Exchequer Enterprise drives CIS Compliance at Russell Brothers Builders
Business and accounting software automates Year-End Returns to Inland Revenue and reduces manual admin by two hours per day
Northern Ireland -based building contractor, Russell Brothers Builders, is implementing Exchequer Software's business and accounting software, Exchequer Enterprise, in order to streamline its financial management and automate the employment and tax deductions of Sub-contract labour. The Implementation and ongoing support of the system will be managed by systems reseller, Xperience.
Exchequer Enterprise incorporates a fully integrated CIS module (RCT module in Ireland) which has been developed to meet the requirements of the Construction Industry Scheme in the UK (Relevant Contracts Tax Scheme in Ireland). Exchequer Software is the only mainstream accounting software author that has developed its own fully integrated CIS/RCT compliant costing facility. The Exchequer Enterprise CIS/RCT module has been fully approved by the Inland Revenue.
Exchequer Enterprise also appealed to Russell Brothers Builders because of its ease of integration with Microsoft Excel and the software's unique drill down functionality which ensures that accurate financial information about any contract is readily available to the company.
Liz McCartan, Financial Director at Russell Brothers Builders says, 'It is imperative that we are able to complete our Year-End returns to the Inland Revenue quickly and easily in order to comply with all of the legislative aspects of the Relevant Contracts Tax scheme (CIS). Without Exchequer Enterprise this would be a very time consuming and laborious task with information having to be complied manually. However, we are now able to automate all of the key aspects of RCT which means that we can reduce the volume of manual administration in the business.'
She continues, 'Exchequer Enterprise not only helps us to comply with the latest RCT legislation in the industry, but it also provides us with highly sophisticated reports that enable us to accurately track the financial status of any contract. This saves us up to two hours a day as we are no longer having to wade through reams of paper work in order to get the information we require ' with just a few clicks of the mouse button it is available at our fingertips.'
Russell Brothers Builders looked at three different accounting software solutions in the market, but chose Exchequer Enterprise because of its broad functionality, coupled with the professional approach of systems reseller, Xperience. McCartan says, 'We have an excellent working relationship with Xperience and have found them to be very supportive, knowledgeable and easy to work with. They took the time to understand our business requirements and were able to clearly demonstrate how Exchequer Enterprise could help us automate some of our core business activities, freeing up the time of staff to concentrate on other tasks.'