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AccFlex Construction Software of AccFlex ERP Accounting Software is considered one of the best accounting software that covers the construction companies’ activity fully, AccFlex Construction Software covers all phases of the project, starting from awarding a bid and ending with the final project handover.
Watch the work cycle of Construction Accounting Software
And AccFlex Construction Software performs to linking all modules of AccFlex ERP Accounting Software, through AccFlex Construction Software, you can make payment to any payment certificate of the subcontractor and collect any payment certificate to the owner in addition to that AccFlex Construction Software creates the journal entries automatically without the need to enter the journal entries.
AccFlex Construction Software is distinguished from other accounting software with enough flexibility that makes the possibility of bringing about change in the company and switching from the manual work system as soon as possible.
Importing from Excel
AccFlex Construction Software supports the possibility of importing from Excel, and AccFlex Construction Software can be used to more than one branch and linking all branches to each other into a single database, in addition to that the software is provided to all companies, regardless of their size (large scale, medium-sized, small), as well as a full system for controlling all cash transactions starting from warning messages when an error occurred and alert messages when needed.
Features of AccFlex Construction Software
- Creating a chart of accounts that includes an infinite number of parent accounts and child accounts, with the ability to edit GL accounts and transfer transactions recorded on GL accounts to other GL accounts.
- Creating multiple levels chart of cost centers, assigning GL accounts to cost centers, and the ability to produce multiple reports for cost centers and a separate income statement at the cost centers level.
- The ability to create an infinite number of branches, linking users to specific branches, and produce financial reports and statements at the level of each branch separately and consolidated reports at the level of all branches depending on the currency used of each branch.
- The ability to divide the fiscal year into more than one fiscal and tax period, preparing closing entries and final accounts automatically and producing the various types of tax returns.
- Fully integrated Fixed Asset Module and proper accounting treatment for all transactions, including acquisition, retirement, and depreciation.
- A tight system of internal control by setting the authorizations of each user according to its specialties and tasks.
Linking with other subsystems
AccFlex Construction Software includes a set of other sub-systems that integrated into the system, to cover all sections of the construction organizations, and the sub-systems operate "interfaces" separately, but they are linked to a centralized database, and therefore aggregate can be produced from each sub-system.
Warehouse Transfers Management & Monitor the Raw Materials Costs
This is done directly on projects or issue transactions through which certain raw materials issuing on the project. Thus, the cost of the projects of the raw materials can be monitored with great accuracy.
The Best Construction Accounting Software (AccFlex Construction Software)
AccFlex Construction Software is accounting software related to contract accounts, building, and construction projects, and construction activity, starting from the bid requirements and specifications and ending with the project handover to the owners, AccFlex Construction Software allows you a complete conception of the contractors’ accounts, owners accounts, various tax transactions, and banking transactions.
Explaining AccFlex Construction Software
AccFlex Construction Software works according to the basic accounting principles in the light of the international and Egyptian accounting standards related to contract and construction accounting. AccFlex Constructions Software consists of the following main screens:
If you are looking for accounting software for a construction company that specializes in project management and long-term contracts, the AccFlex ERP Accounting Software Package provides you with a practical solution for projects management through the Project screen, the definition of the project is entered into the system and entered in terms of the project name, its owners, and its managers and so on. The screen also provides the ability to design quotations of items and prices or bids for the project under bid requirements and specifications terms.
Basic Data Screen
Through the Basic Data screen, the system is defined to the owners of projects and subcontractors, as well as deductions and additions that are made to the payment certificates, whether they are owners’ payment certificates or subcontractors’ payment certificates such as deductions for retention, advance payment and so on.
Subcontractors Payment Certificates
Through the Subcontractors Payment Certificates screen, payment certificates for the subcontractors are created against the percentage of completion for the work assigned to them under the terms of the contract, where the subcontractor and the project are selected, and then the payment certificates data is inserted and the system automatically deducts retention, withholding tax and other deduction items previously known to the system. In the end, the payment certificate is translated in the form of a journal entry in General Ledger Software.
Owners Payment Certificates
Through the Owners Payment Certificates screen, payment certificates submitted to the project owner are created with the percentage of completion of the project terms under the contract and the bid requirements and specifications, it is possible to make a payment certificate for each item separately or a grouped payment certificate for a group of items, after inserting the data for the payment certificate, the system automatically deducts retention, withholding tax and other deduction items previously defined to the system, Finally, the payment certificate is translated in the form of a journal entry in General Ledger Software.
