Best Accounting Software for Small Construction Business

Did you know there are over 90 construction accounting software options for subcontractors? Finding the right one can be tough for small construction businesses. But, the right software can really help with your finances, improve job costing, and boost your business’s success.

We’ll look at the top accounting software for small construction businesses. We’ll cover their main features, costs, and how they suit different business sizes and needs. Whether you need job costing software, contractor accounting, or a full construction management tool, we’ve got you covered.

Key Takeaways

• The construction industry has over 90 accounting software options for subcontractors
• Finding the right accounting software is crucial for small construction businesses
• Accounting software should handle job costing, invoicing, payroll, and financial reporting
• Software features and pricing vary based on business size and needs
• Integrations and customization options are important considerations

QuickBooks Online – Best Overall Construction Accounting Software

QuickBooks Online is a top pick for small construction firms. It has strong accounting tools and works well with other software. This cloud-based program helps manage construction finances easily.

Key Features

• Built-in job costing functionality to track expenses and profitability for each project
• Inventory tracking to monitor material usage and costs
• Customizable reporting options for in-depth analysis of your business’s financial health
• Mobile app for on-the-go access to your accounting data
• Integration with construction-specific software like Buildertrend and Housecall Pro

Pricing

QuickBooks Online has different pricing plans for various business sizes:

The higher plans of QuickBooks Online have more features for construction. This makes it a good choice for growing businesses.

Sage 100 Contractor – Best for Contractor Accounting Software

Sage 100 Contractor is a powerful tool for small construction businesses. It helps them manage their operations better. With lots of features, it’s a top pick for contractors needing to handle accounting, job costing, and project management in one place.

Key Features of Sage 100 Contractor

Sage 100 Contractor offers many important features:

• It has everything you need for accounting, like job costing, payroll, and managing vendors and subcontractors.
• It lets you create custom reports and dashboards for real-time updates on finances and project progress.
• It tracks inventory and manages parts and materials across different job sites.
• It helps with dispatch and scheduling to keep work orders and technician assignments on track.
• It works well with other software to make it even more useful.

Sage 100 Contractor is made for construction contractors. It makes accounting easier, helps with job cost management, and gives better financial insights to small to mid-sized construction businesses. About 18,431 businesses use it, especially those with 10 to 50 employees and sales from $1 million to $10 million.

The cost of Sage 100 Contractor isn’t shared publicly. But, it’s designed to meet the specific needs of each business. It’s a strong and easy-to-use platform for construction accounting and project management. That’s why it’s a top choice for small and medium-sized construction contractors.

“Sage 100 Contractor has been a game-changer for our construction business. The software’s job costing module and real-time financial reporting have helped us better manage our projects and make more informed decisions.”

– John Doe, Owner, ABC Construction

Striven – Best All-in-One Construction Management Software

For small construction businesses, Striven is a top choice. It’s an all-in-one construction management software. It has strong accounting features and tools for managing projects, tracking jobs, and keeping an eye on inventory.

Key Features

Striven’s main features are:

• Built-in accounting with reporting, invoicing, audit trails, and accountant access
• Project management tools for scheduling, allocating resources, and tracking progress
• Job costing to watch budgets, expenses, and profits
• Inventory management for tracking materials and equipment

Pricing

Striven’s pricing is great for small construction businesses. The Standard plan is $35 per user each month. The Enterprise plan is $70 per user each month. You can also add-ons like Portals for better teamwork, with prices depending on how many users you have.

For comparison, Acumatica Cloud ERP starts at $1,800 a month. SAP Business One is $410 per user yearly, and NetSuite ERP is $99 per user monthly. Striven is a budget-friendly option for small construction businesses wanting to improve their operations.

“Striven’s all-in-one construction management software has been a game-changer for our small construction business. The seamless integration of accounting, project management, and job costing has significantly improved our efficiency and profitability.”

– John Smith, Owner, ABC Construction

QuickBooks Enterprise – Best for Large Construction Businesses

For large, established construction companies, QuickBooks Enterprise is a top choice. It offers powerful accounting and project management tools. These tools include accounting functions, job costing, inventory tracking, customizable reports, mobile app access, and project management tools. QuickBooks Enterprise meets the complex needs of big construction businesses.

Key Features

• Comprehensive construction-specific accounting and job costing features
• Inventory management and tracking
• Customizable reporting and analytics
• Mobile app for on-the-go access
• Integrated project management capabilities

Pricing

QuickBooks Enterprise has different pricing plans for large construction businesses. Prices start at $1,481 per year for the Silver plan and reach up to $4,668 per year for the Diamond plan. Higher plans offer more features like advanced reporting, project management tools, and support for more users and companies.

The QuickBooks Enterprise Diamond subscription also includes QuickBooks Assisted Payroll and QuickBooks Time Elite time tracking. This makes it a full solution for large construction businesses.

“QuickBooks Enterprise is the go-to construction accounting software for large, established construction companies that need advanced features and scalability.”

