Top 5 Construction Accounting Software Options For Contractors

Running a construction business usually means you wear lots of hats. The sheer amount of work required demands you use the right tools in the office, just like you do on the job. 

Choosing the best accounting software for your construction company is crucial to your business. It adeptly handles things like tracking expenses, managing budgets, and maintaining tax records so you don’t have to spend your time tracking them manually.

What To Look For IN Accounting software

Choosing a construction accounting software package can be daunting, as there are many choices. During your search, use these criteria to narrow down your options:

• Easy to use. A user-friendly software system will encourage its adoption and make it simple to fold into your current processes. 
• Functionality. Make sure the construction accounting software offers features like job costing, budgeting, expense tracking, and financial reporting. 
• Customization. Find a software platform that can scale with your business as it grows. 
• Customer support. Your accounting software should come with helpful customer service. Options like additional training and problem resolution will save you headaches down the road. 

Related: Construction Contractors Ask: Is It Better to be Paid W-2 or 1099?

Our Top 5 Construction Accounting Software Tools

Deciding on which accounting software to use is an important decision. That’s why we narrowed down our 5 favorites, along with the pros and cons of each. 

#5 ViewPoint Vista

Viewpoint Vista is a construction-specific accounting and project management software that offers a wide range of features to streamline financial operations. It provides a general ledger, accounts payable/receivable, payroll, and equipment management. 

Pros: 

• User-friendly interface, which simplifies navigation and reduces the learning curve.
• Comprehensive accounting modules to handle every financial facet of your business
• Integration with other Viewpoint products

Cons: 

• Occasional system glitches
• Customer support can be improved
• Limited customization availability

#4 Procore

A popular cloud-based construction management software, Procore includes accounting functionality as part of its suite of features. It offers tools for budgeting, subcontractor management, and document control. 

Pros:

• Cloud-based, making it accessible for remote work
• Seamless project management integration
• Helpful collaboration and communication tools
• Easy to navigate, user-friendly interface

Cons:

• Accounting features may seem limiting if the company has advanced financial needs
• Not many customization options 
• Requires additional integrations for full accounting functionality

#3 Sage 300 Construction & Real Estate

Sage 300 is a comprehensive construction and project management software solution that offers robust features like project cost tracking, accounts payable/receivable, job costing, general ledger management, and total project visibility. 

Pros: 

• Advanced reporting and analytics features
• Seamless integration with other systems
• Scalability to accommodate growing businesses
• Job cost tracking for accurate project accounting
• Integration options for other business systems

Cons:

• A steep learning curve that can be time-consuming for new users
• Initial setup can be tedious
• Additional training may be required

#2 Quickbooks Desktop Contractor's Edition

If you want a powerful accounting software tailored specifically for contractors in the construction industry, this is it. With comprehensive tools for job costing, estimating, invoicing, and financial reporting, it’s an ideal choice for all sizes of contractor companies. 

Pros:

• Robust features tailored for construction contractors
• Highly customizable to meet specific business needs
• Strong integration capabilities with other applications
• Suitable for both small and large construction companies

Cons:

• Requires installation on a desktop computer
• Initial setup may be more complex compared to cloud-based solutions
• Limited remote access compared to cloud-based alternatives

#1 Quickbooks Online

Quickbooks Online is a cloud-based accounting software with numerous construction-focused features that serve small to medium contractors well. It gives users features for job costing, estimating, invoicing, and reporting. Quickbooks for contractors can help save time and increase productivity. 

Pros: 

• Allows for easy problem solving when you need assistance 
• User-friendly interface and ease of use, almost no ramp-up time
• Strong integration capabilities with other apps and business tools
• Efficient invoicing and payment tracking

Cons: 

• Certain features may be limited compared to the desktop version
• Not as suitable for larger construction companies with complex financial needs
• Potential performance issues with large volumes of data

Related: 9 Reasons You Should Choose a CPA Firm That Specializes in Your Industry

Investing in the right accounting software for your construction business is crucial. It will boost efficiency, increase organization, and save you time. Each pick on our list offers significant features that can be advantageous to your operations. The one that’s the best fit for you will depend on the size of your business and specific needs. 

Chaliff + Associates: Contractor Accounting Services in Memphis TN

If you’re looking to streamline your construction company’s financials, partner with a CPA specializing in construction. Chaliff + Associates is an experienced CPA for contractors. We can provide you with everything from small business tax strategies to outsourced bookkeeping to payroll, and more. 

If you want to stop worrying about your company’s accounting needs, schedule a call for a complimentary consultation.