Definition

Foundation Software

Part of the Software applications glossary:

Foundation Software Inc. is a Dayton, Ohio-based company that provides construction accounting software. The company's foundation for Windows allows users to manage typical business accounting functions, such as payroll, job costing, accounts payable and receivable, general ledger, purchase orders, and sub contracts. Additionally, it provides a customizable report and form designs and a CPA audit and review dashboard.

Foundation Software offers several construction specific modules:

  • With the purchase orders/subcontracts module, users are able to order inventory, print purchase orders, change orders and subcontracts, report committed costs, and control invoicing.
  • The CPA audit/review console is designed specifically for accounting professionals doing reviews for Foundation users by leaving a complete audit trail and listing all relevant reports and data for the CPA.
  • The fixed asset module tracks the acquisition, depreciation and retirement of fixed assets and other construction equipment. It also allows for the use of various depreciation methods.
  • The inventory module lets contractors track on-hand, on-order, back-ordered, allocated, and available quantities of inventory. Price levels and stocking locations can be tracked as well.
  • The time and material module allows users to mark up job expenses by taking all the costs posted to a particular client and allowing the user to create a custom report.
  • Finally, the unit price billing module is designed for contractors who work for government agencies and are required to submit specialized reports.

According to Foundation Software, companies that use its software typically earn between $2 and $40 million a year in revenue and have between 15 and 250 field employees.

 

Learn More About IT:
> ConstructionSoftwareReview.com offers an overview of Foundation Software.
> Foundation Software CEO Fred Ode has his own blog.

This was last updated in June 2008
Contributor(s): Cynthia Dugan
Posted by: Margaret Rouse

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