AccFlex Construction Software provides a set of analytical reports on the completion of projects and their costs, groups of reports on contractors and their payment certificates, and separate account statements to clarify the position of each contractor.
Internal Control System
AccFlex Construction Software is based on the internal control system through the system of users' authorizations and authorizations to review financial reports related to the activity.
AccFlex Construction Software includes an integrated management and accounting system for all activities and transactions in the construction companies.
Journal Entries Controls
AccFlex Construction Software works as a part of the financial and management system of the enterprise as a whole in a way that is integrated with General Ledger Software, Treasury & Banking Software, and Inventory Management Software, General Ledger Software translates all the transactions that are made to the Construction Software and other modules in the form of journal entries prepared accurately according to the accounting standards and producing financial statements that honestly reflect the financial position and business results of the activity.
Creating Chart of Cost Centers
AccFlex Construction Software allows the user to create a chart for unlimited-levels cost centers, linking expense accounts and revenues related to cost centers "projects" with the ability to specify pre- ratios for the distribution of items of expenses to projects according to the benefit of each project from the expenses.
The system also provides a set of important reports at the level of cost centers where the user can produce reports that clarify the costs of projects from all cost elements in a comprehensive and detailed manner; also, the income statement can be produced at the level of each project separately to determine the feasibility of investment in projects.
Integrated Warehouse System
AccFlex Construction Software integrates with Inventory Management Software, whereby the system allows the user to create raw materials issuing transactions from warehouses, building materials, and finishes directly through issuing transaction at the account of the project or a group of projects, and Inventory Management Software provides full control warehouse movements and issuing and return operations that are made on various projects, and accounting software also provides a set of reports related to the balances of items and the settlement and purchase and sale transactions.
AccFlex Construction Software provides integrated solutions for all accounting treatment starting from the concluded contract agreement with the subcontractor and the creation of payment certificates and ending with the final handover of the project and the preparation of a final certificate for the subcontractor.
AccFlex Construction Software also provides full control of the operations of deductions, advance payments, retention, and letters of guarantee with proper accounting treatment for all journal entries and an integrated set of reports covering all transactions, balances, and the position of subcontractors payment certificates.
Letters of Guarantee and Advance Payments
AccFlex Construction Software allows the user to create letters of guarantee of various types with the accounting treatment for financial transactions related to the creation of letters of guarantee and their bank expenses and the guarantee cover until the purpose of the letter of guarantee is completed and its recovery value or its close in the account of another letter of guarantee, with the possibility of linking the letter of guarantee with the project and item related to it.
AccFlex Construction Software is considered one of the best construction accounting software for real estate and construction projects and construction projects as it helps to link between construction sites and front offices and engineering consulting offices as it is considered the latest construction software because it contains the latest software technology and full accounting flexibility
The software integrates with General Ledger Software, Inventory Management Software, and Treasury & Banking Software in an integrated manner, where all the transactions are translated in the form of journal entries in General Ledger Software.
AccFlex Construction Software consists of a comprehensive set of integrated sub-systems that cover all departments of the organization such as:
General Ledger Software
General Ledger Software specializes structuring the organization's general financial system, starting with creating a chart of accounts consistent with the size and nature of the organization's dealings, as well as creating a hierarchical structure for the organization's chart of cost centers, establishing organization branches and the administrative center and setting budgeting at the project level to producing final accounts and financial statements.
General Ledger Software automatically translates all transactions made on subsystems into journal entries automatically.
Inventory Management Software
Inventory Management Software specializes in coding and creating the organization's warehouses, whether the central warehouses that handle distribution to the projects or the warehouses for each site. Inventory Management Software is also specialized in creating and coding the items in a hierarchical structure, "main and subsidiary items groups".
The software handles the inventory issue movements done on the projects of different organizations. As well as items returned from the project to the warehouses or transferred from warehouse to warehouse.
Treasury & Banking Software
Treasury & Banking Software provides an integrated cycle of payment and collection transactions, whether done base on payment certificates or various accounts in the organization. It also provides an integrated cycle for incoming and outgoing checks and tracking their collection from the bank.
The user can create and configure the organization’s treasuries, in different currencies, for each treasury separately.
