Sage 100 Contractor:

Maximizing Efficiency and Accuracy:

Time and Materials (T&M) billing is a common method for construction and contracting businesses to accurately invoice clients based on actual hours worked and materials used. In this blog post, we will explore how Sage 100 Contractor can streamline the T&M billing process, ensuring efficiency and accuracy for your business.

Understanding Time and Materials Billing:

Time and Materials billing is a billing method where clients are invoiced for the actual hours worked by employees and the materials consumed during a project. This billing approach is commonly used in construction projects, where estimating the exact costs upfront is challenging. Sage 100 Contractor simplifies the T&M billing process by providing comprehensive tools to track time, expenses, and materials used, ensuring accurate and transparent billing.

Benefits of Time and Materials Billing in Sage 100 Contractor:

2.1 Accurate Invoicing:

Sage 100 Contractor allows you to accurately track and record time spent on each project and materials used, ensuring precise billing.

2.2 Transparency:

With detailed records of hours worked and materials used, you can provide clients with transparent invoices, building trust and credibility.

2.3 Streamlined Processes:

Sage 100 Contractor automates the T&M billing process, eliminating manual calculations and reducing administrative errors.

2.4 Increased Profitability:

By accurately capturing billable hours and materials, you can ensure that you are invoicing for all project costs, maximizing profitability.

Setting up Time and Materials Billing in Sage 100 Contractor:

3.1 Configuring Project and Task Codes:

Create project codes and task codes to accurately allocate time and materials to each project and task.

3.2 Employee Time Tracking:

Utilize Sage 100 Contractor’s time tracking feature to record and allocate billable hours to specific projects and tasks.

3.3 Expense Tracking:

Record and categorize expenses related to materials used during a project for precise billing.

3.4 Job Costing and Reporting:

Leverage the job costing and reporting features of Sage 100 Contractor to gain insights into project profitability and identify areas for improvement.

Implementing Time and Materials Billing:

4.1 Recording Time and Materials:

Train your employees to accurately record their time and materials used for each project, ensuring accurate billing.

4.2 Reviewing and Approving Entries:

Set up a review and approval process to ensure the accuracy of time and materials entries before invoicing the client.

4.3 Generating Invoices:

Utilize Sage 100 Contractor’s billing module to generate professional and itemized invoices for your clients based on recorded time and materials.

4.4 Reviewing Project Profitability:

Regularly review project profitability reports in Sage 100 Contractor to identify any discrepancies or areas for improvement in your T&M billing processes.

Implementing Time and Materials billing in Sage 100 Contractor streamlines the billing process for construction and contracting businesses. By accurately capturing billable hours and materials used, you can ensure transparency, increase profitability, and provide clients with precise invoices. Embrace the power of Sage 100 Contractor’s T&M billing capabilities to enhance efficiency, accuracy, and profitability in your business.