E-Update Company Information

The company file contains all the information about the preferences your company has for using TACT.
Answering Y to Using % Complete Accounting Method ensures that all job related costs that you enter must be posted to job related General Ledger accounts.
TACT allows you to either enter your own invoice numbers or have them assigned sequentially for you.

You can name an income type account for Accounts Receivable.

You may choose to print invoices on your own letterhead. If not, TACT will print your name, address and phone for you.
You may name your own laser copies of invoices (up to 5 copies). You may also set default descriptions that will be entered for each type of income you bill in A/R.

If you are using TACTís T&M Billing Module, you can specify if you want to look up prices by item number or description and whether or not you wish to add overhead and profit to invoices.
Terms may be specified for invoices as well as messages to be printed on statements.

TACT does not typically book any finance charges that are printed on statements. If you do want to book interest, you may choose that option.
You may choose to let TACT help you track Use tax in A/P. If you choose this option, you will be asked if you want to add use tax for any out of state invoice for which you did not enter tax.

If you are using TACTís Purchase Order Module you may name up to 5 copies for laser POís.
You may specify separate cash account for checks, deposits and payroll checks, if desired.
Payroll does a lot of posting automatically for you. Each time someone works on a job, their taxes, benefits and insurance costs are accrued and expensed to jobs.
TACT can handle EFTPS, direct deposit and 401(k) matching.

TACT also offers an overtime averaging option which will calculater overtime to be 1.5 times the average rate paid for the week, rather than 1.5 times the rate in effect on the job at the time the overtime was worked.
TACT prints both Federal and State Certified Payroll reports with compliance pages.
You can set up to 10 deductions for payroll. They can be a fixed amount, percent of gross pay, and hourly rate, a pre-tax reduction in gross or a 401(k) amount or percentage. A default GL account is set up for the credit.

You may also establish a taxable income account that you name.
TACT gives you many options for Jobcost.
You can choose from several options for General Ledger and Inventory.
You can also store miscellaneous information in the Company File on this screen.