Human Resources (HR) Software
It specializes in all aspects related to the manpower within the system, and Human Resources (HR) Software relates to the establishment of the organizational structure of the organization and the division of departments and branches, recording of employees in the organization
And it also creates the organization’s policies such as time and attendance policies, remuneration policies, sanctions, and absences, etc.
AccFlex Construction Software
It relates to detailed project items description in a hierarchical structure, submitting bids, and setting up payment certificates for contractors and owners.
The software handles deduction and addition items that are made on payment certificates of owners and contractors such as retention deduction and advance payments deduction, etc.
To book AccFlex Construction Software, and to find out the best prices for accounting software in Egypt and the Arab world, request for quotation now.
- Accurate description of the projects
The projects description phase is considered one of the most important phases of work on AccFlex constructions software for project management and long-term contracts. The project is described in a detailed description that includes the following basic data:
- Project Name
- Project Number "Code"
- Customer "Project Owner"
- Project Manager and Consultant engineer
- Timeframe for implementation in terms of start and end date
- Project-based organization branch
AccFlex constructions software enables the ability to identify projects in the form of a branch tree, which are main projects branched out of which several subprojects, such as "describing New Administrative Capital of Egypt project as a main project from which several "stages" projects are branched out as branches of the main project, which is useful for producing costs and revenues analytical reports at a specific project level or several consolidated projects.
- Detailed description of projects items
After creating and describing the project on the software, the project items agreement upon in the contract or tender specifications are described as one of the roles of the technical engineers in the organization, and AccFlex ERP system is characterized by the ability to create and enter the project items in the form of a branch tree that includes a set of main and sub-items of the project, and each of the items can be linked the project has a separate account in the chart of accounts or a consolidated account linked to more than cost center.
- Bidding Pricing
It is an optional feature to be used in the case of projects that are contracted after going through the tendering phase, and therefore a detailed price quote can be set for each item of the project, and can also be used in the case of planning for project profits at the level of item by setting the initial and expected cost for each item of project items, as well as the possibility of setting a profit margin for each item separately or setting a selling price for each item, and from here it is possible to predict the profitability of the project in detail and accurately and to produce reports comparing the standard with the planned and identify positive and negative deviations.
- Project deviation determination
After creating the project plan in terms of cost and target profit margin, analytical reports are produced to determine the project deviation in terms of cost, price and profit in detail during work on the project for the speed of taking corrective actions, and reports can be produced in the form of consolidated at the level of more than project.
- Project cost tracking:
By linking the project items to the cost center and consequently the project cost can be tracked and limited by producing the various reports of cost centers, for example, it can review the reports of a cost center general ledger accounts to explain all the items of the cost center sequentially according to the time arrangement of the occurrence, as well as producing a project cost center report with the information of a specific account Such as producing the report of New Administrative Capital of Egypt project cost center from the raw materials costs only.
- Contractors Relationships Management
AccFlex ERP software packages provide the best construction accounting software that specializes in suppliers & contractors relationships management, the subcontractor is defined on the software, starting with contractors coding in the form of "Classifications" tree groups and entering the following detailed data:
First, Basic Data
Including the name and contact details "phone number, email, etc." and the subgroup to which the "contractor" belongs, such as concrete contractors or building works contractors, etc.
Second, Contractor’s Balance
If it has previous dealings with the organization, and AccFlex ERP system provides the ability to add the contractor's balances in the form of a separate group balances to clarify the contracting balance at each of the organization's branches with different maturity dates.
- The most important contractors’ reports
AccFlex ERP system for latest versions accounting software includes an important set of reports to supplier relationships management and transactions, the most important of the following:
- Contractor's statement of account report.
- Contractors’ business insurance balances report.
- Business insurance statement report.
- Contractors' balances report.
- Contractor's payment certificates report.
- Detailed contractor payment certificates report.
Contractor Balances Report
Through the Contractor Balances report, all contractors' balances are displayed at a specific project level or the level of all projects, as well as a detailed statement of the balance (opening balance- during the period- closing balance).
Aged Contractor Balance Report
Through the Aged Contractor Balance Report, you can know all arrears due to the contractor for a period of less than 30 days, between 30 to 60 days, or between 60 to 90 days or more than 90 days, at a specific contractor level or the level of a group of contractors, as well as for a specific project or more than one project.
This clarifies the important items in the contract, such as the deduction items, retention percentage, advance payments, etc., and also shows the data for the addition items such as the business incentive, etc.
