General Inquiries

Foundation software costs to complete process

  • 1.  Foundation software costs to complete process

    Posted 06-18-2019 18:11
    ​Is anyone here using Foundation software and using their costs to complete process?  We currently have written our own forecasting process in Access to determine estimated total costs and estimated costs to complete.  We are a heavy highway contractor with large jobs that may have several phases.

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    Denise Day CPA
    Controller
    Phillips Hardy Inc.
    Boonville MO
    (660) 834-3030
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  • 2.  RE: Foundation software costs to complete process

    Posted 06-19-2019 08:14
    Hi Denise,

    I am currently using the over/underbilling report numbers but I transfer them onto excel. I am going to follow this post. I am curious to hear what everyone has to say.
    I am having a terrible time with the PM's and estimators giving me the information I need for an accurate cost to complete report.

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    Natalie Carper
    Accountant
    Boss Excavating & Grading, Inc
    Columbus OH
    (614) 876-1658​

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    Natalie Carper
    Accountant
    Boss Excavating & Grading, Inc
    Columbus OH
    (614) 876-1658
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  • 3.  RE: Foundation software costs to complete process

    Posted 06-19-2019 16:11
    Denise,

    I used Foundation at a previous position, and I linked all the tables to an Access database.  Then I created queries in Excel to extract the actual cost and estimated cost data from Foundation, so I could calculate the actual monthly percent completion percentages for our WIP.  I added a column to the WIP for the projected completion percentage, so we could forecast true completion numbers and assess whether the projects were running on track with the estimate or not.  This method really made things easier to assess current status and project going forward.

    If you have any questions, please let me know.

    Regards,

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    George Fernandez
    Controller
    Ermco, Inc.
    Indianapolis IN
    (317) 423-3872
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  • 4.  RE: Foundation software costs to complete process

    Posted 06-25-2019 12:27
    This is similar to what we've done - we wrote a program in Access which pulls the data out of Foundation and lets us forecast the remaining work - actually cost code by cost code.  It's very detailed!  My concern is that it was written by a former employee and I no longer have anyone who knows Access.  I've been told I should re-write the program in Sequel.

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    Denise Day CPA
    Controller
    Phillips Hardy Inc.
    Boonville MO
    (660) 834-3030
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