MaximiSe Project Potential with Bizprac

Explore our comprehensive guides to harness Bizprac’s full suite of features, ensuring project efficiency and profitability. Need specific insights? Search our resources or reach out for tailored support.
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Accounts

Bizprac offers comprehensive tools for managing financial year transitions, accounting methods, and clearing bad debts, enhancing financial accuracy and oversight.

End of Year Reset

Bizprac allows for data entry for a period covering 2 years. Usually this will be the current financial year and the next financial year. At the end of the accounting period covering the 2 years, you will need to complete an end of year reset. This will need to be completed if you wish to continue adding new information into Bizprac. An end of year reset can be completed once all the financial information has been finalised by your accountant. The procedure will automatically create a copy of the current database, roll the accounts information over, creating a database of the historical data. This can be accessed later as required.

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Cash or Accrual Accounting

Cash or Accrual is the accounting method that is used for the calculation of the BAS and the paying of GST. This setting will determine the method used to calculate the BAS, so it is imperative that this is selected correctly. The GST method is generally set when the Business Books are setup; they will only change if directed to do so by the ATO.

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Clearing Bad Debts

If there is an amount that will not be paid, create a credit note for the amount being written off. You can either use the income account or use a separate bad debts ledger.

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Cash Book

Bizprac's Cashbook facilitates efficient management of cash transactions, including receipts, payments, and bank transfers, streamlining financial operations.

Cash Receipts

Cash receipts in Bizprac are issued for various forms of income, such as debtor payments, interest, and refunds. These can be allocated directly to bank accounts, with the option for automatic allocation to invoices, facilitating streamlined fund management and reconciliation processes​​.

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Cash Payments

Payments for invoices and payroll are automatically posted to the cash payments listing. The list will show if the payment is to a creditor, employee or to cash.

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Bank Transfers

ABA files are used for bulk electronic payments. Bizprac is able to create the ABA file for use with your internet banking software. The files are created and the user uploads the ABA file via their banking software. This allows you to make bulk payments, saving time and manual entry reducing errors in processing.

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Debtors

Streamline debtor management with various invoicing options tailored to job claims, price list items, and cost-plus invoicing, ensuring precise billing. Bizprac Premium & Ultimate allow you to invoice a debtor for multiple jobs. Bizprac Ultimate allows you to also deduct retentions.

Debtor- Invoicing Job Claims

Job claims invoicing draws directly from job costs, allowing for detailed invoice creation from selected entries or a total of line entries. Markup can be adjusted, and the invoice reflects the selected descriptions or total claim amount, facilitating clear and accurate billing based on job progress​​.

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Debtor- Invoicing From the Price List

Debtor invoicing need not be complicated and there are several methods available to generate debtor invoices. It is important to select the best method for the project at hand. This guide will assist with the invoicing method of cost plus.

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Debtor- Invoicing Cost Plus

Debtor invoicing need not be complicated and there are several methods available to generate debtor invoices. It is important to select the best method for the project at hand. This guide will assist with the invoicing method of cost plus.

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Estimating

Bizprac Estimating integrates deeply with the entire software suite, enabling comprehensive job creation, purchase ordering, and financial tracking directly from estimates.

Estimating Functions & Features

Bizprac's estimating functions are designed for flexibility and efficiency, supporting a range of estimating needs from simple to complex projects. With features like direct job and purchase order creation from estimates, Bizprac streamlines the estimating process and enhances project management capabilities​​.

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Trade Breakup Functions & Features

By clicking on the Trade Breakup, you will access the information contained in the estimate.

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Marking up an Estimate

The estimate setting found in the trade break up has several options for marking up your estimate. The mark up on an estimate is the amount added to the cost of the project. Once all costs of the project are taken into consideration, the amount left over is the profit of the job. Using the mark up option will help you to assess the potential profit you can expect.

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Potential Clients

The clients area will allow you to add potential or client contact details for the quoting/ estimating process. Since they will not have signed a contract at this time they will not be in the debtor list. If they do not accept the quote they may never go into the debtor list. Repeat clients do not need to be entered multiple times, the same record can be reused. Diary, general or action notes can be added to record information. Clients are attached to the estimate that is being worked on and can be turned into a debtor upon the job creation process.

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General Ledger

Bizprac's General Ledger module centralises financial data management, enabling precise tracking of transactions, bank activities, journals, and initial balances for comprehensive oversight.

