Introduction

Completing the financial side of a project is always a struggle for contractors. Job costing, progress tracking, subcontractor compliance document managing, and many other processes cannot be performed using simple accounting software. Even well-known platforms like QuickBooks enable basic accounting and bookkeeping but lack the functionality to cater to a contractor’s specialized requirements. This is where Intersoft Systems Inc comes to the rescue. With complete construction industry and contractor specific functionalities, Intersoft software is designed to address these issues head-on. In this post, we will discuss the reasons why many contractors are switching to Intersoft from other traditional accounting solutions and how its features help build smarter, not harder.

Must-Have Features for Contractors

A successful contracting business needs the right tools to manage finances, monitor progress, and ensure compliance. Below we highlight some of the critical features that contractors expect from their accounting software.

Job Costing: Monitor Expenses by Project Phase, Recorded with AI Accuracy (Like Electric)

Cost management and financial forecasting are one of the most important crucial aspects of a contractor’s job. Any uncontrolled cost can burn away profits in seconds. Intersoft Drives AI Job Costing which allows you to maintain accurate records of all expenses at each ‘level’, from extensive excavation and finishing touches to electrical work.

This level of accuracy significantly improves an AI’s ability to project cash flow, which augments financial projections. Additionally, intersoft systems ensures complete coverage for every cost of construction which clearly depicts profits on each project basis. This allows all construction contractors to ease the load on their accounts as no further surprises will need to be dealt with.

Restructured Billing: Automatically Fetch AIA Authorized G702/G703 Forms and Management for Retention Tracking

Managing billing where payment has not yet been received is often perceived as a slow method by a lot of contractors. Depending on how design forms and payment milestones are structured, progress billing can quickly become cumbersome—working against you instead of for you.

Intersoft brings progress billing intergrated with automation and AI intelligence designed to NAHB standards, which automatically fetches and fills AIA authorized G702/G703 forms and later permits tracked payment milestone automation.

Retention management—one of the areas that, if omitted, is liable to cause disputes—is fully automated. Intersoft’s progress billing tools make certain that clients receive bills that correspond to work done, thus enhancing cash flow while billing errors are also minimized.

Subcontractor Portals: Integrate Payment Approvals with 1099s and Insurance Certificates

Document management from subcontractors is often a nightmare. Intersoft simplifies the process by locating all your subcontractor documents, such as payment approvals, 1099s, and insurance certificates, in one sophisticated, user-friendly portal.

This method enhances document control by combining several processes and fulfilling regulatory standards regarding backup documentation. Moreover, it expedites the approval of payments, and both contractors and subcontractors save precious time.

Compliance Tools: OSHA Reporting and Prevailing Wage Calculation

Businesses within the construction industry face a myriad of regulations to adhere to, such as prevailing wages and OSHA safety standards. Regardless, compliance is often an overly complicated, time intensive diversion from normal business operations.

Intersoft’s tools guarantee compliance by calculating prevailing wages automatically per job type and geography. In addition, reporting for OSHA becomes less complicated through automatic determination of sustaining standards and where appropriate, safety materials are provided.

Intersoft and Other Similar Platforms Intersoft Systems Inc cuts out the complexities associated with billing claimed to offer their clients advanced billing systems. Such systems don’t just allow users to record transactions but also help them prepare invoices and see changes in their cash flow.

Progress billing tools improved profitability for roofers by 18 percent and cut down billing errors to half

Intersoft is not an exception when it comes offering solutions to aid cash management. All a roofing firm had to do is plug in data into Intersoft’s interface and the operating systems take over simplifying processes such as invoicing or billing based on information updated in real time. It gets better! Intersoft claimed that over a year the roofing firm changed their approach to billing saw their profit margins increase by 18 percent and the chances of them making a billing mistake went down by 50 percent.

By allowing them set up automated payment procedures, the firm shifted from having to perpetually monitor financial transactions to simply recording them. This way intersoft has addressed the complex challenge of overhead costs caused by manual data entry.

Visit Intersoft Systems Inc now.

Conclusion

Construction professionals wanting to take charge of their financial management need very specific tools. One-size-fits-all accounting software is mostly ineffective in catering to the construction industry. Intersoft Systems Inc has tailored solutions for contractors that help manage job costing, progress billing, subcontractor compliance, and much more. If you are seeking to improve the way you run your contracting business, find out why smart contractors choose Intersoft’s construction-first software to build with confidence.