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RECOGNIZE
Ensure accurate reporting for long-term contracts
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Automate the preparation of IFRS financial statements
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Recognize revenue accurately based on project milestones or percentage completion
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Track work-in-progress costs and obligations, ensuring compliance with IFRS standards
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ALLOCATE
Streamline project cost allocation
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Record and categorize expenses according to predefined budgets
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Accurately distribute costs for labor, materials, and overhead across projects or departments
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Report and analyze project costs by category or department to optimize expenditures
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MANAGE
Optimize fixed assets accounting
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Track all fixed assets with detailed records, including categories, acquisition costs, and values
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Calculate and update depreciation based on asset type and lifespan to ensure accurate financial reporting
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Schedule maintenance and manage asset sales or write-offs to optimize asset usage and value
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STREAMLINE
Simplify complex financial processes
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Automate transactions and maintain precise records for all financial activities
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Generate comprehensive reports to monitor expenses, revenue, and profitability
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Link accounting data to project costing, procurement, and financial management modules for consistency
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Integrate multi-currency and multi-company accounting to manage international operations with ease
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Achieve your goals with these features
Here are FirstBit ERP tools and reports to enable better management of construction projects.Explore FirstBit ERP solutions for construction accounting
Frequently asked questions
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What is construction accounting software?
What reports can I generate with the FirstBit accounting module?
Can FirstBit ERP send statements of account to our clients automatically?
What data can be transferred from our previous software to the FirstBit ERP system?
Do we need to update foreign currency rates manually in FirstBit ERP?
How many companies can we create and manage in FirstBit ERP?
Don't find an answer? Meet our expert to get a detailed quote.
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See FirstBit ERP solutions in action
Discover how our system solves the unique challenges of contractors in a personalized demo.
After the demo you will get a quotation for your company.
After the demo you will get a quotation for your company.