software consulting, custom reporting, financial resources

Articles:

Credit Card Transactions

Entering Fixed Assets as Journal Entries

Estimating

Estimating-At-A-Glance

Estimating, Project Management Overview

Paying Liabilities and Transfers Between Accounts

Payroll Overview

Profitability

Proposals

Profits - Strategies to Improve

Responsibility As A Motivator

Risk Management

Schedule Variance

Take Your Business to the Next Level

Teamwork As A Motivator

Time Management

Time Management Matrix

Timetable of Procedures

The Balance Sheet, Part 1

The Balance Sheet, Part 2

The Balance Sheet, Part 3

The Balance Sheet, Part 4

Training Saves Money

Value As A Motivator

Year-end Close

Timetable of Procedures

Daily Routines in Master Builder:

Customize your list of daily accounting tasks to fit your company’s specific needs.

To perform daily accounting tasks:

1. Handle and sort the daily mail and code source documents as necessary.
2. Perform the following General Ledger tasks:
a. In the 1-1 Checks/Bank Charges window, post handwritten field checks.
b. In the 1-2 Deposits/Interest window, post non job-related deposits.
c. In the 1-4 Recurring Journal Transactions window, post recurring journal transactions.
3. Perform the following Accounts Receivable tasks:
a. In the 3-2 Receivable Invoices/Credits window, prepare contract invoices and credits.
• File copies awaiting payment.
b. In the 3-3 Cash Receipts window, deposit and post the cash receipts.
• Indicate the job and invoice number on the deposit slip.
c. In the 3-11 Recurring Receivables window, post recurring receivables.
4. Perform the following Service Receivables tasks:
a. In the 11-2 Work Orders/Invoices/Credits window, enter work orders and requests for quotes, including new client information.
b. In the 11-2 Work Orders/Invoices/Credits window, schedule the work orders.
c. In the 11-2 Work Orders/Invoices/Credits window, prepare the service invoices and credits.
i. In the 11-2 Work Orders/Invoices/Credits window, post work orders.
ii. File the copies awaiting payment.
d. In the 3-3 Cash Receipts window, deposit and post the cash receipts.
• Indicate the client and invoice number on the deposit slip.

5. Perform the following Accounts Payable tasks:
a. Stamp and code invoices with vendor, general ledger account, job, and cost code numbers.
b. In the 4-2 Payable Invoices/Credits window, post the invoices and credits.
• Assign status 2-Review if sending to the owner or project supervisor for approval.
c. In the 4-2 Payable Invoices/Credits window, review the entries with a batch report.
d. Make duplicate invoices required for time and materials projects and fixed-asset tax information.
e. File copies awaiting payment.
f. In the 4-6 Recurring Payables window, post recurring payables.
6. Perform the following Daily Payroll tasks:
a. In the 5-5-1 Daily Payroll Entry window, enter daily payroll timecards for labor and equipment use.
b. Print and review the following reports:
• 5-5-2 Daily Job Report
• 5-5-3 Labor Report
• 5-5-4 Equipment Report
c. In the company calendar, enter the sick and vacation days for employees for whom you are not paying for the time off (F2).
7. Make a daily backup of the company data.

Weekly Routines in Master Builder:

Customize your list of weekly accounting tasks to fit your company’s specific needs.

To perform weekly accounting tasks:

