Sage Intacct for Construction: A Blueprint for Success

You may already know that Sage Intacct is one of the leading cloud-based financial management solutions on the market. But did you know that Sage also has 50-plus years of experience building construction financial management and enterprise resource planning (ERP) software? Fast forward to Sage Intacct Construction, a robust, cloud-based financial and project accounting solution meeting the complex demands of construction accounting.

What is Sage Intacct Construction

For decades, Sage 300 Construction and Real Estate (formerly Sage Timberline) has been the premier construction accounting software in the world, relied on by more than 50,000 companies in the construction industry and real estate developers. In mid-2020, Sage brought the functionality within Sage 300 CRE to Sage Intacct, launching Sage Intacct Construction. 

Here, we look at the key job costing and project accounting financial management benefits Sage Intacct Construction delivers. 

Check out this feature-by-feature comparison chart to see the advantages of moving from QuickBooks to Sage Intacct Construction

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Native Cloud for Anytime, Anywhere Access

Sage Intacct is a native cloud solution. Users can access it from anywhere, anytime, and on any device. In addition to streamlined access, cloud solutions reduce your organization’s IT burden because the hosting, updates, and maintenance are provided by Sage. As a result, you’ll always be running the latest version of the software without interruption to your operations.

Multi-Entity Consolidation for a Faster Close

Sage Intacct supports multiple entities, not just multiple divisions, to provide robust support for growing companies in the construction industry with different locations or business units. This structure allows users to dramatically speed up monthly consolidations. Sage Intacct clients often report that they’ve reduced consolidation time from hours to minutes.

Multi-Dimensional Reporting for Better Insights

One of the strengths of Sage Intacct Construction is multi-dimensional financial reporting. Dimensions enable you to create targeted reports without having to export and massage financial data in spreadsheets. In addition, dimensions allow you to review the business from multiple angles—such as region, project, department, or many other perspectives.

Accurate Cost Tracking to Improve Profitability

Industry statistics suggest that 75% of construction projects exceed their initial budgets. The reasons are varied, but poor cost control is a significant factor. Sage Intacct Construction accounting software provides the necessary tools to monitor project cost accurately, track expenses, and compare actual costs against budgeted amounts. This visibility lets you identify cost overruns early and promptly take corrective actions, ultimately improving project profitability.

Simplify Complex Project Billing

Construction projects often involve multiple billing methods, such as progress billing, milestone-based billing, and time and materials billing. Managing these billing methods using manual data entry can be challenging, leading to errors, delays, and disputes. Sage Intacct Construction simplifies and automates the billing process, allowing you to generate accurate invoices based on project milestones, work completed, or specific billing terms. As a result, it ensures timely and accurate billing that improves cash flow and reduces billing disputes.

Project Profitability Analyzes Project Cost and Revenues

Management teams must understand project profitability to make informed decisions and assess the success of projects. Project accounting software tools like Sage Intacct Construction provide project financial management tools for analyzing project cost, revenues, and profitability in real time. It allows you to compare actual costs against budgets, track profit margins, and identify areas where you may be able to improve profitability. You can use this insight to help adjust project plans, pricing strategies, and resource allocation for future projects.

Robust Project Management for Multiple Stakeholders

Construction projects involve multiple stakeholders, general contractors, subcontractors, and changing project scope. Managing project-related documents, contracts, change orders, and communication can become overwhelming without proper systems in place. Sage Intacct Construction provides a robust project management toolset, enabling seamless collaboration, document management, change order tracking, and effective communication among your project teams. 

Streamlined Compliance and Reporting

Construction companies must comply with various regulatory and industry-specific requirements, including certified payroll reporting, tax obligations, and financial reporting standards. Sage Intacct Construction can automate portions of the compliance processes by providing the data infrastructure and reporting tools to demonstrate your adherence to legal and financial regulations. It can also help your construction company stay compliant, reduce the risk of penalties, and gain a clear audit trail of financial transactions.

Efficiences Free Up Time for Strategic Activities

Cloud-based construction accounting software streamlines many time-consuming manual processes, freeing valuable resources and enabling your teams to focus on core project activities. Automated features for tasks like accounts receivable and accounts payable processing and bank reconciliation help eliminate errors and reduce administrative burdens. By automating routine tasks, you can redirect your teams’ efforts toward business strategy related initiatives and project execution.

Real-Time Project Visibility

One of the key advantages of Sage Intacct Construction software is its ability to provide real-time project visibility for home builders and other construction companies. With Sage Intacct, you can track project costs, monitor budgets, and analyze financial data in graphical, real-time dashboards and reports. This visibility informs your decision-making by identifying potential issues early, allowing you to take corrective actions promptly. 

Integration with Estimating and Payroll 

Sage Intacct Construction seamlessly integrates with other business systems, such as Sage Estimating and Sage Intacct for Construction Payroll. This integration ensures smooth data flow between departments, eliminates duplicate data entry, and facilitates team collaboration. In addition, you can check out our Sage integrated add on solutions, where you’ll find compatible third-party solutions with best-in-class functionality.

A Solid Foundation for Profitability and Growth

Sage Intacct Construction is built on a solid foundation that combines Sage’s core strengths. Accountants trust Sage Intacct construction financial management to support agility and growth. In fact, it is the first and only AICPA-preferred accounting solution. In addition, construction companies consider Sage the number-one provider of construction finance management software (based on JBKnowledge Construction Technology Reports). Combining these two strengths creates a structure capable of supporting your business for years to come. 

Are you interested in learning more about Sage Intacct Construction? Reach out to our team—we’re happy to help!