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Choosing the Most Applicable Construction Accounting Software

Choosing the Most Applicable Construction Accounting Software

Choosing the appropriate accounting software for your business is one of the more important decisions you can make. The construction industry has a wide range of different software to choose from that offer different capabilities and features which are tailored to your business. Some of the industry leaders in construction accounting software include (in no particular order):

  • Jonas Premier – Cloud-based solution for accounting software that allows for the management of multiple companies with the ability to differentiate projects. This solution allows for instant creation of reports, full integration to bank accounts, and real-time estimates and forecasting. Pros include a good customer support network, simple workflows, and its use as a time saver. Cons include a challenging inventory setup process and an inability to have different units of measure.
  • CoConstruct – Four-part software platform used to manage unlimited construction projects. The four parts include preconstruction, project management, operations, and financial segments that work concurrently with one another. Through the project management segment of the software, scheduling is made easy, along with tracking all key job activities. Pros include a useful estimating tool, centralized job tracking, and strong customer support. Cons include overcomplicated simple tasks and no centralized dashboard.
  • Foundation – This software is broken down into modules that are customizable to your business. The job costing module can be integrated with your general ledger to allow ease of cost tracking. Pros include training support, strong customer support, and job costing integration with the general ledger. Cons include existing reports being limited (however, customizable reports are available) and some layers of the platform can feel cumbersome.
  • Buildertrend – Another cloud-based software that offers basic needs to run your business, including scheduling, daily logs, and a to-do list, but also offers direct messaging through the app with your clients to allow for the option to sign contracts and include scope changes. Pros include a useful customer relationship management tool and employee tracking abilities. Cons include somewhat counter-intuitive proposal building and the software tends to be glitchy or crash.

Other options for construction accounting software include:

  • CMiC
  • Procore
  • RedTeam
  • Intuit Quickbooks
  • Sage
  • Computerease

Selecting the right construction accounting software is an extremely important decision and should not be taken lightly. Begin the process by assessing the critical needs of your business and determine which software option will help you address those needs. Try not to fixate on one particular software too soon, narrow it down to a few plausible options before selecting your new software.

We’ve assisted numerous clients through the software selection process and have helped select a solution that makes an immediate impact and offers maximum process optimization.

 

12/28/2022

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