Accounting Software Vulnerabilities: A Wake-up Call for Construction Companies

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. 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. 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. 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.

Subcontractor management

INTERAC Construction Accounting offers strong job costing and management capabilities. It provides subcontractor control and service billing modules tailored explicitly for general and specialty contractors. For heavy contractors, it includes equipment cost and equipment manager tools, along with an inventory control system. Sage 100 Contractor includes construction-specific features like project management tools, a report writer wizard, and equipment management. Its estimating and budgeting functionalities help manage budgets and completion of bids, while the scheduling tool automates subcontractor and supplier notices. Ultimately, it’s a comprehensive system that contractors can install on many different configurations, including stand-alone, network servers, and workstations.

1. 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.
2. 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.
3. The first is more entry-level software for subcontractors, contractors, and smaller construction companies.
4. Terms, conditions, pricing, features, service and support are subject to change without notice.
5. For a company with a lot of employees and subcontractors to keep track of, I recommend Foundation for its extensive payroll and timekeeping features.

The software makes invoice routing easy and conveniently reconciles things with the GL when paid. This software platform is best for contractors seeking detailed bids from subcontractors and vendors to have the most comprehensive preproject data. RedTeam is a company built out of a commercial construction firm, so it understands the needs of a construction company intimately.

Be prepared for tax time

Metadata enables tracking, allowing you to see when a report is sent, opened, printed, clicked, or responded to. Procore is one of the biggest names when it comes to construction-specific accounting and project management tools. It can handle enormous amounts of data and large file sizes, but can still work for small contractors that are just starting out. Procore is a great choice if you (or your IT team) need to customize your construction reports or project data in a certain way. Once you’ve narrowed down your list, the next consideration difference between a batch and an epoch in a neural network should be cost.

Compare the best accounting software for contractors

However, Sage 300 CRE is fairly limited compared to other construction ERP software. And its fairly broad audience means it doesn’t focus as specifically on contractors and construction companies. QuickBooks can be used as construction accounting software given the availability of invoicing, job costing, and reporting features. Construction companies looking to use QuickBooks for construction accounting must choose a version that includes QuickBooks Projects, which includes the job costing feature.

With its thorough one-on-one software training and dedicated account managers, it’s easy to get customer support exactly when you need it. 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 accounting cycle steps explained available features, customer reviews and a deep dive by our experts.

Sage 300 Construction and Real Estate (CRE)

Here are some additional questions that you might have when considering construction accounting software. When used properly (and chosen carefully), accounting software can transform your day-to-day routines, saving you time, money, and hassle and ultimately freeing you up to focus on what you do best. When browsing accounting software, we always recommend considering your business’s specific needs and comparing those against each software’s feature list. Making an informed decision sherita rankins female model profile goes a long way regarding something as important as your company’s financial health. Most users report having an easy time navigating and using the Foundation software for their usual needs.