Key outcomes

$65 million construction budget seamlessly integrated across two entities
$10-20K per month saved in accounting costs
0 manual data entry after implementation

Company background

Mackenzie Village, a large-scale residential development in Revelstoke, British Columbia, and its purpose-built construction arm, Revelstoke Peak Construction, overcame significant financial integration challenges by implementing Interfy’s OneCore.

This enabled seamless data flow between Procore and their accounting platform while maintaining audit-ready books across both entities.

The Challenge: Balancing Books Across Newly Created Entities

The unique setup presented several critical challenges:

• Difficulty separating financials between the developer (Mackenzie Village) and the contractor (Revelstoke Peak Construction)
• Manual data entry between project management and accounting systems
• Six months of historical data needing integration after implementing their project management platform Procore
• Complex tax implications requiring precise reporting across both entities
  

“Unfortunately we hadn’t split the company financials until six months in, when we finally got Procore onboard,” Michael explains. “This meant we had six months’ worth of costs to figure out how to pull into our construction company books.”

To integrate Procore with their accounting platform, Mackenzie Village chose Interfy’s OneCore, due to its ability to handle their specific requirements. “The clincher was the back-and-forth time input capability,” Michael notes. “It was the only integration software we found that met our needs while being cost-competitive.”

Interfy’s team went above and beyond, customising the solution to address Mackenzie Village’s challenges:

• Retroactively integrating six months of historical data
• Configuring the system to handle complex inter-company transactions
• Adapting the software to meet unique Canadian tax reporting requirements

1. Financial Clarity and Confidence

OneCore enabled Mackenzie Village to achieve perfect balance between Procore and their accounting platform, QuickBooks. “Now, everything in our Procore balances exactly to what we have in QuickBooks,” Michael shares. This accuracy is crucial for a project with a $65 million construction budget.

2. Streamlined Reporting for Stakeholders

The integration has simplified interactions with lenders, payment certifiers, and quantity surveyors. “We can pull all the reports they want to see. We can show balanced reports, left and right,” Michael explains.

3. Time and Cost Savings

While difficult to quantify precisely, Michael estimates significant savings: “The costs that would be incurred to bring in third-party organisations to oversee our finances would be very expensive and time-consuming. We’re saving $10-20K a month that would otherwise be spent on a third-party accounting company.”

4. Audit-Ready Books

The detailed transaction tracking provided by OneCore ensures Mackenzie Village’s books are always audit-ready, a critical factor for large-scale developments with multiple financial stakeholders.

5. Customised Tax Reporting

Interfy’s willingness to adapt their software for Canada’s specific tax requirements made all the difference. “We were able to navigate this through the help of Interfy’s Support Administrator Elaine, and having her team tweak the software for our unique requirements,” Michael notes.

Michael emphasises that Interfy’s support was crucial to their success. “The support has been absolutely incredible,” he shares. “Elaine and team were available as required and worked seamlessly with our team to ensure we resolved any issues.”

This hands-on approach included:

• Daily meetings when needed
• Adjusting background software at no additional cost
• Availability across time zones to suit Mackenzie Village’s schedule

With a solid financial foundation in place, Mackenzie Village is poised for continued growth. The OneCore integration provides the scalability and accuracy needed to manage their complex, multi-million dollar development with confidence.

For construction companies and developers facing similar challenges with multi-entity structures or complex financial reporting needs, Mackenzie Village’s experience demonstrates the difference that the right integration solution can make. By bridging the gap between project management and accounting systems, Interfy’s OneCore has helped this ambitious Canadian development create a robust financial framework for long-term success.