1. Perform the following Accounts Payable tasks:
a. In the 4-3 Vendor Payments window, select the invoices for payment.
b. In the 4-3 Vendor Payments window, verify the selected invoices by doing the following:
i. Review the vendor totals.
ii. Print and review the Set to Pay report.
c. In the 4-3 Vendor Payments window, print the Lien Waivers.
d. In the 4-3 Vendor Payments window, prepare the vendor payments by doing the following:
i. Print payment vouchers.
ii. Print the check report.
iii. Print vendor checks.
e. File copies of vouchers and checks with the original invoices being paid in vendor files.
2. Perform the following Payroll tasks:
a. In the 5-2-1 Employees window, enter new employees and modify existing employee information as needed.
b. In the 5-5-1 Daily Payroll window, process the daily payroll.
c. In the 5-2-2 Payroll Records window, enter weekly timecards.
d. In the 5-2-3 Compute Payroll window, trial-compute the payroll records.
e. Verify the records by doing the following:
i. In the 5-2-8 Timecard Journal window, print the 21-Timecard Journal report.
ii. Submit the report to the owner or project supervisor for approval.
iii. In the 5-1-2 Payroll Check Register window, print the payroll check register and review the calculations.
f. In the 5-2-2 Payroll Records window, enter the corrections to timecards or calculations.
g. In the 5-2-3 Compute Payroll window, final-compute the payroll records.
h. In the 5-2-4 Payroll Checks window, print payroll checks.
i. In the 5-2-7 Compensation Slips window, print compensation slips for prevailing-wage projects.
j. In the 5-1-2 Payroll Check Register window, print the payroll check register.
k. In the 5-2-6 Post Payroll to GL window, post the payroll to the general ledger.
l. If your company makes weekly tax deposits, prepare the 941 and state tax deposit payments by doing the following:
i. In the 5-4-1 941 Quarterly Report window, calculate the 941 tax liability.
ii. In the 5-1-4 State Tax Report window, print the state tax report.
iii. In the 1-1 Checks/Bank Charges window, enter and print the check.
iv. If applicable, in the 1-3 Journal Transactions window, enter a general ledger transaction for telephone/automatic payments.
v. In the 5-1-6 Certified Payroll Report window, print certified payroll reports.
3. Perform the following Accounts Receivable tasks:
a. In the 3-10-2 Compute T&M Invoices window, compute the time and materials billing.
b. In the 3-10-1 T&M Billing Setup window, set up new time and materials jobs.
c. In the 3-10-5 T&M Wage Rates and 3-10-6 T&M Equipment Rates windows, assign the wage and equipment rate tables as applicable.
d. In the 3-10-3 Print T&M Invoices window, print the time and materials invoices.
e. In the 3-10-4 Post T&M Invoices window, post the time and materials invoices to the general ledger.
4. In the 8-5 Equipment Payments window, prepare the equipment payments.
5. Make a weekly backup of company data.

Monthly Routines in Master Builder:

Customize your list of monthly accounting tasks to fit your company’s specific needs.

To perform monthly accounting tasks:

