Factor Blog for Architecture & Engineering Firms

Finding the ideal software solution is an important step in managing your architecture or engineering (A/E) effectively. But it’s just the first step. Next, you’ve got to implement that system, train your people, and get them comfortable using it. Of course, even with the most intuitive systems, implementations can “go sideways” for various reasons. Fortunately, you can take action to ensure a successful system launch.

QuickBooks Online (QBO) is a powerful financial tool that pairs well with architecture and engineering (A/E) project manager platforms. But to migrate your data to QBO efficiently and effectively, you’ve got to know the benefits of making the move and how to prepare properly for it.

The Factor team has wasted no time developing a variety of new and improved features in Q1 2022. Make sure you are taking advantage of all of these exciting enhancements or reach out to a product specialist to learn more.

Architecture and engineering (A/E) firms use various methods to manage the fees of subconsultants (subs) within their projects. Ideally, all the various subconsultant scenarios a firm encounters could be handled in a system that combines project management and invoicing capabilities. Unfortunately, most project management software is designed to handle only one or two scenarios at best. Here is a breakdown of more common scenerios and best practices on how to handle them.

For architecture and engineering (A/E) firms, resource planning is both an art and a science. You’ve got to consider several variables, including team capacity, project timelines, and client budgets. Fail to consider all of these factors, and projects can go “off the rails” very quickly!

If you generate invoices manually every month, you probably don’t look forward to that task. And, if you’re committed to providing precisely the information each client wants to see in a layout that makes sense to them, you face an even more significant time commitment. There is an easier way! Technology can bring you a variety of invoice templates that will satisfy the requests of your A/E clients.

Times are changing. Employees no longer plan to stay with one firm for decades—particularly if it becomes clear that they won’t be getting the role they’re focused on. They want to be PMs and they want to start their training asap. That means A/E firms have to be intentional about how they “groom” their talent if they want the best employees to stick around.

The exclamation “Happy Holidays!” typically rings a little hollow for architecture and engineering (A/E) firm accountants. Instead of being fun and festive, the end of the calendar year is one of their busiest times (along with tax season), as they scramble to complete a variety of tasks. However, there are ways that A/E firm accounting departments can complete those tasks without all of the usual stress.

The Factor team is committed to continuously improving your experience and helping your firm succeed. This blog outlines a few new features that were released in the past month that you should be sure to take advantage of. Try them out and let us know what you think!

QuickBooks scales just fine for general accounting tasks and can work for firms of all sizes. As a business scales up, they may have additional needs beyond accounting, but that doesn’t mean QuickBooks doesn’t still perform. You might just need something other than an accounting package to run your firm.