- ABOUT MRI
A Comprehensive Real Estate Development Job Cost Solution
Screenshot is of the Web-based version of JobCost that was released with MRI Property Management v4.5 in September 2013.
From small tenant jobs to large-scale commercial and residential development, JobCost tracks all costs from inception to completion. Manage contract workflow from start to finish through every phase of the JobCost process. You can monitor all commitments from contracts, change orders, purchase orders, and invoices. JobCost provides detailed cost projections allowing you to develop accurate plans and will ensure you are never surprised by cost overruns. JobCost allows you to control all facets of construction including new development, tenant work, and capital improvements. With this enterprise software solution, your company will have greater accuracy and better budget control. In addition, JobCost is fully integrated with MRI Software’s suite of products giving you complete control over the entire lifecycle from development through property management.
Setup/Reporting — Track a project from start to completion and at any level of detail your organization requires. JobCost Information is setup and managed the way your organization needs – you define jobs, phases, and costcodes. JobCost also fully integrates with the MRI General Ledger system for easy reconciliation.
Budget Control —Take control of JobCost budget information so you can prevent unexpected cost overruns. View budget-to actuals and commitments on a project-to-date basis, calendar basis, consolidated basis, or by percentage of completion. Forecast cash requirements by period for construction jobs. JobCost gives you the ability to enter pending revisions and pending costs. It also enables you to quickly approve pending costs and revisions by line item to makes these budget revisions. Use the ability to validate multiple contracts for the same JobCost segment to a single budget amount for keeping your job within budget parameters.
Complete Commitments Management — Set up and track contracts, subcontracts, change orders, purchase orders, invoices, and retainage on all jobs. Increase productivity and mitigate user frustration with the ability to modify and adjust contract details with the secured contract correction option. Effortlessly link invoices created outside the draw process to the contract in order to provide accurate contract administration and cost tracking. You can process contractor applications for payment (form G702 and G703) and use the integrated MRI Accounts Payable System to pay the contractors. Contractors’ applications for payments are tracked against contractual commitments and payments to date.
Construction Costs — Control the billing of construction costs to owners, managers, tenants, customers, and other entities. JobCost lets you review contract information prior to preparing the invoice. Automatically invoice at cost or invoice a flat fee and percentage mark up. JobCost automatically tracks retainage and cap amounts, and generates invoices to track customer receivables.
Loan Draw — The loan draw feature allows developers and construction companies to draw funding from construction lenders and partners. The loan draw workflow design allows for partial submissions/approvals of both invoice amounts as well as expenditures recorded through Journal Entries. Loan draw tracks what is paid and is already drawn from lenders as well as amounts remaining for funding purposes.
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