Construction Accounting for Subcontractors

Our own fully integrated construction accounting system we call “TRUE Accounting” designed for subcontractors with automatic entry creation from invoices, pay apps, inventory, vendor bills, and shipping. Track receipts, disbursements, merchant transactions, and deposits. Automatically downloads bank and credit card statement data. Reconciliation, credits, various access permissions, and custom G/L mapping rules.

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Proud member of the
Construction Financial Management Association

Over/Under Billing & WIP Reporting

Allow TRUE to take data from the Operational side of the system and with a click, apply Job Costing to various Jobs and Contracts. This process will feed the Accounting portion of the system and allow for advanced project performance reporting included but not limited to: Over/Under Billing Reports, Summarized and by Contract WIP Analysis Reports, Job Costing Reports for both Labor and Material expenditures.

General Journal

A unique General Journal containing an Unposted and Posted Journal draws a clear line in the sand for what entries are included and not, in TRUE financial statements. Allow team members to create journal entries from root level source documents and the post entries with a click to compile financial statements.

Bank & Transactions

Reconcile Bank and Credit Card accounts from transactional data created in TRUE with our Reconciliation Modules. Printing checks and creating Deposit Tickets allowing for Bill payment and receipt roll-ups to complete the day-to-day business processes.

Payroll Integrations

Integrating with the largest payroll providers in the country, TRUE’s time clock provides you the tool for team members to punch-in and allocate time to Projects, while processing time data for Payroll Providers and conducting Job Costing within a single Module.

Taxes

Run Sales and Use tax reporting for single or multi-tiered tax jurisdictions. Let TRUE do the leg work compiling your taxable expenditures for reporting to your State, City or County tax authorities.

Reports

Preparation of Financial Statements through interactive reports offers users limitless performance measurement capabilities while providing the documents you need for a respective Bank, Bonding or CPA Reviewed Financial Statement.

Other Key Features

  • Manage more than one company or brand using a single copy of TRUE.
  • Journal entries can be created for a specific company or brand, and all reports can be run for a single company, or all companies aggregated.

  • Automatically apply classes to journal entries based on associated job / contract for all journal entries.
  • Segment financial reports by class.

  • Build arbitrary groupings of accounts to simplify financial reports, showing the summarized values for a group of accounts rather than showing each account individually.

  • Save complex journal entries as templates to recreate them in a single click.

  • Track the balance of accounts over time and measure actual performance against budgets.
  • Dynamic charting of budgeted values, actual values, and variance.
  • Create multiple budgets for each period.
  • Include classes in budgeting data.

  • Allow payment processing for your customers via ePay URLs.
  • Take credit card or ACH payments directly from your customers with minimal setup.
  • Store credit cards / bank accounts for future transactions.

  • Print checks directly from TRUE using custom check printing templates.

  • Automatically track and apply credit memos for both customers and vendors.

  • Connect TRUE to your bank / credit card accounts and automatically download transactions from your banking institution into TRUE.
  • Perform bank reconciliations between TRUE and your bank accounts using automatically downloaded transaction data.
  • Reconcile credit card transactions between your credit card transaction data and the TRUE expense tracking system.

  • Automatically determine sales tax jurisdiction using Avalara AvaTax integration
  • Track taxable / nontaxable sales and use tax on purchases by tax jurisdiction
  • Periodically report total sales / use tax by tax collection entity
  • Sales and Use Tax Reports are also available to non-TRUE Accounting users for an additional fee

  • Filterable financial reports supporting a wide range of filters and summarizations.
  • Generate reports in Interactive mode, PDF, or Excel.
  • Segment reports by company / brand, class, job, or account group.
  • Financial reports include: Trial Balance Summary, Trial Balance Detail, Balance Sheet, Balance Sheet Trend, Profit & Loss Statement, Income Statement, Gross Profit Trend, Profit & Loss Trend, Retained Earnings, Cash Flows, Aged Receivables Summary, Aged Receivables Detail, Aged Payables, Credit Reference Report, Working Capital, Subledger Report

join our TRUE(ly) great subcontractor family also using TRUE Accounting…

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