A Solid Foundation
Projects run on numbers, so accounting is fundamental to any construction business working to make a profit. Spectrum was designed with accounting as the heart of a fully integrated system where transaction numbers flow across all functions, updating all relevant tables and reports. This provides timely, accurate financial and operational data so all Spectrum users share the same current information.
The Power of One
Spectrum is a single-point-of-entry system. Data is entered in one place for any transaction or record, and flows throughout Spectrum to exactly where it is needed. No double entry, no redundant updating of separate modules. Spectrum offers dozens of new features to make managing the numbers simpler, faster, and easier. For example, paying invoices by credit card is no problem, and credit card processing allows sub-accounts for reconciliation.
Saving Steps and Time
Spectrum’s Job Cost module enables complete work-in-process calculations and reporting. Cost-to-complete projections are built-in and easy to use, so project managers can easily monitor and revise this critical data. With Document Imaging built-in throughout Spectrum’s accounting functions, manual filing and re-filing of accounting records is eliminated. Transaction records are instantly available to view, print and e-mail, keeping you moving without interruption.
Flexible and Powerful
Spectrum’s Payroll module is designed to meet the unique requirements of the construction industry with complete security and confidentiality. Within a pay period, Spectrum can handle multiple pay rates across multiple state and local tax jurisdictions, as well as process multiple fringe benefit schemes. Spectrum’s Payroll tracks the direct cost of labor, and calculates all employer taxes, fringe benefits and the allocation of other overhead. The Time Card Entry screen allows unlimited distributions to work orders and jobs, with multiple pay rates per employee. The Payroll system also manages garnishments, 401(k) benefits, cafeteria plans, and employee purchases. Payroll reporting provides a detailed history of all transactions and includes quarterly tax reports, certified reports, and EEOC reports. Union employers will find powerful capabilities for pay rates, union fringe benefits, vacation calculation and union reporting.