You should start tracking the cost of COVID

Anterra provides Business Intelligence and reporting for Construction and Real Estate companies.  We are helping our clients determine the best practice to track the cost of the COVID outbreak.  There are several reasons you want to isolate these costs (no pun intended).

  1. If there is a government relief program you can identify costs and get your application in early
  2. You are ready for an audit if you get program money
  3. You can report on your net income excluding the direct costs, then show COVID costs as an adjustment to net income for your board / bank / owners
  4. You can measure the cost impact objectively, the revenue and gross margin impacts are more subjective

Methods to track COVID Costs:

  1. Set up a COVID job in Job Cost. You can set up one-time cost codes for
    1. Management time
    2. Meeting time
    3. Turn away time – record staff time that are unable to work on a job site due to closure or if a service technician goes to inspect / repair a customer location and it is closed
    4. COVID Idle time – staff unable to work
    5. Doctor / hospital appointments
    6. COVID testing time
    7. Paid sick time
    8. Protective gear
    9. Facility cleaning
    10. Facility cleaning supplies
    11. Other COVID Costs
  2. Set up GL Accounts for COVID Expenses

GL accounts can be used for direct and indirect costs associated with the virus and lockdown

  1. Salary Idle time (if not job costed in 1d above)
  2. Office / warehouse rent for idle facilities
  3. Health insurance costs for furloughed employees
  4. Other benefit costs

Please let us know if we can help you with improved reporting, we will continue to send out best practice updates based on what we are seeing in our broad base of customers.

We wish you and your family continued good health and success.

Regards,

Bruce Vanderzyde, CPA, CA
President
Direct (832) 342 1575
moc.h1586268308cetar1586268308retna1586268308@edyz1586268308redna1586268308vb1586268308
www.anterratech.com

See our AR Collection Management Tool at https://anterratech.com/arcollectionmgmt

Anterra releases a new Job Forecasting Hub

In another move to help clients with their day to day business, Anterra has released a Job Forecasting Module to help project managers.  Project Managers of any size company can take advantage of this easy to use tool. 

If you would like a demo please contact us here or check out our webinar schedule here where Job Forecasting is one of our featured topics.

By |October 10th, 2019|Uncategorized|0 Comments

Anterra releases a new way to manage collecting Accounts Receivable

After multiple requests from clients Anterra has developed an AR Collections Management System

The team spent last week talking to the Viewpoint – Collaborate conference attendees about the new release and the early returns are looking great.  

If you would like a demo please contact us here or check out our webinar schedule here where AR Collections is one of our featured topics.

 

By |October 4th, 2019|Uncategorized|0 Comments

Anterra releases Job Forecasting Software

Anterra’s has released Job Forecasting allowing project managers to enter forecasts to complete or forecast at complete. Users can build their own forecast entry grids to include information that will help them determine their final cost. Forecasts can be entered with notes and instantly update job profitability and WIP reports.

Click on this image to see a video on how job forecasting works in Anterra

 

 

 

 

 

 

 

 

 

 

Here’s an example of a grid for forecasting labor – in addition to Revised Estimate, MTD and JTD Cost the grid shows JTD Hours, JTD Labor Cost, % Labor Cost Complete and % Hours Expended with the ability to drill to labor hour detail

A Subcontract Forecast view shows JTD Committed, Remaining to Commit% and Total Invoiced + Open POs with the ability to drill to commitment detail

Forecasts can be entered at whatever level of detail you like, from a single number to a detailed build of of line items

Anterra offers the most powerful forecasting software available for the construction industry.

For more information, call us at (832) 539 1400 and press 1 for information or fill out our contact us form form for more information.

Anterra releases Financial Ratio /Covenant Management

Anterra’s latest version includes an exciting new feature – financial ratio management. You can now build a financial ratio graph with any financial ratio and its covenant to see your performance over time. When you click on a graph you drill down to the calculation components, drilling on any component takes you to the underlying transactions.

Click on this image to see a 2 minute video on how financial ratios work in Anterra

 

 

For more information, call us at (832) 539 1400 and press 1 for information or fill out our contact us form form for more information.

AGC Says Tariffs Could Slow Construction Spending

The following is a news story pulled from industry sources from around the web.

According to the Association of General Contractors of America, construction spending in January was unchanged from December and was moderately higher than in January 2017. However, association officials said in a press release that further gains, especially in desperately needed infrastructure investment, would be in jeopardy if the administration adopts tariffs on key construction materials.

By |March 22nd, 2018|Uncategorized|0 Comments

JLL: Continued Low-Yield Environment Driving Renewed Investor Creativity

The following is a news story pulled from industry sources from around the web.

The U.S. economy remained fundamentally sound heading into 2018, notwithstanding recent stock market volatility. Transaction volumes for 2017 reached nearly $400 billion, a 9 percent softening from 2016 driven largely by fewer large deals in gateway markets, according to JLL’s H2 2017 U.S. Investment Outlook. ​

By |March 22nd, 2018|Uncategorized|0 Comments