Keep Construction Equipment on Track
By Eric Goldstein, Construction Executive
Construction firms have plenty to manage each day to keep business moving forward. Effectively managing labor and material is an important aspect, but one area often overlooked is the equipment used. Construction firms each spend billions on equipment for their employees to use for jobs. To ensure that they are getting the most out of their investment, it is important to track and maintain equipment. Construction accounting software over the years has been able to help contractors efficiently track all equipment used, saving both time and money.
KEEP TRACK OF EQUIPMENT
Just like inventory, construction accounting software can be used to track all equipment used on jobs. Rather than having to rely on a paper process or word of mouth, contractors can stay on top of their equipment and always know where it is. For example, a contractor could be working on a job and needs a particular piece of equipment. Instead of having to track down the equipment, an employee types in the equipment name and instantly sees where it is located. When a new job is entered into the system, equipment is added along with labor and material.
STAY ON TOP OF EQUIPMENT MAINTENANCE
Construction accounting software can also track equipment maintenance and set up reminders for maintenance, so the user and office always know when a piece of equipment needs maintenance. Users can also keep of list of parts used for repairs on that piece of equipment so when equipment breaks down, the users will instantly know which parts to order.
TRACK EQUIPMENT COSTS
Like any item used on a construction job, there is a cost. The same goes for equipment. Construction accounting software can track all costs associated with a piece of equipment. These costs are integrated into the job cost to get an accurate look at how a job is progressing. All the contractor has to do is when initially entering in the equipment is to note the cost associated with it. Any additional costs, such as repairs, can be added at any point.
Construction accounting software integrates all important aspects of managing a job into one system, including equipment tracking. Not effectively tracking and managing equipment can lead to cost overruns and lost time. The beauty of it all is the equipment tracking is usually included in any construction accounting solution – so take advantage of it.