Managing financial operations efficiently is essential for businesses in the timber, building, plumbing, and electrical industries. ERP accounting systems provide a centralised approach to handling financial transactions, ensuring accuracy, compliance, and streamlined processes. Frameworks offers a fully integrated financial management solution, allowing businesses to manage everything from general ledger and tax reporting to multi-company financials within a single platform.
With Frameworks ERP, businesses in the trades and construction sectors can automate financial tracking, reduce manual reconciliation, and improve reporting accuracy—ensuring greater financial control.
Integrated Financial Management for Trade and Construction Businesses
A fully integrated financial system eliminates the need for separate accounting software, allowing financial transactions to flow seamlessly through sales, purchasing, accounts payable, accounts receivable, and banking. This integration ensures that all financial data is updated in real time, reducing manual reconciliation and improving accuracy.
With Frameworks ERP, businesses in timber supply, building, plumbing contracting, and electrical services benefit from:
- – End-to-end financial processing – Track financials from initial invoicing through to tax reporting.
- – Banking and reconciliations – Automated reconciliation ensures financial records align with actual cash flow.
- – Industry-specific invoicing – Whether it’s job-based billing for electricians, supplier invoicing for timber yards, or multi-stage project payments for builders, the system handles diverse financial needs.
- – Regional tax compliance – GST and VAT support for Australia, New Zealand, and Fiji ensures tax obligations are met.
By keeping financial data aligned with operational workflows, businesses can avoid duplication, enhance reporting accuracy, and reduce administrative overhead.
Real-Time Financial Reporting for Industry-Specific Needs
Accurate reporting is essential for decision-making, particularly in trade-based industries where cash flow and project costs fluctuate. With ERP accounting software, businesses can generate profit and loss reports, balance sheets, and tax statements directly from their Cloud ERP system.
Frameworks provides a financial reporting dashboard that allows:
- – Drill-through financial data – Navigate from summary reports to detailed transactions for full transparency.
- – Custom reporting by industry segment – View financial performance by cost centre, project, company, or branch.
- – Export reports for deeper analysis – Data can be exported to Excel or other financial reporting tools.
For building and construction businesses, this means clear insights into job costing, materials spend, and project profitability. Timber suppliers can monitor cash flow from wholesalers and contractors, while plumbing and electrical service providers can track outstanding invoices and streamline account management.
Multi-Company and Multi-Branch Support
For businesses with multiple locations or subsidiaries, consolidating financials can be challenging. An integrated ERP accounting system simplifies this by managing financial data across different entities while maintaining individual reporting where required.
Frameworks ERP supports:
- – Multi-company accounting – Consolidate financials for suppliers, contractors, and service providers under a single system.
- – Inter-company transactions – Automate financial interactions between business units to eliminate manual adjustments.
- – Multi-branch and site management – Ideal for building firms operating in different regions or timber suppliers with multiple warehouses.
This approach ensures greater financial oversight while reducing the complexity of managing multiple business units.
Accounts Payable and Receivable Management for Trade Businesses
For businesses in ‘our’ industries, managing accounts payable (AP) and accounts receivable (AR) effectively is key to maintaining a healthy cash flow. Delayed payments, manual invoicing, and tracking outstanding balances can be time-consuming. ERP and accounting software automates these processes, reducing errors and ensuring timely payments.
Frameworks includes:
- – Automated invoice tracking – Keep records of payments, outstanding balances, and due dates.
- – Flexible payment terms – Whether it’s progress payments in construction, supplier invoicing for timber yards, or service contracts for electrical contractors, the system adapts to different business models.
- – Approval workflows – Set up job-based payment approvals to improve financial control.
- – Bank integration – Synchronise transactions with bank accounts for real-time cash flow monitoring.
By automating these functions, trades and construction businesses can reduce administrative work while ensuring payments are processed on time.
Tax Compliance for Industry-Specific Financial Management
Tax reporting varies between industries, with different obligations for contractors, suppliers, and service businesses. ERP and accounting systems help businesses calculate, track, and report tax obligations without manual intervention.
Frameworks simplifies tax reporting by:
- – Automating GST and VAT calculations – Applied consistently across transactions.
- – Generating real-time tax reports – Simplifies tax submissions for builders, electricians, and suppliers.
- – Ensuring compliance in multiple jurisdictions – Supports businesses operating in Australia, New Zealand, and Fiji.
By integrating tax compliance into the ERP system, businesses reduce the risk of errors and streamline reporting.
Bank Reconciliation for Accurate Financial Tracking
Bank reconciliation is essential for ensuring financial records match actual cash flow. For construction businesses managing large supplier payments, electrical firms handling service contracts, and timber suppliers tracking bulk orders, manual reconciliation is inefficient and error-prone. An ERP accounting system automates this process.
With Frameworks, businesses can:
- – Automatically match transactions – Identify and reconcile payments, deposits, and withdrawals.
- – Flag errors early – Detect inconsistencies between recorded transactions and bank statements.
- – Improve financial control – Ensure real-time cash flow visibility.
With automated reconciliation, Frameworks ERP simplifies financial management, reducing the risk of discrepancies and delays.
General Ledger for Industry-Specific Financial Oversight
A general ledger (GL) dashboard provides an overview of financial transactions, serving as the foundation for accurate financial reporting. Accounting ERP systems ensure that transactions from different business units, projects, and contracts are properly recorded.
With Frameworks, businesses can:
- – Track industry-specific financials – View timber stock movements, construction project costs, or electrical service billings in one system.
- – Generate financial statements with ease – Produce custom balance sheets and profit and loss reports based on business needs.
- – Drill through transactions for auditing – Trace financial records to source transactions.
This approach ensures that businesses maintain accurate, structured, and compliant financial records.
Why Businesses in the Timber, Building, Plumbing, and Electrical Industries Choose ERP Accounting
Managing financials with ERP and accounting software simplifies processes and improves efficiency. Businesses benefit from:
- – A single system for finance and operations – No need for separate accounting software or manual reconciliations.
- – Industry-specific financial workflows – Adaptable to contractor payments, supplier invoicing, and project-based accounting.
- – Real-time financial updates – Transactions are recorded instantly, ensuring accurate reporting.
- – Multi-company and branch management – Supports businesses with multiple locations and divisions.
- – Automated tax compliance – Ensures GST, VAT, and financial obligations are met seamlessly.
With Frameworks Australian ERP, businesses in these sectors gain a comprehensive financial management solution that integrates seamlessly with their operations.
Discover how Frameworks ERP can improve financial efficiency in your industry. Request a demo today.