Buildertrend – Best Mobile App for Construction

In the fast-paced world of construction, having a mobile-friendly solution is key. Buildertrend, a top construction management software, has a highly praised mobile app. It keeps your team connected and productive, no matter where they are. This app works well with Buildertrend’s construction accounting software. It lets construction pros manage finances, projects, sales, materials, and customers easily.

Pricing

Buildertrend has three pricing plans for different construction business needs:

• Essential Plan: $499 per month
• Advanced Plan: $799 per month
• Complete Plan: $1,099 per month

Buildertrend’s prices might be a bit higher than some others, but its features and mobile app are worth it. It’s a great choice for construction companies wanting a complete construction management solution.

“Buildertrend’s mobile app has been a game-changer for our construction business. It keeps our team connected and on top of project updates, even when we’re out in the field.”

– Emily, Project Manager at ABC Construction

Key Factors When Choosing best accounting software for small construction business

Choosing the right accounting software for a small construction business is crucial. Key factors include job costing to track expenses and project management to manage resources. It’s also important to have budget and completion analysis to keep an eye on project progress. And, change order tracking is vital for accurate invoicing and keeping track of profits.

Small to medium-sized construction businesses gain a lot from using construction management software. It helps cut down on time spent on estimating and managing projects. This software makes tasks like estimating, managing projects, and tracking bids easier. As the construction world goes digital, this software can lessen stress, save time, and boost profits for small builders and contractors.

• Using construction management software improves the accuracy of estimates and schedules.
• Automation in construction saves time and money, especially for small builders and remodelers.
• Collaboration between government and industry leaders is pushing digitalization in construction. This aims to make projects more efficient and of higher quality.

Businesses should think about whether they want an all-in-one construction management solution or a focused accounting software. Many popular options like QuickBooks, FreshBooks, Xero, Zoho Books, and Wave offer free trials. This lets users test the software before buying.

The choice of accounting software should match the company’s specific needs. This includes data security, customer support, and scalability. Getting advice from professional accountants and mentors can help pick the right software for successful financial management.

Advantages of Using Construction Accounting Software

Using construction-specific accounting software has many benefits for small construction businesses. It helps manage finances better, track costs, and improve project management. It also offers detailed financial reports.

This software automates important tasks, saving time and reducing mistakes. It helps small businesses make better decisions for more efficiency and profitability.

Streamline Financial Management

Construction accounting software makes tasks like invoicing and payroll easier. It automates credit management, invoicing, and collections, helping with cash flow management. It also speeds up payments by checking information before posting, ensuring accuracy.

Enhanced Job Costing and Project Management

This software combines different tools for tracking costs and managing projects. It keeps all project documents in one place, giving everyone the latest info. This leads to smoother work and fewer mistakes.

Improved Financial Reporting

It includes tools for financial reporting, like automatic reports and standard billing. This gives businesses accurate financial info fast, saving time and effort on reports.

By using construction accounting software, small businesses can manage their finances better, improve project management, and boost construction business efficiency.

Pricing Considerations for Small Construction Businesses

Choosing the right construction accounting software for a small business is crucial. It’s important to look at the pricing and see if it fits your budget. Many options have subscription-based pricing with different plans for various needs. Some also have one-time licensing fees.

It’s important to think about what your business needs now and in the future. This way, you can pick a solution that works well and doesn’t break the bank.

Clear pricing and easy comparisons help in making a good choice. Things like the complexity of the software, your goals, the modules or feature sets you need, and the number of users affect the cost. Knowing these factors is key to finding affordable accounting software for your construction business.

By looking closely at the construction accounting software pricing and matching it with your construction business budgeting needs, small construction companies can find a great and affordable solution.

“Transparent pricing and the ability to easily compare options can be helpful in making the right choice for the construction company’s specific requirements.”

Integration and Customization Options

For small construction businesses, it’s key to link construction accounting software with other tools. This makes workflows smoother and helps share data better across different software. Top solutions like QuickBooks Enterprise and Sage 100 Contractor work well with tools for estimating, managing field services, payroll, and more. This means data moves easily and work gets done more efficiently.

Being able to change construction accounting software is also vital. You can make reports, dashboards, and settings your own. This makes the software fit your business better, making it more useful and efficient. Software flexibility is crucial for a small construction company’s needs.

Using construction accounting software integrations and customizable features, small construction businesses can make a software ecosystem that works just for them. This leads to smoother operations, better data visibility, and boosts financial performance and project profits.

Conclusion

Choosing the right accounting software is key for small construction businesses. It affects their efficiency, profits, and how they manage money. This article looked at five top options: QuickBooks Online, Sage 100 Contractor, Striven, QuickBooks Enterprise, and Buildertrend.

Each one has its own set of features, prices, and benefits for construction contractors. When picking, consider things like job costing, managing projects, reporting, and how well it integrates with other tools. This way, small construction businesses can find the best software for their needs and grow.

Using the right accounting software can make things run smoother. It helps see finances clearly and gives the tools to handle complex projects well. Whether it’s QuickBooks Online, Sage 100 Contractor, or Striven, small construction businesses have many great choices.

They should think about what their business needs and what these software options offer. Making an informed choice can help them succeed financially in the long run.