Accounting Software for Home Builders

Deploying accounting software is not only limited to retail or manufacturing companies, home builders or real estate developers can also tap from the numerous benefit of automating their accounting systems.

Let’s see what typical accounting software will do for home building and real estate developer:

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For over 5 years, we have implemented QuickBooks for several companies under Retail, Manufacturing, Oil & Gas, Real Estate & Construction, Travels, Hospitality,Legal, Co-operatives, NGOs, Financial & Service Sectors.
  • Mbaire Services Nigeria Ltd(Construction)
  • Chisco Transport Limited(Transport)
  • Lounge38(Hotel and Bars)
  • CTRL System Technologies Limited(Procurements)
  • Aristokrat 360 Limited(Creative & Media Agency)
  • Alpha Pharmacy (Health Care & Supermarket)
  • Ericsson Nigeria Multipurpose Co-operative Society (Co-operatives)
  • Fastanet Limited (ICT and Security)
  • Britanic Maritime (Maritime Service)
  • CEO Business Limited (Salary Advance, Credit Finance and Loan)
  • OneHealth Pharmacy (Health Care)
  • Olpharm Pharmacy (Health Care & Distributor)
  • Hawkes Legal(Legal)
  • Kantessa Limited(Fashion Store)
  • OPI Nigeria International Limited (Oil & Gas Servicing)
  • Zenilum Company Limited (Oil & Gas Servicing)
  • Lilygate Hotel(Hospitality)
  • Benstel Nigeria Limited(Bottle Water Production & Distribution)
  • Paraclete Nigeria Limited (Bottle Water Production & Distribution)
  • Josien Holdings Limited(Distribution)
  • Aisha Buhari Foundation (Futured Assured)(NGO)
  • Doheney HR Services(HR)
  • Insights Limited(Health Consultant)
  • Biddel Oil & Gas Limited (Oil & Gas)
  • System Intelligenz Limited(Contractor)
  • MagTech Information Security (IT)
  • Infusion Cakes Nigeria (Bakery)
  • Landmark Centre (Event Centre)
  • M.D School (Private School)
  • Travel Options (Travels)
  • Logos Travel Support & Solutions Ltd (Travels)
  • Germaine Auto Centre (Autos)
  • Starlight Nigeria (Retail)
  • Temple Private School (Education)
  • Value Mart Supermarket (Retail)
  • Transweb Bureau De Change (Financial Service)
  • Vektro Food Limited (Manufacturing & Retails)
  • Orient Petroleum PLC (Oil & Gas)
  • Plus More

Job Costing

Using an accounting software will help your track all the expenses incurred on a project or contract accurately as you can create a job task and description specific to a project and have all materials used and income earned reported on a real-time.

You will also be able to track all profit or loss figures so that If the profit figures are not as high as they should be, this will help you adjust future bids for jobs so that they can be more profitable. It also allows you to see if you bid the appropriate amount of materials for the job.

Completed Contracts

When building several homes at once, it can be helpful to use a completed contracts method when looking at the overall profitability of your company. When looking at profit and loss statements, you have the option of looking for jobs by job type. If a job falls into the category of a “Current Contract,” it is still in progress. If a job is considered a “Completed Contract,” it is a finished job. By looking at the completed contracts together, it helps you gauge the overall profit margin of your business.

Financial Report

Aside from the specific features mentioned, you can also track general business transactions as highlighted below:

  • Overall Company’s Income
  • Overall Company’s Expenses
  • Bank Transactions and Reconciliation
  • Account Receivables and Payable Balance Report
  • Profit or Loss Account
  • Statement of Financial Position
  • Statement of Cash flow

Read More: Accounting Software For Real Estate Managers

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