Top 7 Construction Accounting Software Platforms for Contractors

Many businesses struggle to stay afloat because they aren’t getting paid on time. Accounting software automates invoicing, tracks outstanding payments, and sends reminders to clients, helping businesses get paid faster and avoid cash flow shortages. With Ramp, construction companies can reduce their bank reconciliation time by 75%. Other notable features include its daily job site reports, in-app scheduling, and time management tools. Project management tools like time tracking and cost tracking are ideal for construction companies looking to come in on budget and on deadline. If you’re searching for a powerful yet easy-to-use construction accounting software program, look no further than FreshBooks.

Sage 100 Contractor – Best for growing businesses

Superior project outcomes are achieved through better data accuracy and the automation of routine tasks. For example, Estimator360 is known for its automated estimating capabilities, which streamline the process of material and labor cost calculations. One effective way to track expenses is to use accounting software specifically designed for construction companies. Programs such as Sage 100 Contractor and ProContractor by Viewpoint can help with everything from job costing to managing purchase orders. These programs can also help with tracking expenses by project, which can be especially useful for larger income summary construction companies.

• This allows for real-time tracking of materials, labor hours, and equipment usage, feeding directly into accounting systems for more accurate job costing.
• Another drawback observed was software stability, as frequent updates, while beneficial in enhancing features, sometimes introduced unexpected bugs for some G2 users.
• These apps provide real-time access to job information, schedules, and customer details, enabling technicians to manage tasks and update job statuses on-the-go.
• 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.
• Built specifically for commercial electrical contractors, BuildOps is an all-in-one operational solution which automates workflows between field and office.

Housecall Pro Key Features

• The implementation team helps map business processes and create optimized workflows that improve long-term results.
• Other similar software, like JOBPOWER, has an unintuitive estimate creation screen with too many fields to complete, and this can be confusing for new users.
• Lastly, I experienced a few performance issues, especially when dealing with large files and complex projects.
• While this is relatively user friendly, the look and feel of the interfaces might seem old fashioned for some younger construction business owners and contractors.
• 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.
• This helps you create accurate invoices for your clients, as well as identify inefficiencies or inaccurate estimates.

This consolidation streamlines procurement by automating workflows necessary for sourcing and purchasing materials. ProEst, for instance, partners with other technology providers to offer a complete platform, ensuring that project teams can work the way they want without leaving the platform. Choosing the right construction estimating software for your business starts with identifying your needs. Whether you are a small contractor or a large construction firm, understanding what you require from the software will guide your decision. Scalability is a critical factor; the software should be able to accommodate future growth in project volume.

• You certainly need interconnected estimating and quoting tools, invoicing features and time tracking software.
• The user interface and dashboards of AccuBuild might not be the most pleasant to navigate for your first few times, but surely you’ll manage eventually.
• While implementation is fast and the price is reasonable, there are missing features such as live dashboards which means fast-growing companies may grow out of Contractor Foreman quickly.
• Features include automated bookkeeping, invoicing, expense tracking, and tax preparation.
• It also streamlines project planning, communication, and financial management for construction professionals.
• For these needs, software like Planyard can integrate with QuickBooks to enhance functionality.

ServiceTrade

• The platform’s breadth and depth across its packages make it the best choice for small construction firms.
• Foundation Software is a construction-specific accounting platform that handles complex payroll, job costing, and financial reporting.
• Instead of relying on spreadsheets or manual tracking, contractors gain real-time visibility into project expenses, labor costs, and outstanding invoices.
• It works well for corporations, as well as small and medium-sized businesses.
• Accounting software automates expense tracking, categorizes costs, and alerts businesses to budget overruns, ensuring every dollar is accounted for.

Features include project cost tracking, automated billing, and real-time financial reporting, helping your team manage project budgets and performance. You can track labor, materials, and overhead expenses while the software automates purchase order management to streamline procurement. Acumatica also provides detailed insights into project profitability, keeping your financials in check. Advanced software should provide actionable insights into business performance through data visualization and customizable reports. Predictive analytics can forecast Coffee Shop Accounting future performance based on historical data, aiding in strategic planning.

This seamless integration ensures compatibility and enhances the overall estimating process. These software options can help construction companies manage their finances, track job costs, and create invoices. Additionally, many of these software options can integrate with other software, such as payroll software or project management software, to further improve efficiency. Rippling provides an all-in-one payroll and workforce management system that automates tax filings, streamlines payroll processing, and helps ensure multi-state compliance. Its robust integration with accounting and project management tools makes it a top choice for construction firms.

Learn how we stay transparent & our accounting software for contractors review methodology. With over a decade of experience working in construction software, Alex has worked with a number of Tier 1 international construction firms to aid their digital transformation. Choosing the right electrical contractor software is about finding construction bookkeeping a solution that aligns with the specific needs of your electrical contracting business, whether residential or commercial. To make an informed decision, you need to understand the core functionalities that will truly drive efficiency and profitability. By focusing on these key capabilities, you can ensure your chosen platform empowers you to streamline workflows, optimize resources and grow your business.