Construction accounting software platforms can help improve customer interactions and support processes, and streamline finance and accounting operations. With these tools, contractors and builders can focus on their projects. Let’s explore these top platforms that play an important role in an efficient and profitable construction industry.
Premier software is designed to empower excellence and fit real-world financial management needs. It is praised for its user-friendliness and seamless interconnectivity, eliminating the need to open multiple tabs.
Premier construction management software is highlighted as a game-changer for its efficiency and effectiveness in the industry. Among its features are: a detailed dashboard of your financial landscape across multiple entities for enhanced clarity and control. It also has Project Cost Forecasting which is essential for maintaining financial stability, preventing cost overruns, and managing cash flow issues. It includes tracking anticipated costs and reviewing monthly change orders. The Premier platform’s advanced controls for real-time job cost updates, invoice approvals, and change order management have been highly praised by the executive team.
The software aims to enable operational transformation, financial transparency, and improved processes for construction accounting firms.
Website: https://premiercs.com
Buildertrend aims to change construction management globally, while CoConstruct focuses on simplifying financial management for builders.
Buildertrend is an all-in-one solution for home builders, remodelers, and specialty contractors. It also offers personalized demos based on business needs.
Buildertrend aims to provide a comprehensive digital solution for modern builders, enhancing client experience and operational control. The platform offers material management with rebates, real-time expense tracking, digital analysis tools, easy online payments, and integration with financial and CRM platforms.
When it comes to Financial Management, the platform can track cash flow and manage budgets with precision, ensuring financial security for your business. It can also utilize digital takeoff software and templates for quick, accurate estimates to secure more jobs, and monitor change orders, invoices, and job costs to stay within budget for every project.
Website: https://buildertrend.com/, www.coconstruct.com
Foundation Software offers back-office tools designed specifically for the construction industry, with over 35 years of experience. With its specialized software and services, the company emphasizes long-term success for contractors, providing support to manage the business side of construction projects.
Foundation Software provides quality in-house support team with no automated responses.
Foundation simplifies complex payroll processes including prevailing wage rates, union fringes, and multi-state tax jurisdictions.The software also enables General Ledger Management, providing tools for tracking and managing ledgers.
Foundation offers control over company spending and accounts for committed project costs before they’re incurred. With its comprehensive reporting, it allows for the design and customization of various construction accounting reports and financial statements.
Website: https://www.foundationsoft.com/
The Procore construction management platform is a user-friendly mobile platform that is able to connect site and office teams in real time for efficient project management. Procore aims to deliver construction projects on time by letitng firms manage site diaries, inspections, and incidents in one place to minimize risks. Insights of your projects with integrated cost management can also be accessed real-time.
Procore also enables access to immediate expert support and maximize Procore’s potential with tailored training.
The software covers construction project phases such as: Preconstruction Coordination, Project Administration, Personnel Allocation, Economic Oversight, Operational Analytics.
Website: https://www.procore.com/
QuickBooks is cloud-based, allowing for easy access across various devices. This tool aims to simplify financial management and decision-making for small businesses.
QuickBooks allows users to generate reports and customize essential financial statements, including balance sheets and profit & loss statements, unlock insights and view sales trends and compare relevant figures over time, and collaborate with advisors for financial insights online.
Its subscription plans range from Simple Start, Plus, and Advanced, with prices and features.
QuickBooks also has promotional offers such as 50% off for 3 months and free 30-day trials for certain services.
Its Invoicing & Sales Tracking lets firms send custom invoices and track sales and expenses efficiently. Construction accounting firms can quickly view all outstanding invoices and customer debts.
Website: https://quickbooks.intuit.com/
Sage has been a trusted name when it comes to construction software for over 50 years, with more than 50,000 companies relying on their construction needs. Sage offers a a comprehensive suite of cloud construction software for contractors, developers, and property managers to manage construction projects and properties with accuracy, covering preconstruction, project management, and financial operations. The software helps manage subcontractor and vendor risks, and improves visibility, and facilitates real-time collaboration across project stages, improving operations.
Its specialized features includes AI-powered takeoff tools, real-time analytics, integrated job costing, and construction-specific payroll management. Sage provides a community platform for customers to connect, learn, and get support from product specialists and industry experts.
Website: sage.com
With Freshbooks, construction accounting firms can create and send professional invoices easily and use automated payment reminders to prompt clients for payment. Its double-entry accounting can utilize simple tools to track your business’s financial health, including profitability and cash flow.
FreshBooks lets companies track of expenses by snapping receipt photos, forwarding email receipts, and importing from your bank account.
The software lets firms log billable hours for multiple projects and ensure all time is accounted for in invoices, which is useful in construction accounting.
Additionally, FreshBooks offers a 30-day free trial without requiring a credit card and allows for easy cancellation anytime. It also provides specialized solutions for construction companies, including project cost calculation, financial reporting, and seamless integration with other apps. The platform emphasizes ease of use for both desktop and mobile users, with features like Mileage Tracker and a dedicated mobile app.
Website: www.freshbooks.com
Xero Accounting Software is a tool for small businesses, accountants, and bookkeepers, praised for its ease of use and time-saving capabilities.
Xero offers features that help users manage their finances and integrate with various apps for business efficiency. The software provides different pricing plans suitable for sole traders, growing businesses, and established companies.
Xero provides a user-friendly platform for small business accounting that is easily accessible. It allows you to view invoices, contacts, balances, and financial information all in one place online.
Xero enables collaboration with employees, bookkeepers, or accountants online, regardless of location.
Xero is designed to streamline accounting processes, ensure tidy bookkeeping, and simplify compliance for small businesses. It also offers the flexibility to connect with other apps and customize the software to fit your business needs.
Website: https://www.xero.com/
NetSuite provides a cloud-based accounting solution that enhances financial operations, tax management, and adherence to standards such as GAAP and SOX.
It has capabilities on managing, and viewing the status and details of different types of financial reports. The software allows real-time financial data access, enabling in-depth analysis and informed decision-making.
Netsuite also streamlines transactional financial processes like journal entries and reconciliations, offering monthly time savings for finance departments. NetSuite’s accounting platform seamlessly scales and integrates with additional modules, supporting business growth.
Website: https://www.netsuite.com/
Zoho Books as smart accounting software, offering a free plan with data hosted in the US data center, and a 14-day free trial and a demo premium account. Users can also customize templates, fields, and reports, and set up automated triggers for emails, notifications, and recurring actions.
The workflow in Zoho Books starts from creating an invoice either from the sales module or directly from the dashboard. Zoho Books allows the creation of different types of invoices, including recurring and retainer invoices. The platform allows team collaboration with role assignments and permissions, and includes customer and vendor portals.
Its features include multi-currency support, inventory tracking, project billing, and insightful financial reports.
Zoho Books is presented as an affordable and customizable alternative to other accounting software, with a focus on ease of use and integration with other Zoho applications.
Website: https://www.zoho.com
RedHammer is a service provider, with offices in Hawaii and Arizona, that offers operational guidance, system implementations, bookkeeping, job cost reporting, and advanced accounting solutions such as capital advisory and fractional CFO services.
Providing outsourced custom Construction Accounting Management Services with flexible contract options, RedHammer is fully capable of integrating the current operating systems or software listed above.
Overall, the company focuses on offering tailored accounting services to help you streamline your operations. Outsource Construction Accounting Services to RedHammer today.