General Ledger Essentials

The General Ledger in Bizprac holds all accounts necessary for recording business transactions, including assets, liabilities, equity, revenue, and expenses. Its functionality extends to modifying or deleting ledgers, with an intuitive view for easy management of financial data​​.

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Tips for the General Ledger

The General Ledger of Bizprac is the centre for all of the business accounts. Bizprac varies from generic accounting packages in a number of areas. The job costing is completed through the jobs section of the program; so there is no need for an extensive list of ledgers to track costing. Ledgers can be added as required but are not needed for job reporting; so it is recommended that ledgers be kept to a minimum. Ledgers are not required to be linked to GST codes; which allows for flexibility if an adjustment needs to be made. It also ensures a greater degree of accuracy for preparing the BAS. In comparison to other accounting packages the list of tax codes may seem quite small. Don’t be fooled into thinking you need a long list of tax codes to manage your business. Bizprac’s list of pre set codes will help you accurately track and report for your business. Using Bizprac’s estimating and account integrated package allows you to report accurately and in real time without the use of extensive ledgers or GST codes. Whilst all care is taken to ensure that the GST codes used are suitable for the construction industry; individual business needs may vary or change over time. We recommend that you periodically review the codes and ensure that the setup meets your needs. Additional codes can be added as required. If you have any questions regarding GST codes that you should be using please consult the ATO or your Accountant.

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General Ledger Setting up Bank Accounts

Bank accounts in the listing of ledgers are identified easily by the green icon next to them. Only bank accounts that need to be reconciled will be marked with this icon. Bizprac by default has 2 ledgers designated as bank accounts; Cash at Bank and Cash on Hand. You can either modify these 2 accounts to reflect you bank accounts or add bank account ledgers.

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General Ledger Setting up Loan & Credit Cards

Loan accounts and credit cards are setup in the ledger as liabilities to the company. Loans could be an overdraft facility, car loan or credit card. As liabilities the ledger will go up or down as the transactions are processed. When adding ledgers for loan accounts an opening balance can be added to as to track the outstanding amount on the loan.

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Payroll

Ensure seamless payroll processing, compliance with tax laws, and management of employee benefits with Bizprac's comprehensive payroll features.

Payroll Foundations

Bizprac's payroll system is integral for businesses with employees, facilitating not just payroll processing but also superannuation reporting, leave accrual tracking, and Single Touch Payroll (STP) reporting. It requires complete information entry before payroll can be processed, ensuring compliance and accuracy.

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Payroll Setting

There are a number of things that will need to be set prior to running any pay runs or lodging STP or creating SuperStream reports. Ensuring that all of these areas are set will help to provide a smooth process for payroll as well as for reporting. Notes can be set to be included on the pay advice for employees. Set reminders for key dates such as Super reporting. Set the file location for the use of ABA files, as well as emailing of pay advices. Add and maintain details of the Superannuation Funds. In the employee’s window, documents can be attached as well as diary notes and normal notes. Reminders can also be set for individual employees.

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Adding Employees

Click on employees to open the employee screen. In this screen you can add employees, setup employee profiles, set reminders, add documents, notes and the diary function can be used to record information for the employees. An employee number will automatically be added, if transferring over from another payroll system you may use the employee number previously assigned. Ensure you fill in each of the appropriate drop down fields. Add the relevant address details, contact numbers and email address.

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Wage Entry Templates

Wage entries are the components that make up an employee's wage. It is best to keep the wage categories simple. Start with the basics, additional wage entries can be added as required. Any increase to the employees' hourly rate is applied through the employees pay profile.

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Retentions

Bizprac streamlines the management and claiming process for both creditor and debtor retentions, ensuring contract fulfillment and compliance.

Introduction to Retentions

Bizprac facilitates the claiming of creditor retentions through a structured process, allowing for full or partial authorisation of retentions. Once authorised, retentions can be claimed, generating invoices marked with 'RI' for easy identification and payment processing, ensuring accurate financial transactions and compliance​​. Retentions is a percentage of a payment that is held either by a client or the main contractor as security to ensure that the works will be completed and any defects that arise will be rectified. Retentions are calculated as a percentage of the contract value. In some cases a Bank Guarantee may be provided instead of Retentions. Alternately a combination of retentions and bank guarantee can be used.

