A construction business can be as successful as its accounting department can be. Many small and medium size contractors seek help when managing their finances and some other rely on great accounting tools to keep track of their expenses and budgets. I have put together a list of reliable and favorite construction accounting tools that will make your life easier and your business more profitable.
Sage 100 Contractor is a powerful construction accounting and management software that takes care of the estimating, job costs, construction management and payroll services under one single solution. The software is able to provide current reports in their unique dashboard providing detailed information with the latest costs. The software is also mobile friendly, so it can be accessed through your smart phone as well. The program also sends email alerts to specified users and every team member can access the reports and have the latest and most accurate information.
Procore is another powerful software that can be used to engage all construction team members under a single platform. The construction accounting software is so powerful that can be used to track all communications, invoices and documents keeping a neat record of all information. Change orders, contract and application for payments can be submitted through the program dashboard, making it easier to manage and providing all key players with the most current information. Procore has capabilities to manage the following accounting areas:
- Accounts Payable
- Accounts Receivable
- Inventory Management
- Job Costing
- Materials Management
- Purchase OrderTime
- Materials Billing
Co-Construct is a cloud-based accounting software ideal for the medium size builder. One key aspect of Co-Construct is that change orders online and invoices can be prepared in Quickbooks or Xero. The program is designed so it can be integrated with your actual accounting software through a seamless process. Automatic data reports can be created without being charged with additional 'hidden' fees.Co-construct works with QuickBooks US Desktop and worldwide with QuickBooks Online and Xero. All budgets are updated using real-time date from reports, actuals and accruals. A great advantage of the program is that it can build cost codes and date for budgets when you set up specs and as selections are made for each particular project.
Prolog is another great tool for project management and construction accounting that also includes estimating features. This software is ideal when working with projects with a budget of 10 million or less. It offers some unique user interface and great reporting tools. Some features include having the opportunity to merge multiple projects into a single database so reports can be pulled out faster and reducing the paperwork/hassle when working with different projects. It offers the ability to prepare real-time budget tracking and cost management solutions. It can be used as a tool to manage contracts, change orders, cash flow, invoices and payments.
ComputerEase can be used by all contractors no matter how small or big they are. One of the most important features that this software provide is the ability to generate a real-time work in progress report. By using this program, you will avoid dealing with Peachtree and QuikcBooks as the software has all the capabilities these two offer and many more features. It can help with wage reporting, invoice and material tracking, contract management and even CRM. ComputerEase is available on mobile devices with a remote data-entry feature called FieldEase. Finally the software also provide customization with Qtool and is ODBC compliant.