This is best for contractors who are constantly at job sites who want a simple mobile app to use to manage and capture data that integrates immediately with the platform. See if you’re on track with the report designer that allows you to customize construction reports and financial statements. Conduct an audit of a project that will build a report easy for your certified public accountant (CPA) to digest and work from. When it comes to financials, the software offers bid management, change orders and purchase orders (POs). You can invoice clients and make payments directly from the app and monitor the budget to make sure you stay on track.

PENTA Construction – Best for Industrial Contractors

You deserve the best construction bookkeeping and ERP software for your business—and those steps will go a long way towards helping you find it. Accounting software for construction companies and contractors does more than help you pay bills on time and send batch invoices. Better record keeping via time tracking, material costs, change orders, and subcontractor contracts can also lead to a better ROI. Better insight provides a more complete view of operational plans and expectations.

Jonas Enterprise

1. This means you can get any detailed report that you can think of with just a couple of clicks, helping you manage all the project costs.
2. Construction accounting software can provide financial reporting that gives you better insight into your operations.
3. You don’t need an accounting background to create a system that’s customized for your exact needs and helps you make the most of your money.
4. Once you get the hang of it, it’s a breeze, but getting there can be tough.” – Emily W.

It can tell you what the real costs are versus the actual costs, the percentage of each job completed, cash flow and profitability. This cloud-based solution has a base of user interface (UI) customizations, custom workflows, search tools and collaboration features. The next function layer is the Procore analytics feature that works with the specialized app marketplace filled with third-party solutions that integrate with Procore.

For the construction industry, though, there are far too many quirks and details that most of the off-the-shelf tools can’t accommodate. Jason Ding is a seasoned accountant with over 15 years of progressive experience in senior finance and accounting across multiple industries. Jason holds a BBA from Simon Fraser University and is a designated CPA. Jason’s firm, Notion CPA, is an accounting firm with a business-first focus.

A construction accounting solution will focus more on reporting, financial statements, and job costing. This can sometimes be defined as any accounting solution designed to be used by a construction company. This will include the AP, AR, and GL features, along with job costing and progress billing capabilities. Deltek acquired ComputerEase in 2019, integrating the software’s field-to-office functions with the corporation’s project-based business expertise. We found this platform best for small to mid-sized companies, providing accounting, payroll, HR, project management, and reporting. With the availability of ComputerEase Cloud, users can now leverage its web-based platform for construction-specific accounting.

Features

The software also handles multi-entity consolidation, making it a strong choice for construction companies with different locations. Construction accounting software is any kind of online accounting solution that works for businesses in the construction industry. Exact features and specifics can vary, but it normally offers reporting, tax preparation, invoicing, and payroll tools. As one of the most popular types of accounting software for a construction company, many in the industry use QuickBooks for their needs.

Contractor accounting software honorable mentions

Develop POs and subcontractor costs to use in projects, so there are no unexpected costs that come up. Once you’ve planned a project, manage it with the general ledger (GL) and payroll features. The payroll module uses Davis Bacon wage rates and includes union fringe and state tax rates. CoConstruct is your partner in managing unlimited construction projects with its four-part software platform. The platform starts with preconstruction details that include a cost catalog, lead management and a causes effects and solution of depletion of natural resources section for proposals and contracts. When you’re done with the preconstruction phase, you move into project management, operations and financials segments of the software that work concurrently.

They also offer several integrations to help simplify the day-to-day responsibilities of running a construction business. Procore is solely dedicated to the construction industry, unlike the other software options on the list. It’s important to note that, while Procore does offer financial management tools and reporting, it’s more of a project management solution than a true accounting software. Depending on your needs, Procore may be all you need to keep your finances organized and trackable. It’s a well-known tool that does the job well, provided you have the budget to pay for their service.

Acumatica’s payroll solution is fairly flexible, catering to requirements like multiple unions, classes, complex wages, and benefits packages. Additionally, the software also provides tools for creating and tracking subcontract status, purchase orders, and budget comparisons. This helps automate project commitments and change order processes, helping to control cost overruns.