Spectrum Construction Management Software is a great fit for many businesses.Â Find out if it's the right choice for you!Â Are you looking for a Spectrum Construction Management Software demo, technical support, product or pricing information or to simply to compare Spectrum Construction Management Software with competitive options? Quickly get answers and the information you need.
Spectrum’s Time + Material module provides contractors with an easy method of calculating and preparing time and material invoices and billing details for ongoing jobs. Contractors who bill on a time and material or cost-plus basis will find that this module provides a simple and efficient way of tracking and billing these jobs. Bills are produced as soon as the costs have been committed, eliminating the need to wait for all the invoices to arrive and for payroll to be processed.
Time + Material allows for user-defined markups for each cost type or job total. Contractor fees can be added automatically or entered after the billing has been created. Multiple billing formats are available for each job and all line items can be modified, even after the bill has been created. When the bill is printed, amounts are automatically transferred to the Accounts Receivable module without duplicating entries, and an invoice is created. The system tracks billings so that only new items are billed; previously billed items are not mistakenly re-billed. New items entered to a previously billed period are not lost, but are billed through a currently open billing period.
Time + Material: This report produces a complete time and materials bill with options for a detail history for each phase/job cost type, each phase only, or each cost type only. The bill can also be sorted by cost type or by phase, with selection options for job range, project manager, division, phase, or cost type.
Profitability Report: This report generates a summary or detail report with the billing amount, actual cost, profit, and profit percentage for each Time + Material bill, with subtotals by phase and cost type. Markups and profitability are easily evaluated by job, project manager, or division. Since all items involved in billings can be stored as long as desired, profitability reports can be run for any date for comparison purposes.
Other Time + Material Reports
"Time + Material Billing" is part of the Spectrum Construction Management Software line of products, developed by Dexter + Chaney.