Creating a subcontractor contract through AccFlex Construction Software
Through the Contractor Contract screen, you can link any item of the project to a specific contractor and select the quantity that the subcontractor will execute, as well as enter the agreed prices with the contractor, and the software provides a warning message in the case that the price agreed upon in the contractor contract, is greater than the price in the project contract with the owner, can also link more than one of the project items to a specific contractor or more than one contractor, as well as through the contract the down payment amount is determined by the subcontractor and the down payment deduction percentage in the payment certificate.
Entering all deductions and additions of the subcontractor contract through AccFlex Construction Software
Through the Contractor screen, an infinite number of contractors can be created and select the nature of the activity of each contractor (plumbing contractor- plastering contractor- marble contractor ...) as well as linking each contractor to its deductions (Retention- Social Insurance- withholding and collection taxes....) as well as selecting all additions (bonuses- ....), and once the contractor is selected from the Contractor Contract screen, all contractor data and all deductions and additions of the contractor are shown.
Owners and Customers Relationships Management
Owners relationship management in AccFlex ERP system begins with the definition of project owners in a hierarchical structure divided into groups according to the needs of the software users for the information, so customers and owners can be divided in the form of certain segments such as Northern Region segment and customers of Southern Region segment or according to the dealing entities such as dividing customers into customers of the governmental segment, customers of the private segment companies and customers as persons, and hierarchy is useful in the degree of detail to be known in the reports.
The owners’ identification page includes the following detailed information:
First, Customers’ General Data
It includes basic data such as name, address, email, phone number, etc. It also included linking the customer to a specific account in the chart of accounts and linking it to the group to which he belongs.
Second, Contractual Data
The contractual data includes the basic clauses in the contract related to the items of the deduction and addition that the contract includes, such as:
- Retention Deduction.
- Advance Payment Deduction.
- Stamp Duty Deduction.
- Withholding Tax.
And other items of deduction in the payment certificate.
Contractual data include addition items such as business incentives, etc.
All deduction and addition items are defined in a separate phase in creating the main configurations in the software, the item can be linked, whether a deduction or addition item at a different rate to the contractor or owner and linking each item to a separate account in the chart of accounts at the contractor or owner level.
Third, Customer’s Balance
The customer's balance can be added as a group of balances with different maturity dates and at the level of each branch separately.
The most important owners’ management reports
- Detailed Owner's Account Statement Report.
- Retention Account Statement Report.
- Retention Balances Report.
- Owners Balances Report
- Detailed Owners Payment Certificates Report.
- Aggregate Owners Payment Certificates Report.
Entering all deductions and additions of the owner's contract through AccFlex Construction Software
Through the Owners screen, an infinite number of owners can be created and linking to each owner to the deductions that are deducted from the payment certificate, whether they are (Retention- Social Insurance- withholding and collection taxes....) as well as selecting all additions to the payment certificate (bonuses- .....), once the owner is selected from the Projects screen, all owner data, all deductions, and additions are shown.
Owners Balances Report
Through the Owners Balances report, all owners' balances are displayed at a specific project level or the level of all projects, as well as a detailed statement of the balance (opening balance- during the period- closing balance).
Aged Owner Balance Report
Through the Aged Owner Balance Report, you can know all arrears due to the company for a period of less than 30 days, between 30 to 60 days, or between 60 to 90 days or more than 90 days, at a specific owner level or a level more than one owner, as well as for a specific project or more than one project.
Payment Certificates Management
The payment certificate is considered as the invoice presented to the owner or the contractor and is considered the most important means of revenue recognition in the construction companies, payment certificate in AccFlex ERP System
Of accounting software is professionally covering the legal and accounting aspects and the decision-makers' need for information, and the payment certificate generally includes the following data:
- Project Data
- Payment Certificates Items
- Percentage of completion method for each item
- The current value that was executed
- Previous Value
- A total port-to-date
- Deduction Items
- Addition Items
- Net value due payment or collection
Creating the subcontractor payment certificate through AccFlex Construction Software
AccFlex Construction Software provides you the ability to create a subcontractor payment certificate and this is done in the two steps first, that you make an interim certificate to the contractor and once the contractor and the project is selected, if the contractor is linked to more than one project, the subcontractor payment certificate shows to you all the items of the contractor contract, as with the contract and the payment certificate number, its date and description are added.