1. Perform the following General Ledger tasks:
a. In the 1-1 Checks/Bank Charges window, post service charges from the bank statement.
b. In the 1-2 Deposits/Interest window, post interest earned on bank accounts.
c. Reconcile checks by doing the following:
i. In the 1-5 Bank Reconciliation window, print the preliminary check reconciliation report.
ii. In the 1-5 Bank Reconciliation window, print the final check reconciliation report and file it with the bank statement.
iii. Manually reconcile petty cash.
d. In the 1-3 Journal Transactions window, post journal transactions to adjust the general ledger.
i. In the 6-1-7 Over/Under Billing Report window, make any applicable billing adjustments.
ii. Enter fixed assets depreciation.
e. In the 1-6 Audit/Close Books window, close the books.
i. Make a monthly backup of company data.
ii. Try to repair any errors that may exist.
iii. If errors persist, call technical support.
2. Generate the following accounting reports:
a. In the 2-2 Balance Sheet window, print and review the Balance Sheet.
b. In the 2-3 Income Statement window, print and review the 31-Income statement - Period and YTD report.
3. Perform the following Accounts Receivable tasks:
a. In the 3-7 Progress Billing window, prepare and update the progress billing. Then, submit the invoices for approval.
b. After approval, in the 3-7 Progress Billing window, post the invoices to the general ledger.
c. In the 3-8 Loan Draw Requests window, prepare and update the loan draw requests.
d. In the 3-9 Unitary Billing window, prepare and update the unitary billing. Then, submit the invoices for approval.
e. After approval, in the 3-9 Unitary Billing window, post the invoices to the general ledger.
f. Prepare statements by doing the following:
i. In the 3-4 Statements window, print statements without finance charges.
ii. In the 3-4 Statements window, print statements that include finance charges.
g. In the 3-5 Jobs (Accounts Receivable) window, change the job status for completed jobs.
h. Perform the following collections tasks:
i. In the 3-1-3 Receivable Aging window, print and review aging reports.
ii. In the 3-1-5 Receivable Call Sheet window, print the receivable call sheet.
iii. Contact any overdue accounts to request payment.
iv. In the 3-1-9 Overdue Receivable Reminder window, print overdue receivable reminders.
4. Perform the following Service Receivables tasks:
a. Prepare statements by doing the following:
i. In the 3-4 Statements window, print statements without finance charges.
ii. In the 3-4 Statements window, print statements that include finance charges.
b. Perform the following collections tasks:
i. In the 11-1-3 Service Aging window, print and review aging reports.
ii. In the 11-1-5 Service Call Sheet window, print the service receivable aged call sheet.
iii. Contact any overdue accounts to request payment.
iv. In the 11-1-11 Overdue Service Reminder window, print overdue service receivable reminders.
5. Perform the following Accounts Payable tasks:
a. In the 4-1-3 Payable Aging window, print and review aging reports.
b. In the 4-1-1 Vendor List window, print and review the 41-Vendor Insurance report to determine which vendors have expired insurance.
c. If applicable, in the 4-1-6 Vendor Documents window, print and mail notification letters for expired insurance.
6. Perform the following Payroll tasks:
a. If your company makes monthly tax deposits, prepare the 941 and state tax deposit payments by doing the following:
i. In the 5-1-4 State Tax Report window, print the state tax report.
ii. In the 5-4-1 941 Quarterly Report window, calculate the 941 tax liability.
iii. If applicable, manually update line 14-Total deposits for quarter.
iv. In the 1-1 Checks/Bank Charges window, enter and print the check.
v. If applicable, in the 1-3 Journal Transactions window, enter a general ledger transaction for telephone/automatic payments.
b. In the 5-1-5 Workers Comp Report window, print the applicable Workers’ Compensation report.
c. In the 5-1-7 Union Reports window, print union reports.
7. Perform the following project management tasks:
a. In the 6-8-1 Cost to Complete window, prepare the Cost to Complete report.
b. If applicable, in the 6-4-1 Change Orders window, adjust job budgets via change orders.
c. In the 6-1-7 Over/Under Billing Report window, print the over/under billing report for open jobs.
d. In the 6-1-8 Bonding Report window, print the bonding report.
8. In the 8-6 Equipment Depreciation window, post the equipment depreciation.
9. Make a monthly backup of company data.

Quarterly Routines in Master Builder:

Customize your list of quarterly accounting tasks to fit your company’s specific needs.

To perform quarterly accounting tasks:

1. Perform the following Payroll tasks:
a. In the 5-4-4 Payroll Audit window, run a payroll audit.
b. If errors exist, do the following:
i. Back up your data.
ii. In the 5-4-4 Payroll Audit window, repair the balances.
c. In the 5-4-4 Payroll Audit window, print the audit report. If errors still exist, call technical support.
d. In the 5-4-1 Federal Quarterly (941) window, print and prepare the 941 report.
e. In the 5-4-2 State Quarterly window, print and prepare the State Unemployment report.
f. In the 5-1-3 Federal Tax Report window, print the Federal tax reports.
• Prepare the 940 Federal Unemployment deposit.
g. In the 5-1-4 State Tax Report window, print the State tax reports.
• Prepare the required state reports.
h. In the 5-1-8 Hours Report window, print the quarter-to-date earnings report.
i. In the 2-2 Balance Sheet window, review and reconcile payroll tax liability.
j. In the 1-3 Journal Transactions window, post adjusting journal transactions.