Craigavon-based building contractor, Russell Brothers Builders has installed Exchequer Enterprise business and accounting software in order to streamline its financial management and automate the employment and tax deductions of sub-contractors.
Exchequer Enterprise includes a fully integrated Inland Revenue approved RCT module which has been developed to meet the requirements of the Relevant Contracts Tax Scheme in Ireland. It also has a Construction Industry Scheme (CIS) compliant module for filing tax in the UK.
Russell Brothers Builders also chose Exchequer Software’s application because of its ease of integration with Microsoft Excel and its drill down functionality, which ensures that accurate financial information about any contract is readily available to the company. Implementation and ongoing support of the software is being managed by Lisburn-based systems reseller, Xperience.
‘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,’ said Liz McCartan, financial director at Russell Brothers Builders. ‘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 continued: ‘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.’
28/02/05
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