Construction contractors can use specialized accounting software to manage their business finances and the various projects in which they may be involved.
The majority of these solutions include accounting features to help your business from the bidding process to invoicing.
This article investigated the best construction accounting software on the market today to assist you in finding the best solution for your company.
Construction accounting software can help you save time and stay organized when managing your construction projects.
Contractors can quickly move a project from the prework phase to the project management/building phase by integrating preconstruction parameters such as bidding and cost building.
Construction software evolves into a one-stop shop for everything from pricing to contracts to compliance.
This ensures that nothing falls between the cracks during the construction process.
Best Construction Accounting Softwares
Here are descriptions of the best five construction accounting software, namely:
STACK
STACK is web-based estimating software that provides comprehensive tools for all sizes of construction projects.
Its primary goal is to simplify the estimation process and accelerate the production of project proposals.
Estimating is time-consuming and taxing, and STACK’s goal is to cut estimating time in half so that more time can be spent running the business.
It’s a cloud-based service that provides general contractors and subcontractors with instant access to and adjustable takeoff and estimates.
STACK is designed to help users obtain accurate estimates of material quantity and quality, as well as pricing that is tailored to each construction need, such as general contracting, concrete, home builders, interior finishes, landscaping, masonry, mechanical, electrical, HVAC, plumbing, roofing, structural steel, and specialty trades.
Features:
- Reports on Takeoff
- Customizable
- Reporting in Real Time
- Estimating a Project
- Cost Calculation
EasyBuild
EasyBuild is a low-cost comprehensive software solution that assists construction companies in project planning and management.
This tool is designed for contractors and homebuilders of all sizes and includes a variety of features necessary for day-to-day operational requirements such as compliance, CVR, accounting, and more.
Its goal is to bridge the gap between office and field work.
EasyBuild has been recognized in the industry for its superior accounting and management capabilities, which combine the best features of Oracle and Microsoft at an affordable price.
Because the system is priced on a quote basis, you only have to pay for the features you truly require. Furthermore, the accounting function can operate independently or as part of an existing finance system.
Features:
- Accounting for Finance
- Accounting for Projects/Job Costing/CVR
- Payroll
- Management of Subcontractors
- Procurement
Methvin
Methvin is a platform for construction management that serves small, medium, and large businesses.
Businesses can use Methvin to quickly generate accurate and high-quality cost estimates and bid documentation.
This is made possible by the software’s ability to connect worksheets to various workflows, define specific variables, and divide processes into schedules.
As a result, it is an excellent tool for workflow management, cost estimation, and margin analysis.
Contractors and subcontractors can quickly access your documents to make submission and procurement decisions.
The feedback is then sent to your portal, increasing transparency and shortening the procurement cycle.
Not only that, but you also get a full overview of the materials and a 360-degree view of the entire procurement access.
Features:
- Estimation via the cloud
- Management of procurement and tenders
- Pricing administration
- Project administration
ProjectPro365
ProjectPro365 is construction accounting software that helps you and your team manage all aspects of your construction projects.
It assists you in avoiding unnecessary costs, inaccuracies, and blind spots that can jeopardize the success of your projects and jeopardize your client relationships.
From general contractors to plumbers and electricians, ProjectPro365 has features to meet the needs of a wide range of construction industries.
It is intended to assist project managers in forecasting and tracking costs, team leaders in managing equipment, and your team in keeping track of their schedule.
Features:
- Job Estimates and Proposals
- Purchasing and Procurement of Jobs
- Job Material Preparation
- Management of Subcontracts
- Timesheets
- Project Administration
- Billing for Projects
- Integration of Payroll
- Payroll Certification Report
- Change Orders and Contracts
Conclusion
When selecting a construction accounting software platform, you should take three factors into account.
The first consideration is cost, you want a platform that fits your overall budget and provides as much value as possible without the need for additional subscriptions or customized solutions.
The second factor to consider is ease of use, not only should you and your employees feel at ease with the system, but so should clients and subcontractors if you include them in the bidding and project management process. Look for a solution with a simple dashboard that allows you to access everything from the general ledger to reports with a few mouse clicks.
Finally, if you have specific reporting or processing requirements, you should look for a solution that can be customized. This may be relevant for larger companies that manage multiple projects concurrently and must generate comprehensive reports and cash flow data for stakeholders.
