Construction Accounting for Subcontractors

What is TRUE Accounting?

Our cloud-based construction accounting program is built to simplify and automate accounting for subcontractors. TRUE has a suite of accounting features: accounts payable and receivable, general ledger and financial statements, invoicing and billing (including AIA billing), change order management, retainage tracking, and sales & use tax management, just to name a few. Job cost tracking is automated, so you get a real-time view of your labor and material costs for each project. Save time and money by automating your accounting with TRUE.

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Construction Financial Management Association

Proud Member of the Construction Financial Management Association

Streamline with TRUE Accounting

With TRUE Accounting, you can effortlessly sync data from your operations. One click applies job costing and updates your accounts automatically. As a result, you get clear project reports and simplified accounting tasks.

TRUE Accounting Over/Under Billing Report

Enhance Efficiency

TRUE Accounting offers a unique General Journal with separate Unposted and Posted Journals, clearly distinguishing your entries. Team members can easily create journal entries from source documents and post them with just a click. This setup streamlines the process, boosting efficiency and clarity in your construction accounting.

Bank and Transactions

Easily reconcile your bank and credit card accounts with TRUE Accounting’s Reconciliation Modules. In addition, you can print checks and create Deposit Tickets for bill payments and receipts. As a result, this integration streamlines your daily business processes, making your accounting operations more efficient and seamless.

TRUE Accounting Bank and Transactions
TRUE Accounting Payroll Integrations

Payroll Integrations

TRUE Accounting integrates with major payroll providers and features a time clock that lets team members punch in and allocate time to specific projects. Furthermore, this functionality processes time data for payroll and job costing within a single module. As a result, the integration simplifies payroll management and enhances project cost tracking, making your construction accounting more efficient and accurate.

Taxes

Easily run Sales and Use Tax reports for single or multi-tiered tax jurisdictions with TRUE Accounting. By doing so, the system handles the complexity of compiling your taxable expenditures, enabling accurate reporting to State, City, or County tax authorities. As a result, this streamlined process simplifies tax reporting and ensures compliance with various tax regulations.

TRUE Accounting Taxes
TRUE Accounting Reports

Reports

With TRUE Accounting, preparing financial statements through interactive reports offers limitless performance measurement capabilities. Furthermore, this feature facilitates comprehensive financial analysis and generates the documents needed for Bank, Bonding, or CPA Reviewed Financial Statements, ensuring thorough and accurate reporting for all stakeholders.

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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 software family, and start using TRUE Accounting to experience the difference!

Get started with TRUE today

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