Within the complete solution, the construction project management programs also provide the detail required for the Project Manager to understand what the Estimator was thinking when the bid was put together. Plus, by accessing real-time information whether in the office or in the field, the project manager can track progress, be more agile, and better handle all aspects of jobs from beginning to end.

Bottom Line

To succeed in today's competitive marketplace, construction business owners must improve productivity and have end-to-end visibility to see how jobs perform (and turn profit) from start to finish. Maxwell Systems knows construction company software and can be your partner by offering truly unique products (as well as support and services) that address the entire construction project lifecycle – from digital takeoff through final cash payment. Our seamless system provides your company with all the capabilities you need for estimating, job cost accounting, and project management, and ultimately for superior insight and analysis of your business.

Imagine the flexibility and insight by having one solution for estimating projects, for construction accounting programs, and for construction project software! All that and more in one system will help your business be more competitive and profitable.

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Complete Construction Software Solutions
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