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Advantages for Accounts Processes

Since the inception of currency, taxes and trade have been a dominant part of our society and accounting processes. These have historically been controlled and managed by governments to reduce fraud and ensure the ability to claim taxes is possible under the law. For this reason, the processes and systems that accountants, banks, and accounting systems (e.g. Xero Accounting Software) follow are highly regulated with strong compliance and uniformity.

PX360 integrates well with these strong accounting systems as part of what the Director and Founder, Tom Heneker, sees as “a great fit for small construction businesses.”

“A major benefit we see for its use within the construction industry is the use of receipt forwarding technology like Dext, Hubdoc, and Synced which allow for all purchases and copies of receipts to be added straight into Xero for reporting, as well as major Australian banks providing account transaction integration,” says Tom, “allowing for these receipts, images, and costs to be allocated to a PX360 project. This strong integration ecosystem halves the bookkeeping time on data entry.”

Tom goes on to say that this allows construction teams to quickly and easily use project management software combined with accurate budget management, variation tracking, and progress claim benefits, with no double handling and no additional admin resources.

Since Xero and PX360 are linked together, they are working from the same information. As values change in one system, the other system will make the same changes to match. That alone makes PX360 a smart choice for any construction business.

This incredibly strong integration works side-by-side with standard accounting practices. It’s completely unique to PX360 and, thus, differentiates the software from any competitors in the market. The system also provides Xero with Labour Timesheeting for quick and automated Xero payroll, allowing labour teams to track their tasks back to a project, and providing great budget tracking benefits.

“Working with PX360 and its linked functionality to Xero has really worked well for us. We have reduced our admin/payroll staff costs from 3 days a week to 1 day a week!” – Jackal Constructions

The fundamental strength of the PX360 software is how it positions itself within the tech software needs for small construction businesses to perform efficiently. PX360 works within the information data ecosystem after the accounting software, allowing for a refined accounts process to exist while receiving the necessary project financial information to track and manage construction projects. This process receives strong recommendations from accountants and bookkeepers.

“This gives strength in your systems doing what they do best and your people working to their strengths. Accountants and bookkeepers are not trained in construction, so why force them to adopt a system that isn’t specifically designed for construction project management? PX360 gives them that perfect balance.” Tom Heneker says.

All in all, PX360 project management handles all cost, labour, and budget tracking, while keeping up with your contract obligations in variations, extensions of time, and more. This reduces your need for excessive administrative costs and enables you to run your projects and your business more efficiently.