SortMyBooks has a job-costing feature. You can tag every single transaction with a job and then run a Profit and Loss report that shows you how much you made and what you spent on each job and what the profit was. There’s also a work in progress report. This shows, for each job, how much you originally Quoted, how much you’ve invoiced so far, how much you have spent on labour, how much on materials and what’s remaining.
This works nicely in conjunction with the Job-Costing. You record your employees hours on each job along with their cost per hour. Remember employees do not cost what they’re paid. You have to pay Employer’s PRSI, Pension Contribution and don’t forget, you also pay them 6 weeks a year not to be at work. So the figure that gets set up in time-sheets is their cost per hour. This way your Job Analysis report shows you the true cost of labour on each job.
If you have sub-contractors, there are specific VAT compliance rules, eg. Reverse Charge VAT (RCV), where you, as the Principal Contractor, have to account for your sub-contractor’s VAT. SortMyBooks has this feature built in. We have an easy to follow set of instructions to make sure you do this correctly. https://sortmybooks.zendesk.com/hc/en-us/articles/235881948-How-to-deal-with-Reverse-Charge-Vat-RCV-
You won’t find this feature on any other cloud software!
Relevant Contracts Tax (RCT)
This is withholding tax that you may have to deduct from some of your sub-contractors. SortMyBooks has an easy method for setting up and tracking this. https://sortmybooks.zendesk.com/hc/en-us/articles/235881988-How-to-handle-C35-Withholding-Invoices
Again we’re the only software that does this properly!
Automated Data Entry
The SortMyBooks integration with AutoEntry means you never have to worry about losing receipts again. You just take a photo, with your app, and send it off. Same with your purchase invoices, ask your supplier to email them either to you or straight to AutoEntry. They’ll get entered into SortMyBooks for you. Have a look here for more details and a video showing one of our customers using it. https://sortmybooks.com/make-your-life-easier/
Import Online Banking Transactions
You can import your online banking transactions straight into SortMyBooks. This feature saves hours on re-entering the same information again.
We’ve got qualified bookkeepers who are experts in SortMyBooks to help you. And remember because it’s cloud based, your bookkeeper can log-in from their own office, saving both of you time and money.
We’ve caught Niall on video explaining how he uses SortMyBooks https://vimeo.com/38406222