For instance, software might have dozens of listed accounting features, but only a few are useful for construction-related tasks. You naturally plan to grow your business with time, so why not plan for your accounting solution to do the same? Some construction accounting solutions offer limited scalability, meaning you’ll be forced to make do or make the switch eventually.

• That said, Enterprise is ideal for contractors handling multiple projects across different regions or those operating with different subsidiaries.
• Vista cuts across the whole organization and has solutions for all the different departments in your business, including project management, human resources, service management, and accounting.
• Most typically start at $200 per user per month, potentially even extending into the four-figure per month range.
• It is a cloud-based solution that can help you scale your business by having the right data at your fingertips.
• But software has come a long way, and the right accounting tool can turn the job from painful to painless.
• That includes things like job costing, change order tracking, and progress billing.
• Unfortunately, it took a hit in the pricing, ease of use, and mobile app criteria.

We have plans starting at $49/month

Few apps can boast the depth or breadth of functionality that QuickBooks can offer — or the expansive list of integrations such an industry mainstay brings to the table. In many ways, QuickBooks can more fully meet the needs of enterprise-level construction organizations than many other solutions. Success in the construction industry depends on a lot of things—accurate projections, quality work, timely delivery, and a strong professional reputation, to name a few.

• So it only makes sense to consider this task when choosing a software option for you.
• You’ll find that you can easily simplify financial processes using the automation.
• This software platform is best for contractors seeking detailed bids from subcontractors and vendors to have the most comprehensive preproject data.
• If it’s not reimbursed quickly enough though, it can cause a domino effect of cash flow problems.
• A surefire way to lose out on project profitability is to do work you’re not paid for.

What specialized features are found in construction accounting software?

Integrations include QuickBooks, Square, ClockShark, CompanyCam, Billd, Fundbox, Lendflow, Permits.com, and more. Also integrates with Zapier, which allows you to tie in hundreds of 3rd party apps. Integrations include QuickBooks, Sage, Viewpoint Vista, Yardi, Acumatica, PeopleSoft, Xero, and 400+ other apps. Another key feature of Procore is that all data is standardized and easily searchable, helping to reduce miscommunications and errors due to manual entry. Staff in the office and in the field are all on the same page with real-time updates. Learn how we stay transparent, read our review methodology, and tell us about any tools we missed.

Expenses

For start-ups and smaller businesses, general accounting software can be a great choice due to its affordability, ease of use, and scalability. This feature ensures that projects stay on-track and within budget, allowing you to make decisions based on a full view of the company’s financial health. With repetitive, time-consuming tasks, human error is a common problem — but one with serious consequences. Finding the best accounting software is a critical component of your business.

• With a solid set of features and a fair pricing structure, this software is another great pick for start-ups and smaller teams.
• That includes things like drawing and document management, inventory management, project management tools, billing, and potentially even tasks like payroll.
• Additionally, PENTA includes an advanced labor management module with automatic David-Bacon work calculations and rate tables for fringe benefits.
• Aimed at smaller construction teams, Sage 100 Contractor provides many of the same benefits and tools included in its larger offerings.
• Buildertrend offers unlimited document, photo, and video storage in all plans.

Aside from integrating with accounting software and ERP systems, other must-haves include eSignature services like DocuSign, cloud-based file sharing services like Dropbox, and payment processors like Square. Pre-built integrations include various 3rd party applications like Autodesk, Bluebeam, Comdata, DocuSign, Kofax, and PlanGrid. CMiC also offers API bundles for CRM, estimates and budgets, payroll processing, and other tasks. Standout features include the ability to organize, store, and retrieve a wide range of construction-related paperwork. Its APFlow feature allows supervisors and managers to review, approve, and process these documents digitally—in the field or from the office.

Near-Instant Invoicing

Construction-specific accounting software caters directly to the unique needs of construction companies, offering specialized features that address the industry’s challenges and complexities. With invoicing, payments, tax management, reporting and expenses tools, QuickBooks is great for those looking for a simple and cost-effective solution for their financial management needs. These platforms typically include functionalities such as invoicing, expense tracking, payroll management, and financial reporting. General accounting software encompasses popular, non-sector-specific solutions like Xero and QuickBooks. This software offers a range of features to manage accounting tasks efficiently. CVR reporting is pivotal for some construction companies as it provides a comprehensive view of project performance.

More Profitable Projects

Our ratings consider starting price and the overall price range for all software tiers as well as the depth and number of available features, customer reviews and a deep dive by our experts. The first step to building more accurate accounting processes is recognizing that construction accounting is different. It’s definitely a mindset shift, but the good news is, no matter what kind of contractor you are, your construction firm’s needs are going to look pretty much the same. It’s how (and how much) you lean into practices like WIP reporting and job costing that will ultimately begin to move the needle for you.

Accounting software isn’t just meant to track expenses and manage ongoing project costs. It’s also designed to help fortify your bidding strategy so that you can earn the jobs you want to do at rates How Construction Bookkeeping Services Can Streamline Your Projects that are feasible for both you and your clients. Your construction accounting software will help you solidify winning bids and control your budgets to boost profitability. Access Coins is a cloud-hosted financial management software that is tailored specifically to the needs of the construction industry. FreshBooks Payments is a complete e-invoicing solution for your construction company.

Consider which apps you use already, and keep an eye on software with integrations. To record a construction cost, debit the construction in the process column and credit the cash column. Maintaining a healthy business also means learning how to correctly recognize and report your revenue.