And AccFlex Construction Software creates a code for the payment certificate as well as the previous quantity of the item and once the current quantity and the percentage of completion is entered, shows you the interim certificate of subcontractor, with all its details, after the interim certificate is approved, the second step is completed, which is the sub-contractor’s payment certificate, and the software automatically creates journal entries in the chart of accounts by subcontractor net dues after deducting all deductions linked to the project, as well as all additions automatically.
Creating a payment certificate to an owner through AccFlex Construction Software
AccFlex Construction Software provides you the ability to create a payment certificate to the owner, and this is done in the two steps first, that you make an interim certificate to the owner and once the project is selected, the owner and all the project items show to you, as with the contract and the payment certificate number, its date and description are added.
And AccFlex Construction Software creates a code for the payment certificate as well as the previous quantity of the item and once the current quantity and the percentage of completion is entered, shows you the owner interim certificate, with all its details, after the interim certificate is approved, the second step is completed, which is the owner’s payment certificate, and the software automatically creates journal entries in the chart of accounts by net dues after deducting all deductions linked to the project, as well as all additions automatically.
Calculate the Retention through AccFlex Construction Software
When creating any payment certificate, whether it is a payment certificate to the subcontractor or a payment certificate to the owner, once you recognized that this payment certificate is a final, an alert message appears to you from the software that this payment certificate will be the last payment certificate for the owner/ contractor, and once you confirm the last payment certificate the software requests the retention due date, then it creates an accrual journal entry in the chart of accounts automatically, once any payment is made, part of the retention is deducted from the due retention balance, and the software does not allow you to make additional payment certificates after the final payment certificates.
Owners Payment Certificates Report
Through the Owners Payment Certificates report, all details of the owner's payment certificate are displayed, by net value, deductions, bonuses, payment certificate number, project, and all details.
Contractors Payment Certificates Report
Through the Contractors Payment Certificates report, all details of the payment certificate are displayed, by net value, deductions, bonuses, payment certificate number, project, and all details.
Retention Balance Report - Contractors
Through the Retention Balance report, is shown for the opening balance of the retention, all the transactions made on the retention, and the balance of contractor's retention at a particular contractor level or a project level.
Retention Balance Report – Owners
Through the Retention Balance report, is shown for the opening balance of the retention, all the transactions made on the retention, and the balance of owner's retention at a particular owner level or a project level.
Creating all Journal Entries for payment certificates automatically
One of the most unique features of AccFlex Construction Software is the creation of all journal entries and transactions automatically, so AccFlex Construction Software creates all the journal entries of the subcontractor's payment certificates, as well as the journal entries of the owner's payment certificates, and the entitlements of all deductions and bonuses automatically without any user intervention, once each subcontractor/ owner is linked to his accounts, the software translating these transactions into journal entries in the chart of accounts automatically.
What is the importance of Accounting Software for Construction Firms?
Construction Accounting is considered as a cost accounting because it calculates the project costs after any tender is made and then pricing studies, for this all, Construction Accounting Software is developed.
What is the Chart of Accounts for a Construction Company?
AccFlex Constructions Software is integrated with the General Ledger Software so that any accounts recorded on the software appear as an account in the chart of accounts in the General Ledger Software to record journal entries on them.
What are the types of payment certificates in AccFlex Constructions Software?
The payment certificates in AccFlex Constructions Software are divided into two types: contractor payment certificate and owner payment certificate.
What are the Journal Entries For Construction Companies?
Once the entire documents cycle of AccFlex Constructions Software is completed, the journal entries are recorded and a journal entries cycle begins.
What is AccFlex Constructions Software Cycle?
AccFlex Constructions Software Cycle is based on the project line items, regardless of the number of these line items in the one project, then the project pricing, and then the consideration of the terms, deductions, and additions to the contractor's contract.
What is the best Construction Accounting Software?
AccFlex Constructions Software is the best accounting software for a construction company and is considered one of the great accounting software for construction project management.
What is the evaluation of AccFlex Constructions Software?
AccFlex Constructions Software covers the construction activity fully starting from awarding a bid until the final project handover; AccFlex Constructions Software makes payments to any subcontractor's payment certificate, collecting any payment certificate of the owner, and in addition to AccFlex Constructions Software automatically creates the journal entries without the need to entering the journal entries.
How Much Does AccFlex Constructions Software Cost?
The prices of AccFlex Constructions Software vary depending on the number of users in the system and the system sub-modules used.