Are you looking for some of the best accounting software for construction companies? If so, you are in right place. Our experts have come up with some of the best software for construction businesses on market. They will allow you to manage your company and make it more efficient and strong. These business management tools will give you full control over your company and financial process.
There are various methods of implementing construction accounting software. Selecting the appropriate software for your business is important.
The article provides information on small construction business accounting software and the best construction accounting software. Read this article to find out more about selecting the right construction accounting software.
Sage 100 Contractor
Best overall accounting software for construction. Sage 100 Contractor established itself as a popular choice among contractors under its former name of Sage Master Builder. Contractors using the less feature-rich accounting package Sage 50 (formerly Peachtree Accounting) migrated to Sage 100 Contractor to take advantage of the enhanced estimate and job costing ability. Additionally, contractors find Sage 100 Contractor reasonably priced.
Jonas Premier
Jonas Premier is part of the Jonas Construction Software company, founded in Canada in 1990 as a way to build a better-integrated construction software solution and is now a division of Constellation Software, Inc. It’s used throughout North America by construction companies, land developers, home builders, and general contractors.
It’s cloud-based and the accounting software can be used by multiple companies and divisions to allocate revenue and expenses between jobs. It also includes a customizable management dashboard that can be used differently by various types of contractors such as HVAC, plumbing, electrical, and more.
Jonas Premier features include:
- Granular reporting
- Complete audit trails
- Multiple accounting periods open
- Multi division and multi-company accounting
- Accurate real-time reporting and tracking with general ledger accounts receivable and payable
- Automated workflow
- Job and dispatch scheduling
- Job costing
- Document, inventory, and equipment management
It also offers payroll and union reporting features including federal remittances and year-end reporting and can be integrated with apps including Plangrid, Contigo, Microsoft Project, and more.
No bookkeeping experience is required to use Jonas Premier and there is an unlimited free training, videos, webinars, and eBooks available to help you get set up.
Pricing for Jonas Premier is as follows:
- Implementation fee: Starts at $20,000 and includes one-on-one training sessions for six weeks, unlimited group training and unlimited support, designated account manager, and unlimited document storage
- Monthly: $199/concurrent user/month with month-to-month commitment
- Annually: $189/concurrent user/month with an annual commitment
- No hidden fees and everything is included
We chose Jonas Premier as our best overall construction accounting program because of its longevity in business, it specifically caters to the construction industry, and the accounting software is full of robust, easy-to-use features that are available on the go.
PENTA Construction Management Software
Best accounting software for large contractors or construction companies. For construction companies performing large projects like industrial or utility construction, the most feature-rich option is PENTA Construction Management and ERP software. With a robust Oracle database backend, PENTA offers a unified alternative to oversee accounting and payroll and equipment and inspection management. However, this software’s price and management overhead mean investing in PENTA should not be entered into lightly by any company despite its size.
CMiC
A computer software company founded in Ontario, Canada in 1974, CMiC provides enterprise software for construction companies, general and specialty contractors, heavy and highway contractors, and project owners. It’s used by family-owned businesses and national-scale enterprises and is specifically built for the construction industry. You do not need any accounting knowledge to use it.
It offers full payroll services including employee life cycle management, talent acquisition, human resource management, payroll, and employee self-services. It works well with other systems and can be used with pre-built integrations, API bundles, integration adapters, and project and financial data can be shared across systems. Revenue and expenses can be allocated to specific projects and individual companies. CMiC can also help with scaling your business and changing management teams.
Features of CMiC include:
- Budgeting
- Corporate and project forecasting
- General ledger
- Accounts receivable and accounts payable
- Monitor cash flow and optimize spending tools
- Automated financial controls
- Corporate risk management
- Asset management
- Enterprise planning
Pricing is available upon request and is dependent on features needed, type of company, construction business volume, and more.
CMiC is our choice for runner-up to the best overall construction accounting software program because of its long track record in the industry, robust feature offering, and because it is tailored specifically to the construction industry.
