General Ledger
Twenty20 aggregates and organizes the debits and credits of transactions from within its different applications into Journals (subsidiary ledgers), and Operating Units. Resulting journal entries include all the details related to the transactions, so as they are available for auditing and reporting.
Analyze your data with our pivot tables and drill-down to the specifics. Print, download, and/or export to Excel, and/or e-mail. Choose how to share with your financial team.
- CFOs, CPA, and Controllers will have an easy time preparing documents
- Produce Financial Statements for lenders and sureties
- Bookkeepers can identify and track their work
- Make short work of fulfilling Audit requests
Payables
Twenty20 helps you to know your planned expenditures, that jobs are getting done, and that vendors are getting paid on time and for the right amounts.
Easily and quickly enter Invoices and Credits from, and Payments to material suppliers, subcontractors, rental companies, insurers, etc.
- Product Lists ensure correct default GL accounts and vendor specific pricing are applied, resulting in fewer keystrokes and errors
- Attach invoices & related documents directly to their records
- Approval process makes sure details are accurate prior to posting
- Include 'use tax' details on vendor invoices and/or accrue taxes due that were not charged by the vendor, but are still due
- Plan expenditures with Purchase Orders, Subcontract Agreements, and Subcontract Change Orders
- Track Subcontractor Retention amounts when held and billed with distinct GL accounts and Aging Reports
Receivables
Twenty20 kicks off your jobs' construction accounting and job costing. Manage your revenue workflows with a variety of customer billing options.
Set up your different types of contracts in the different ways you need. This sets the projects in motion. Next, build your invoices, send pencil copies, finalize them, and get paid.
- Standard Invoices allow for simple, unit price, and T&M billing, and 'sales tax' charges
- Progress Billing worksheets show prior billed amounts and costs-to-date, include Retention and Stored Materials, and can be printed on various industry standard templates
- Accounts Receivable Aging reports and customer statements show monies due and retention held
Cash Management
Twenty20 helps you keep an eye on the company's wallet. Paper checks and electronic transactions are always in view.
The CFO and Controller know when to record bank transfers, since they can arrange and report on each aspect of the individual cash and credit card accounts in real time.
- Import Bank Statements for quick and accurate monthly reconciliation
- Limit double work by importing Credit Card Statements, rather than having to enter an AP invoice with each transaction
- Accept, approve, and code Expense Reports
- Cash Flow Reports help you to manage check runs and when it's time for collection calls
