Blog Post

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.h1586268258cetar1586268258retna1586268258@edyz1586268258redna1586268258vb1586268258
www.anterratech.com

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

Anterra wants to support you during the COVID quarantine with free remote users

To our valued clients:

As the COVID-19 situation changes, Anterra is identifying what we can do to help your business.

We understand that our clients are transitioning staff to work at home instead of coming into the office. Many customers’ IT infrastructure is not licensed or set up to handle many remote users.

We want to help. For the next 60 days you can add Anterra users at no cost to give them access to your financial, construction, service, real estate and Procore reporting.

Our BI software is accessible securely in any browser from any location. It may be useful to implement our AR Collections functionality during the COVID crisis to track your customers’ planned payment timing by invoice for construction and service invoices. It is included in your Construction and Financial BI modules. Please fill in the form at the link below to add individual users. Please call us if you have questions.

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

Click here to add a new user

Regards,

Bruce R. Vanderzyde  CPA, CA

President

Direct: (832) 342-1575

moc.h1586268258cetar1586268258retna1586268258@edyz1586268258redna1586268258vb1586268258

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.

Anterra Construction Client Success Story – Georgiou Group

Georgiou Group is one of Australia’s largest construction companies.  With over 1,000 employees across 4 offices Georgiou is a diverse construction company building roads, bridges, commercial buildings, marine works and land development.

Anterra has provided Georgiou with proactive reports that immediately identify project issues.  The time savings from getting the finance team out of spreadsheets has been invested in project analysis.  The help the finance team has provided project management has broken down the wall between the two teams who now work more closely together.

“We trained our staff ourselves which led to greater adoption. Our staff was immediately more productive and informed.” Chris Laurent, Business Systems Controller

Read the full story here.

Setting up a Construction Data Warehouse – it isn’t one big database anymore

We talk to construction IT managers every day about construction data warehouses and business intelligence. Many people think that building a data warehouse means that you have to transform data and transfer or push it from several databases into one data warehouse. In the last few years data warehouse technology has evolved so you can leave data in it’s native location and include it in reports across systems. You can even combine traditional data warehouses where you move or synchronize data with data from other systems to create a broader data warehouse.

For example our clients that use Sage Timberline Office deploy our anterraDataCenter™ product to synchronize data from Pervasive databases (one per data folder) into a single Microsoft SQL database. This effectively gives them a Sage Timberline SQL database. This SQL database then becomes PART of another data warehouse when we write reports for our construction BI software that spans other systems like a CRM to get sales information to prepare work backlog forecasts.

By |February 15th, 2013|Blog Post, Construction|0 Comments

Good Reporting Breaks Down Walls Between Finance and Project Management Teams

Anterra’s growth is built on our customers’ success using our software.  As we prepare a for a big marketing campaign we are interviewing our clients to see how we have helped them and what impact Business Intelligence has had on their organization.  We’re seeing clients bring up a benefit we never anticipated – closer teamwork between the finance/accounting and project management groups.

Microsoft Surface Tablet Pricing Out – iPad competitor for Construction and Real Estate

Microsoft released pricing yesterday on the Microsoft store – click here for the Microsoft Store.  The release date is listed as Oct 26.  The really cool looking soft cover / keyboard is $129.

This price is comparable to iPads with full functioning Windows 8 tablet software that unlike iPads will let you save files to folders and use full versions of Microsoft Excel, Word and Outlook.  I wouldn’t recommend you order for construction and real estate yet as

a) they haven’t been available for reviews yet – no one can say how well they will work

b) they don’t have cellular cards – you can only use it if you have wifi at your job site or property.  Alternatively you can use your phone as a hotspot.

Microsoft plans on selling a lot of these tablets – according to the Wall Street Journal they are producing 3 to 5 million of them – you can read the article here.

By |October 17th, 2012|Blog Post, Tablets|0 Comments