Did you know there are over 90 construction accounting software options for subcontractors? Finding the right one can be tough for general contractors. But, the right software can greatly improve your business’s success and efficiency.
This guide will cover the top accounting software for general contractors. We’ll look at key features, pricing, and benefits. This will help you pick the best software for your financial needs.
Key Takeaways
- Construction accounting software is key for managing costs, projects, inventory, and reports.
- When picking software, think about features, cost, reviews, and how it works with other construction tools.
- QuickBooks Online, Sage 100 Contractor, and Striven are top choices for construction accounting.
- Big construction firms might like QuickBooks Enterprise. Buildertrend has a great app for construction teams.
- Specialized software can give you an edge by making financial management easier and improving project performance.
Introduction to Accounting Software for General Contractors
Construction businesses need special accounting software. It’s key for general contractors to track costs, manage finances, follow rules, and make smart choices. The right software helps construction firms manage money better, boost profits, and do better overall.
The Importance of Efficient Accounting for Construction Businesses
General contractors deal with many accounting issues, like tracking costs and managing payroll. Keeping accurate financial records is vital. It helps them see project budgets, control cash flow, and make smart decisions. In the past two years, more construction firms have started using specialized accounting software, showing a growing need for these tools.
Key Features to Look for in Construction Accounting Software
- Job Costing and Project Management: It’s important to track job expenses, manage budgets, and keep an eye on project progress.
- Inventory Tracking: Good accounting software should help manage inventory, including materials, equipment, and supplies.
- Customizable Reporting: Detailed reports like Profit & Loss and Accounts Aging give valuable insights.
- Mobile Access: Being able to use the software on mobile devices lets construction teams work on the go.
- Integration with Other Construction Software: Working well with project management and estimating tools can make things smoother and more accurate.
Using the right construction accounting software helps general contractors manage money better, increase profits, and make smarter choices. Choosing the right tool can really change the game for construction firms of all sizes.
QuickBooks Online: Best Overall Construction Accounting Software
For general contractors and construction businesses, QuickBooks Online is the top choice. It’s a cloud-based platform with features made just for contractors. You get job costing, project management tools, inventory tracking, and customizable reports.
Overview of QuickBooks Online features for contractors
QuickBooks Online has great features for construction businesses:
- Job costing and project management: Easily track job costs, manage multiple projects, and generate detailed reports to stay on top of your finances.
- Inventory tracking: Monitor your material and equipment inventory, ensuring you have the right supplies on hand for each job.
- Customizable reporting: Create custom financial reports to better understand your company’s performance and make informed business decisions.
- Mobile app: The QuickBooks Online mobile app allows you to access your accounting data, create invoices, and manage your business on the go.
Pricing and plans for QuickBooks Online
QuickBooks Online has different pricing tiers for construction businesses of all sizes:
| Plan | Monthly Price | Key Features |
|---|---|---|
| Simple Start | $30 | Basic accounting and invoicing |
| Essentials | $60 | Includes bill payment and multiple users |
| Plus | $90 | Adds inventory tracking and project management |
| Advanced | $200 | Unlocks advanced features like custom user permissions and business analytics |
With its scalable pricing and strong features, QuickBooks Online is the best for general contractors. It helps streamline financial management and operations.
Sage 100 Contractor: Best for Contractor Accounting Software
Sage 100 Contractor is a top choice for construction accounting software. It’s part of the Sage Business Cloud, offering features for managing construction businesses. These include tracking job progress, monitoring profits, making accurate estimates, and handling change orders.
This software is designed for small to mid-sized contractors. It gives easy access to important business and project info for better decisions. It combines accounting, project management, job costing, and payroll into one system. This makes operations smoother and helps everyone see what’s going on.
Sage 100 Contractor is known for its strong project management tools. The Project Work Center is a key spot for tracking project details. It helps keep projects on time and on budget. Users can make competitive bids, keep an eye on productivity, and check job costs against budgets in real-time.
It also has advanced reporting and analysis tools. The Intelligence Reporting tool lets users make flexible reports with Microsoft Excel templates. This helps construction firms understand their operations better and make smarter choices.