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Debtor Retentions

A debtor retention is an amount that is retained or deducted from an invoice submitted to a debtor. The Debtor can only do this if we have a signed contract for a job/project agreeing to the retention terms. This money is held to ensure the completion of the contract and will be released in accord with the terms of the contract.

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Claiming a Debtor Retention

All outstanding retentions will be listed in the Debtor Retentions. Sorts can be applied by Debtor or by job. Reminders and due dates can be set.

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Creditor Retentions

A creditor retention is an amount that is retained or deducted from an invoice submitted by a creditor. The retention is deducted from submitted invoices as security for the completion of works and or defects to a satisfactory standard. In QLD, Retention Trust accounts must be used for the management of retention funds. Please refer to the Trust Account guide for details. In Bizprac, Creditor Retentions are setup through the Creditor Contracts window. A contract can be entered manually or created from a purchase order.

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Security

Implement robust security protocols with Bizprac's 2-Step Authentication, ensuring a secure environment for sensitive business data.

Security 2 Step Authentication

Bizprac supports 2-step authentication, offering an additional layer of security beyond just the password. Users can activate this feature for each account, requiring a verification code from the Google Authenticator app on a mobile device to access the system, significantly enhancing account security​​.

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Introduction

Two-step authentication, also known as two-factor authentication (2FA), is a security process in which a user provides two different authentication factors to verify their identity. The idea is that even if one factor is comprised (e.g. a password is stolen), the attacker would still need the second factor to gain access. This extra layer of security significantly enhances the protection of online accounts, logins and sensitive information, as it makes it more difficult for unauthorised individuals to gain access. Bizprac has the ability to enable 2 factor authentication, security logins must be enabled and then the additional layer added as needed. You will need to enable this process for each user logging into the program. The user will need to have the Google Authenticator app on your mobile device.

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Security

Locate the security user's menu under the setup tab. If security has not been setup previously, you will need to set it up for each user logging into the program.

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Enable Authentication

For each user select the level of access that the person will need. Tick to enable the two-factor authentication. Click okay to save the selected options.

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Technical

Ensure optimal performance of Bizprac software by meeting the minimum system requirements, guaranteeing smooth and efficient operations.

Minimum System Requirements

For optimal performance, Bizprac requires a Windows environment with specific hardware and software configurations. Key requirements include an Intel Quadcore processor or equivalent, 8GB RAM, Windows 8 or later Professional or Business Edition, and a LAN or ADSL router setup. Adhering to these guidelines ensures that Bizprac runs effectively within the Microsoft Windows framework​​.

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Expertise IN PRACTICE

We look forward to helping you to understand our software and how it can help your business to grow and be more profitable.

1800 009 970 | sales@bizprac.com
Unit 8, 45-49 Commercial Drive,Shailer Park, QLD 4128

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FREQUENTLY ASKED QUESTION

What is Bizprac and who is it for?

Bizprac is an Australian construction platform with fully integrated features built for Australian builders by experts in the industry. Our platform enables builders to run their entire business end-to-end. Bizprac has integrated major functions such as accounting, estimates, invoicing, payroll and all you need to run your business.

What features do Bizprac offer?

Our comprehensive set of key features can be found here. We've designed the Bizprac platform to uniquely cater to Australian construction companies and have included features for builder retentions, estimates with structures, digital takeoff that is powered by ExtrAXION and other features critical to a construction business. We also allow you to manage multiple projects at no additional cost.

Can Bizprac handle payroll and accounting?

Not only can we handle payroll and accounting, but we make it super easy for you! Bizprac's end-to-end accounting gives you real-time insights into your project's health, including job cost controls, estimates, timesheets and easy dashboard reporting. Our Single Touch Payroll allows you to run payroll with a click of a button and automate submissions to the Australian Tax Office (ATO).

Is Bizprac easy to use?

We pride ourselves to be a no-frills, straight to the point platform. We've also assisted and provided hands-on support to all of our clients, starting from implementation and setup to after-sales or technical support thereafter.

How does Bizprac improve construction business management?

Bizprac is here to ensure you deliver projects on time and on budget. We enable construction business owners by ensuring their project never overruns and maximizes profitability.

What is Bizprac and who is it for?
What features does Bizprac offer?
Can Bizprac handle payroll and accounting?
Is Bizprac easy to use?
How does Bizprac improve construction business management?