FreshBooks
Powerful, versatile, yet easy to use, FreshBooks is a leading finance and accounting software that has gained traction and application across multiple industries all over the world. For the construction industry, it provides a strong suite of core functionalities that include accounting, time tracking, invoicing, and reporting. It provides a robust mobile implementation so you can communicate with clients even when you are out somewhere on current project sites.
The time and expense tracking tools, built-in among FreshBooks features, let you create accurate invoices, billing, and collect payments via multiple channels conveniently. FreshBooks accounting and tax handling ensure compliance with state requirements. It automates many processes, including expense organization, time tracking, and customer follow-ups, so that you will have more productive time on your hands.
Additionally, FreshBooks lets you create professional-looking estimates and invoices showcasing your brand. Collection and online payment can be made through methods preferred by your clients, eliminating the chance of you chasing that elusive check from your clients.
Why use FreshBooks for your construction business?
- Match expectations with accurate estimates. Minimize project proposal rejection with realistic estimates that easily resonate with the expectations of your customers, especially long-time clients.
- Stay on the same page with clients any time, anywhere. FreshBooks relies on its strong mobile implementation to give you confidence in communicating with your clients from just about anywhere you are at any moment.
- Collaborate with on-field teams, contractors, and even clients. Never miss costly details by sharing key information online and having all the people involved stay on the same page throughout the life of projects.
- Never lose on any billable time. Every minute of work is precisely tracked and reflected on your records, so you won’t wonder where all those work hours of your personnel have gone.
- Receive timely payments. With FreshBooks’ multiple online payment options, you won’t have to worry again about how your clients will be able to pay you.
Knowify
Best cloud-based accounting software for small to midsize contractors or companies. Knowify is an ideal cloud accounting solution for small to midsize construction businesses, especially those without the staff or infrastructure to run software on-premises. Since it’s a cloud-based option, it allows users to update and manage everything from timecards to invoices in real-time as long as they have access to a Wi-Fi or a cellular network. Knowify also offers a reasonable monthly rate, making it an ideal option for small contractors.
Buildertrend
Buildertrend was founded in 2006 in Omaha, Nebraska as a better way to manage construction projects. It’s used by builders, commercial and specialty contractors, construction companies, and remodelers around the world.
Buildertrend can be integrated with QuickBooks, Excel, Dropbox, Facebook, and more of your favorite apps. The software includes a pre-sales process, project management, accounting tools, and customer management including support and training.
Other features of Buildertrend include:
- Automatically generating line item invoices
- Lien processing
- ROI calculator
- Accept online payments
- Compare estimate vs actual
- Use the app to track finances on the go
- Purchase orders
- Time clocks
No accounting experience is necessary to use the software.
Buildertrend doesn’t have as many robust accounting features as some of the other options, so we recommend integrating it with QuickBooks, Xero, or your own accounting software. You also need to integrate it with a payroll company because it doesn’t include payroll features.
Pricing is as follows:
- No contracts, month-to-month pricing with a 30-day money-back guarantee
- Unlimited users and unlimited jobs with tiered pricing
- Core: $99 per month for the first two months and $299 per month thereafter; includes financial tools, streamline project management, budgeting, and communication with employees and clients
- Pro: $299 per month for the first two months and $499 per month thereafter; includes all of the Core accounting tools plus more than a dozen advanced features, such as advanced reporting, custom branding, and QuickBooks integration
We chose Buildertrend as our best construction accounting software for beginners because it is easy to use for companies of all sizes and bookkeeping levels. It also offers onsite training, online webinars, and customer support.
Conclusion:
So, you’re looking for the best free Construction Accounting Software? We all think about having our own small business construction company at one point or another. Sometimes the reason is a necessity – we find ourselves in need of a steady income to support our family or pay off debt. Other times its pure ambition, wanting to strike out on our own and take control of our own success.
Running your own company offers you personal satisfaction, low-stress levels, and flexibility in lifestyle. Especially if you are an entrepreneur who enjoys challenges, working for yourself can help satisfy you every day.