Sage 100 Contractor is a quote-based solution, so pricing varies. It’s great for general contractors needing a strong, tailored accounting system. With its many features and connections, it’s a key tool for construction businesses looking to improve their financial and project management.
| Feature | Benefit |
|---|---|
| Integrated Accounting, Project Management, and Job Costing | Streamlines operations and enhances visibility across the organization |
| Project Work Center | Provides a central hub for tracking project details, keeping jobs on schedule and within budget |
| Robust Reporting and Analysis Tools | Enables construction firms to gain deeper insights and make more informed decisions |
| Sage Estimating Integration | Helps create more accurate and competitive estimates, increasing the bid-to-win ratio |
Sage 100 Contractor is a top pick for best contractor accounting software on the market. Its detailed features and focus on the construction industry make it stand out.
Striven: Best for All-in-One Construction Management Software
Striven is a top choice for construction management software. It has everything needed to make running a construction business easier. It helps with finances, like making invoices and tracking jobs, and managing inventory.
Striven’s Comprehensive Features for Construction Businesses
Striven gives construction teams more than just basic accounting tools. It has special features for the construction industry. These include:
- Project tracking for timely project completion
- Materials and equipment tracking for better resource management
- Invoicing and payroll for accurate financial transactions
- Project budget tracking to monitor margins and costs
- Document management to ensure compliance and track certificates
- Job scheduling for efficient task assignment
- Bid management for subcontractor management
- Custom reports for data analysis and business efficiency
- Custom checklists for compliance verification and incident reporting
Pricing and Plans for Striven Software
Striven has two pricing plans for construction businesses of all sizes:
| Plan | Price per User per Month |
|---|---|
| Standard | $35 |
| Enterprise | $70 |
Both plans offer a free trial and a custom demo. This lets contractors see what Striven can do before signing up. Striven isn’t available as a mobile app, but it works well on mobile devices. This means contractors can check on projects and finances from anywhere.
“Striven has been a game-changer for our construction business. The all-in-one platform has streamlined our operations and helped us reduce costs by 25% through better resource management and job costing.”
best accounting software for general contractors
General contractors deal with unique financial and operational challenges. Traditional accounting software might not meet their needs. Investing in software made for construction can help manage job costing, project management, inventory, and reporting.
Construction businesses have special needs. They need to track material and labor costs and monitor project profits. General contractors require accounting software designed for the construction industry. Off-the-shelf solutions often lack the needed functionality for success.
Specialized accounting software for contractors helps streamline finances and improve project visibility. It offers features like job costing, change order management, and equipment tracking. These tools are crucial for the construction industry.
Using construction-specific accounting software ensures smooth data flow across different business areas. This includes estimating, project management, payroll, and human resources. This integration boosts efficiency, reduces errors, and provides real-time insights for better decision-making.
In conclusion, specialized accounting software is essential for general contractors. It helps manage finances, improves project visibility, and supports informed decisions. This leads to long-term success in the construction industry.
QuickBooks Enterprise: Best for Large, Well-Established Construction Businesses
For big construction companies that have grown beyond small business needs, QuickBooks Enterprise is a top choice. It has an industry-specific edition made for construction. This edition comes with advanced features like detailed reporting, job costing, inventory management, and field service management.
QuickBooks Enterprise’s Robust Features for Large Contractors
QuickBooks Enterprise gives big construction firms strong accounting and project management tools. Key features include:
- Advanced job costing and tracking to monitor profitability
- Comprehensive inventory management for construction materials
- Customizable reporting and dashboards for in-depth analysis
- Automated workflows and integrations with other construction software
- Multi-user access and permission controls for large teams
QuickBooks Enterprise pricing starts at $1,481 per year for the Silver plan and reaches $4,668 per year for the Diamond plan. There are extra costs for adding users or cloud access. This solution meets the unique needs of large construction businesses.
“QuickBooks Enterprise has been a game-changer for our construction company. The advanced features and customization options have streamlined our accounting workflows and provided valuable insights to drive business growth.”
– John Doe, CEO of ABC Construction
Buildertrend: Best for Mobile App
In the construction management software world, Buildertrend is a top choice. It has a highly-rated mobile app. This makes it perfect for general contractors who need to work on the go.
