10 Best Construction Accounting Software + 2024 Pricing Guide

You can use these to make your bids and proposals look professional and really stand out from the competition, which should in turn help you to land more construction jobs. Easily integrate your FreshBooks accounting system with other apps and partners to simplify things like estimates, proposals, payroll, and inventory management. As a QuickBooks ProAdvisor, Mark has extensive knowledge of QuickBooks products, allowing him to create valuable content that educates businesses on maximizing the benefits of the software. Ease of use is an important factor, particularly if the owner or other nonaccountant will be keeping the books. I allocated extra credits to cloud-based construction accounting software, as I believe it is generally easier to use than locally installed programs. Furthermore, the mobile app scored poorly because of its limited features—used only for receipt capture construction bookkeeping and mileage tracking.

Best Construction Accounting Software (

Its project tracking solution tallies up labor time spent on projects and tasks. Each app has been thoroughly investigated and analyzed for users like you, with pros and cons, key features, integrations, and real user reviews. That’s why we compiled a list of the best construction accounting software to help you find the right solution for your business needs. Better record keeping via time tracking, material costs, change orders, and subcontractor contracts can also lead to a better ROI.

• The best construction accounting software must have essential bookkeeping features, such as A/P and A/R management, income and expense tracking, and financial reporting.
• If your construction business is growing quickly and you’re finding it hard to keep everyone on the same page, then CMiC is the software I recommend.
• All factors in our reviews are scored on a 10-point scale – technically 11 points – from 0-10.
• Standout features include its focus on project bidding and proposal data, which gives you the ability to create, compare, send, and store bids in a central place.
• Not every organization needs multi-company and inter-company features, but nearly every contractor needs a more effective way to price jobs, track expenses and measure profitability over time.
• Add to that robust expense digitization and interactive reports depicting granular business metrics from multiple angles.

In depth: Our top construction accounting software picks

There’s also COINS for extensive construction bookkeeping features, Buildertrend for great customer management, and Sage 100 Contractor for smaller contracting companies just getting underway. Construction accounting software can provide various financial reporting and analysis features to help you make informed decisions about your construction company’s finances and operations. Most construction accounting software on the market is intended to supplement, rather than replace, your existing accounting software. So first and foremost, it’s important to make sure that the option you choose will work with the accounting and finance tools you’re already using. Standout features include its focus on project bidding and proposal data, which gives you the ability to create, compare, send, and store bids in a central place. Larger construction companies can submit hundreds of bids per year, and CoConstruct can bring a lot of efficiencies to the process.

Can QuickBooks Be Used for Construction Accounting?

Time is money, after all, and time spent completing financial paperwork is time spent away from the job site. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. With over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag. To record a construction cost, debit the construction in the process column and credit the cash column. If you don’t want to make the annual commitment, the cost is $249 per month.

• His career has seen him focus on both personal and corporate finance for digital publications, public companies, and digital media brands across the globe.
• As an ERP, smaller businesses or start-ups will likely be unable to justify the larger upfront cost of such a system.
• In that case, your construction accounting software needs to be able to produce a schedule of values to help you track the running total.
• Learn how we stay transparent, read our review methodology, and tell us about any tools we missed.
• It took a hit in pricing because the one-time implementation fees are a bit expensive, especially for small contractors.
• The firm specializes in preparing personal and corporate taxation while providing fractional CFO work and leading the accounting and finance function for several small-to-medium-sized businesses.

You’ll need to engage with their team to get a price for their services, but you should expect it to be quite expensive compared to other options because they charge a percentage of your business’ revenue. This software is best for contractors who have multiple projects happening simultaneously. Deltek ComputerEase, formerly Construction Accounting by Computer Ease, is a software solution that tells you where each job stands in various ways. It can tell you what the real costs are versus the actual costs, the percentage of each job completed, cash flow and profitability.

Organize Your Books With Bookkeeping Services

• COINS’s software pricing isn’t listed online, so you’ll need to contact the company directly for a quote.
• Specialized software addresses these issues by centralizing financial management tasks, optimizing margins, controlling cash flow, and reducing administrative burdens.
• These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most.
• The payroll module uses Davis Bacon wage rates and includes union fringe and state tax rates.
• FreshBooks is a great choice for smaller businesses looking for an accounting software that is easy to use and low maintenance.

Tools like FreshBooks allow you to customize and upgrade your plan as needed to ensure you’re always ready to take on more work. We dug into 14 of the top construction accounting software platforms on the market and found these 10 to be the best. 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. CMiC provides innovative software and products to help construction professionals manage their business. Whichever construction accounting software you settle on, we recommend requesting a demo, grilling your customer service rep, and signing up for a free trial whenever possible.

Also, it has a mobile app for tracking time worked by employees, but the app lacks basic accounting features like invoicing and expense tracking. Many construction businesses prefer to manage as many aspects of employee labor activity as possible in a single app, which is why many time-tracking apps also include worker scheduling as a core feature. In conclusion, the best accounting software for construction contractors and companies needs to accurately track each job’s income and expenses to provide an accurate overview of profitability. Gusto develops web-based payroll solutions for small to midsize businesses. It also offers HR and employee benefits management tools, including hiring, onboarding, automatic savings, 401(k)s, and others. Sage Intacct is financial management software serving small to midsize businesses in the construction, financial services, healthcare, hospitality, and retail industries among others.

• Construction accounting is more complex than general accounting regarding sales, cost of goods sold, expenses, and breakeven.
• We found this platform best for small to mid-sized companies, providing accounting, payroll, HR, project management, and reporting.
• CMiC is a great fit for mid- to top-tier companies looking for a complete solution that brings together business management tools for all aspects of their business.
• It’s admittedly difficult to discuss financial software in nearly any vertical without mentioning QuickBooks or one of its companion tools in the Intuit family.
• It also keeps track of purchase orders and consolidates them into a single receipt or voucher.
• You’ll be able to streamline payroll administration making sure everyone is paid timely and correctly.
• So it only makes sense to consider this task when choosing a software option for you.

For more information about our star ratings process, see how we rate small-business accounting software in general. The best construction accounting software have essential bookkeeping features, like A/R and A/P management. They also have specialized construction management tools, such as https://www.inkl.com/news/the-significance-of-construction-bookkeeping-for-streamlining-projects job costing, project management, and construction billing. They are easy to use and provide users access to various customer support channels, like phone, email, and live chat.

Accounting software for construction and trades

Xero is cloud-based accounting software targeting small and midsize businesses in the construction, trade, retail, farming, and health industries among others. Jonas’ general ledger keeps track of all job, service, and equipment transactions and automatically posts them to appropriate divisions. The platform also generates customizable, user-defined reports for monthly, quarterly, annual, or any fiscal period.