AccountingPlusfactorSQL Accounting has evolved from Plusfactor/32, which in turn evolved from the highly successful Plusfactor Version 4 for DOS, both of which were installed by a large number of construction and other firms throughout NZ. It incorporates the best features of its predecessors, and boasts a range of new features designed to make the Accounting process in your business easier than ever.
The fundamental change is of course that PlusfactorSQL utilises the Microsoft SQL database, replacing the Microsoft Jet/Access database used by Plusfactor/32.
PlusfactorSQL Accounting is designed as a fully integrated accounting system with Job Costing as the pivotal feature of the design. The program handles all of the normal accounting functions of a typical construction-industry or similar business.
The ledgers are all fully integrated and updated in real-time by every posting. There is no batch processing, and every transaction updates right through to the Balance Sheet.
The basic Accounting system comprises:
- Job Cost
- General Ledger
- Cashbook & Bank Reconciliation
- Job Invoicing
- Progress Claims & Debtor Retention Management
- Self Billing & Creditor Retention Management (Subcontractor Claims)
Extra cost options are:
- Divisional Accounting
- Barcode reading of Stock Transfers
- Interface to Time Clocks
All the idiosyncrasies of the construction industry are catered for. There is fully automatic processing of Retentions for both Debtors (via the Progress Claims routine) and Creditors (via the Self-Billing routine), with partial releases and write-offs also catered for. Withholding Tax (PPS Tax in Australia) is also processed automatically where appropriate e.g. for Labour-only GST Registered Subcontractors who do not have an exemption certificate from the Inland Revenue (Australian Tax Office).
The system will print cheques if required, and also handles electronic payments via the various Trading Banks' systems. Unlimited Bank Accounts are maintained, and there is a very user-friendly Bank Reconciliation system built in.
Goods & Services Tax.
GST is computed on both the Invoice Basis and the Payments basis, with the appropriate calculations for the Hybrid basis also available. The system prepares the appropriate GST 101 Report, and provides fully detailed Audit Trails of all transactions involving GST. A GST Audit is a breeze!
Plusfactor Solutions Ltd has carefully studied the Australian requirements for GST reporting, and the Australian Version of Plusfactor contains the necessary reporting structure to suit the Australian Tax Office. The system produces the calculation sheet for the Business Activity Statement (BAS)
Basic information such as Debtor, Creditor, General Ledger, and Employee records can also be imported from many other Accounting programs - there may be some small cost associated with this.