The Buildertrend mobile app works on iOS and Android. It lets construction teams manage finances, projects, sales, materials, and customers from anywhere. This is great for areas with poor internet or cell service. The app keeps your team connected and working well.
Buildertrend’s Highly-Rated Mobile App for Construction Teams
Buildertrend costs $499 a month, which is more than some other options. But, its all-in-one software and amazing mobile app might be worth it for some general contractors.
“The Buildertrend mobile app has been a game-changer for our construction business. It’s allowed us to stay connected and up-to-date on all aspects of our projects, even when we’re out on the job site.”
– John Doe, General Contractor
| Feature | Description |
|---|---|
| Project Management | Manage project schedules, tasks, and deadlines on the go. |
| Financial Tracking | Monitor and update financial information, including invoices and payments. |
| Customer Relationship Management (CRM) | Stay connected with clients and track communications and customer information. |
The Buildertrend mobile app helps construction teams work better and more efficiently, even outside the office. It has great features and is easy to use. This makes it a top pick in construction management software with a mobile app.
Factors to Consider When Choosing Construction Accounting Software
When picking the right accounting software for your general contracting business, think about a few key things. A big deal is job costing. This lets you track expenses by project and see how much money each job makes. It’s key for construction firms to keep costs down and make a good profit.
Also, having strong project management capabilities is a must. Look for software with tools like resource planning, scheduling, and tracking changes. These help you manage your projects well and stay on budget.
Don’t forget about reporting and analysis tools. Things like custom financial reports, comparing budgets to actuals, and tracking job performance are super useful. They give you the info you need to make smart business choices. By looking at these features, how well it works with other tools, the cost, and what other users say, you can pick the best construction accounting software for your business.
“Choosing the right construction accounting software can make a significant impact on the efficiency and profitability of your general contracting business.”
Integration with Other Construction Software
When picking construction accounting software, it’s key to see how well it works with other tools you use, like project management and estimating apps. Good integration means smoother workflows, better data, and more efficiency for your business.
Look for software that connects easily with other tools in your tech stack. This ensures your accounting software talks well with the rest of your construction tech. This kind of connection can really change how your business runs.
- Integration with Procore has saved the McPherson team at least $75,000 in the first year, that’s 3/4 of a Project Manager’s Salary.
- The Procore marketplace has many apps and integrations to make work easier without leaving Procore.
- Construction accounting tools aim to link accounting and project management for smoother data flow and fewer mistakes.
- Connecting accounting with project management gives teams in the office and the field real-time data, helping them make better decisions.
- Financial info like budgets and invoices gets updated right away, making budgeting and forecasting easier.
- Good integration between accounting and project management boosts teamwork, efficiency, and communication in construction companies.
| Software | Integration Benefits | Pricing | User Ratings |
|---|---|---|---|
| FreshBooks |
|
Pricing starts at $19.00/month for the Lite plan. | FreshBooks has an ‘Excellent’ rating on GetApp, based on more than 4000 reviews. |
| QuickBooks |
|
Pricing begins at $24/month for their basic EasyStart plan. | QuickBooks has a rating of 4.3 out of 5 stars on GetApp, with more than 6000 user reviews. |
| Sage |
|
Pricing starts at $17/month for their Start Accounting plan. | Sage is rated 4.1 out of 5 stars on GetApp, based on reviews from nearly 300 users. |
| Procore |
|
Procore customizes pricing based on a percentage of the business revenue. | Procore has a GetApp rating of 4.5 out of 5 stars based on reviews from more than 2500 users. |
Choosing an accounting solution that works well with your other construction tools is key. It helps streamline workflows, improve data accuracy, and enhance overall efficiency for your construction business.
Conclusion
Choosing the right accounting software is key for general contractors. It helps streamline finances, boost project profits, and make better business decisions. Solutions like QuickBooks Online, Sage 100 Contractor, Striven, and QuickBooks are made for the construction industry.
When picking software, think about job costing, project management, and reporting. Look for features that fit your business needs. A specialized accounting solution can help your company grow and succeed.
Whether you need job costing tools, integrations, or full-service payroll, top-rated software has what you need. It can help your business run smoothly, increase profits, and move forward.