Best Construction Accounting Software 2025

In other words, QuickBooks Desktop Enterprise’s contractor-specific plan will work for solopreneurs. But once your construction company starts to grow, you’ll definitely want to upgrade to a thorough ERP solution. You can https://www.bignewsnetwork.com/news/274923587/how-to-use-construction-bookkeeping-practices-to-achieve-business-growth create invoices, take payments online, and set a basic budget, but that’s it. The software integrates easily with QuickBooks Online or Xero (both of which are great accounting picks), but both add an additional monthly fee. Plus, Buildertrend starts at an affordable $99 a month—but for the first two months only.

Best ERP for Construction Industry

• This blog will explore the 10 best construction accounting software systems for 2025, highlighting their features to help contractors make informed decisions and streamline their financial operations.
• Foundation Software is a great choice for construction professionals who spend a lot of time on-site.
• From long term contracts and historically slow pay cycles to balancing costs in dynamic and unpredictable site conditions, there are a ton of factors that make financial management much more difficult.
• Get a dedicated account team to help you with problems and provide on-demand online training.
• The cost management component factors in labor and equipment costs along with needed materials and subcontractor bids.
• Customize your website with an easy-to-use site builder that’ll make your brand look professional and polished in no time.
• Buildertrend makes communicating with clients easy with messaging in the app and a client portal that allows clients to see where they are at in the process and be able to sign contract and scope changes.

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. CVR reporting is pivotal for some construction companies as it provides a comprehensive view of project performance. It allows your business to compare the cost of work to the value earned, enabling accurate forecasting and timely decision-making.

Sage Intacct Construction: Best for comprehensive accounting

For instance, when entering a daily log, you or your team can add files or photos and videos to verify important project details of completed projects. You and your team need a tool that fits the specific jobs you intend to use it for. You don’t use a cordless drill when you need a hammer, and you save the wood chisels for the jobs only chisels can do. So, take stock of the areas in your operation that are feeling the most pressure and the areas that can do without a digitized solution, then use that evaluation to guide your search.

• Consider which apps you use already, and keep an eye on software with integrations.
• Sage 100 Contractor includes construction-specific features like project management tools, a report writer wizard, and equipment management.
• Nearly half of all small businesses, however, do not currently employ an accountant or bookkeeper.
• If a particular customer or type of job consistently causes financial problems, you may need to update your company’s credit policy or put a better prequalification process in place.
• Examples of common reports you can generate using construction accounting software include standard financial statements like an income statement, balance sheet, and cash flow statement.

What is construction accounting software?

• Offering everything that Sage 100 and Sage 300 do plus cloud hosting, AI-powered accounting and analytics and a whole lot more, it’s no wonder why it’s the only AICPA-recommended solution in the space.
• Record electronic signatures for approvals and use the cloud-based document storage tool to keep everything you need one click away.
• Like so many of the tools used on the job site, the best software for construction finance is one that’s specialized to do the job.
• Specialized accounting software is available to help construction contractors manage their business finances and the various projects that they may be involved in.
• Navigating accounting for a construction project can often seem like a daunting and time-consuming task; spreadsheets and manila folders will only go so far.
• Construction accounting software pricing depends on several factors, such as the size of your business, how many total users you have, and what modules you want included.

Here’s my assessment of each piece of software that I chose for this list—plus what I think each one does best and what sort of construction company it’s best suited for. We evaluated our best contractor accounting software across seven major criteria, as discussed below. If you need to use the mobile app, then you’ll have to pay $50 per user, per month. I have several years of experience with writing about accounting software, including QuickBooks Online and Desktop, Xero, and FreshBooks. And the bulk of the people working on any crew or on any job site are, well, laborers. They expect a timely paycheck at the end of the pay period, preferably via the payment method of least resistance.

• The Advanced plan adds business analytics with Excel, the ability to manage employee expenses and the ability to batch invoices and expenses.
• Access Coins is a cloud-hosted financial management software that is tailored specifically to the needs of the construction industry.
• While joint checks and joint check agreements are common in the construction business, these agreements can actually be entered into…
• The financial reporting segment takes the same data from revenue management and compiles reports instantly for quick review.

The platform manages the construction bookkeeping request through the documentation provided by vendors. You’re able to then compare vendors side-by-side to make the most educated decision. RedTeam is a company built out of a commercial construction firm, so it understands the needs of a construction company intimately. This is one reason it has received several industry awards, including Software Advice’s 2021 Front Runner award and making Capterra’s Shortlist. Having this kind of system for every construction contract you take on is essential. Once in place, it will not only help you ensure your original estimate was correct but confirm you’ve accurately captured the scope of the project based on what you’ve bid.

Make smarter decisions about your work and business

From tracking budgets to eliminating financial siloes, ProCore can connect all areas of your business within one comprehensive EPR solution. The sales team will conduct interviews with your business to work with you to ascertain your needs, therefore finding the best-fit solution for you. With ERP, mid-to-top tier construction businesses can achieve greater control, scalability, and competitiveness in the market landscape. For start-ups and smaller businesses, general accounting software can be a great choice due to its affordability, ease of use, and scalability. 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 its user-friendly platform, it simplifies job tracking, provides financial transparency, and enhances collaboration, allowing businesses to stay organized and focused on growth. Effective cash flow management is crucial for construction companies to maintain financial stability and support ongoing operations. Construction accounting software offers tools for accurate invoicing, expense tracking, and payment management, ensuring timely cash flow and minimizing liquidity risks.

Project-Based Budgeting and Reporting:

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. Manage employees with a built-in time clock and store photos, videos and documents in the system for easy access. The first is the Essential plan starting at $199  for the first month, which then moves up to $499 per month. The Advanced plan starts at $499 for the first months, then increases to $799 per month.