NEW financial management software has been introduced to help project-based businesses protect themselves against the risks of recession, incorrect BAS reporting and taxation audit concerns after the final 2000-2001 BAS returns in July.
The latest Muli Entre Professional computerised financial management and risk management package is designed to enable businesses to accurately project their expenses, commitments, costings and margins in highly competitive environments.
"Tight budgeting, accurate forecasting and precise expense allocation are keys to economic survival in a time when many businesses are being squeezed in a cashflow vice between the demands of a new tax system and competitive pressures in the marketplace," says Muli managing director Ron Skeoch.
The enhanced package - aimed at professionals involved in design, construction, engineering, quantity surveying, industrial project mangement and other project-based businesses - differs from standard accounting packages in that it enables users to plot the future rather than simply record the past.
"Whether companies have turnovers of $250,000 or $100 million, they also need to be confident when they file their annual or periodic BAS that they can survive ATO audits that are aimed at ensuring compliance.
“Muli Professional Entre is based on software that has already enabled clients to not only survive audits unscathed, but to instantaneously substantiate important claims made for refunds based on GST inputs. These are also vital to cash flow," Mr Skeoch said.
Enhancements in the latest Muli Entre Professional package centre on budgeting, forecasting and job costing areas. Included are modified payroll features that handle all time sheeting, both for contractors and for direct employees, and accurate payment systems encompassing the wide variety of skills involved in projects.
The system can be accessed and operated through Microsoft Windows, Macintosh and Unix. It is readily networkable so, for example, the project manager, the accounts manager and the business manager can sit down and use it at the same time. Additional outlets are easy to add at realistic costs.