9 Best Construction Accounting Software Solutions for 2024

Before you can start your next construction job, first you need to find and secure it. CoreCon helps you handle leads, bidding, and other parts of the preconstruction phase with ease. Integrations include QuickBooks, Square, ClockShark, CompanyCam, Billd, Fundbox, Lendflow, Permits.com, and more. Also integrates with Zapier, which allows you to tie in hundreds of construction bookkeeping 3rd party apps.

Accounting, Finance, Taxes, & Payroll all in one solution

If you manage the finances for a subcontractor who’s still using Microsoft Word to create invoices and Excel to track expenses, it’s time to think about switching to software. Or if you’re using a generic accounting tool that’s no longer cutting it, you should migrate to a system that’s purpose-built for construction. The right tool will save you time and money, reduce accounting-related risks, and help you monitor the business’s financial health. Construction accounting software helps maximize margins by providing real-time insights into project costs and profitability.

Time Efficiency:

We encourage you to research and compare multiple accounting software products before choosing one. 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. Furthermore, the mobile app scored poorly because of its limited features—used only for receipt capture and mileage tracking.

Similar Accounting Software For Contractor:

These reports can identify which products are selling well and which ones may need some marketing efforts or price adjustments to increase their demand. This will allow you to easily track the frequency and amount of these transactions and properly adjust your financial records accordingly. To ensure the accurate recording of refunds/returns and chargeback expenses, you must have separate accounts for each.

• The Advanced plan is available for $117.50 per month for the first three months before increasing to $235 per month.
• Construction accounting software helps maximize margins by providing real-time insights into project costs and profitability.
• 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.
• Xero’s inventory management feature is another standout tool that allows businesses to track their stock levels, sales, and purchase orders in real-time.
• As one of the most popular types of accounting software for a construction company, many in the industry use QuickBooks for their needs.
• Job costing is most effective when conducted by your construction accounting software.

Acumatica is business management software serving the construction, manufacturing, retail, and services industries, among others. Unless I’m missing something, the app lacks one of the most basic needs of a business owner–basic financial reports. This seems almost unforgivable to be missing from a mature company like xero. Similar to QuickBooks Online, the Desktop platform handles accounting functions like billing, invoicing, tax deductions, payments, and more. However, QuickBooks Desktop is installed and run locally from desktop computers instead of operating from the cloud.

Success in the construction industry depends on a lot of things—accurate projections, quality work, timely delivery, and a strong professional reputation, to name a few. However, these essential traits of a successful construction business don’t end on the job site. If you can bring the same excellence to your accounting, you’ll begin to see the results of your growth firsthand.

• This is best for contractors who want clients to have access to cost data and project management oversight.
• Jonas Premier Construction Software is a feature-rich platform that offers an all-in-one solution for accounting, job costing, project management, and document management.
• QuickBooks Online provides profitability insights for each project in real time.
• Jason Ding is a seasoned accountant with over 15 years of progressive experience in senior finance and accounting across multiple industries.
• They also set new clients up with a call with one of their QuickBooks experts for a free, guided set-up.
• With in-depth reporting, custom dashboards, audit trails and asset management, construction companies can improve every aspect of their business’s financials improving the health of their company.

And Premier also charges an extra $25 per user per month to use its mobile app. 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. The platform automates accounts payable and receivables to provide real-time accounting data for all job sites and projects. It links invoices to purchase orders and subcontractor agreements, streamlining the approval process to save time and effort.

Integration Matrix for AP Software with Construction Accounting Systems

While COINS clearly has a lot going for it, it’s not as user-friendly as some other software options (most notably Jonas Premier). While customers like its clear dashboard and straightforward financial statements, COINS struggled to get users up to speed during its last update. Construction projects involve significant upfront costs, which require careful management and tracking to ensure profitability.