Best 5 Construction Accounting Software

Elise Williams

2024-09-27 19:04:05 • Filed to: Software for Business • Proven solutions

A lot of construction companies must juggle operations and accounting to stay on top of their business and ahead of the competition. There are a large number of construction accounting programs on the market today claiming they can make such processes easier. However, when it comes to construction accounting and financial management, it pays to know exactly what you're looking at and how it will benefit your business. Now here are 5 best construction accounting software programs currently available.

Top 5 Best Construction Accounting Software

1. FreshBooks

FreshBooks is a construction accounting software program that supports accounting, invoicing and reporting, plus a host of other functionalities. It lets you manage job costs, automate accounting tasks, add apps and tools, automate invoicing, and receive payment in diverse ways. You’ll also get instant notifications on paid or viewed invoices. This accounting software program helps you remain organized to assist with tax reporting, running reports, and tracking contractors and time. Easily attach and scan different documents, from quotes to receipts. You can also log any change made to a document with the proper time stamp and date.

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Pros

Easy to use and set up
Enterprise version has additional tools
Prevents corruption of company files
Easy navigation
Multiple and simultaneous user features

Cons

Limited reporting capabilities
Larger reports are not easy to export

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2. Jonas Construction Software

A very popular accounting construction software for over 25 years, Jonas integrates diverse aspects of accounting to help you save time and eliminate manual errors and double entries. It’s considered the contractors’ solution since it is superbly integrated and intuitive. The software contains widespread functionalities for handling most contracting trades. The tool features accounts payables, superior tracking functions, and an easy to use audit trail. You can set up restrictions on access to information for security purposes, manage accounting for multiple companies and divisions, and keeps all financial information detailed and organized.

Pros

Includes specific functionalities for all departments
Great customer support
Immense features
Easy to use
Product is constantly updated

Cons

Cheque and purchase numbers too short
Old and complcicated product interface
It’s not easy to leave long descriptions

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3. Foundation Software

Foundation construction accounting software helps track financials and report important construction-related information, including certified payroll, retainage, current wage rates, job activities, change orders, multiple trades, equipment use, union deductions, and subcontracts, among others. This solution for scheduling, project management and job costing is available on the cloud or through traditional installation. Additional modules include inventory, service dispatch, unit price billing, document routing, imaging, and consolidated general ledger among others. It also includes a mobile version to take into the field with you.

Pros

Easy to use
Great product support
Great features for organisation and reporting
Fully customizable to fit company needs
Remote functions

Cons

Lacks a search bar
Requires time to learn

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4. Buildertrend

This is a unique construction management tool. It blends project management, scheduling, financial management, and customer management into one program. This cloud-based tool is accessible via mobile devices and online via PCs. Buildertrend offers pre-sale tools, CRM systems, quick proposals, and bids. This tool also integrates with other software such as Xero and QuickBooks. An Account Manager is available for support and training to gain an easier understanding of the tool.

Pros

Easy to use
New features added regularly
Set up is easy
Local purchase orders and delivery management above board
Cost codes set up
Helps track and meet deadlines

Cons

Customer and contractor can’t sign proposals
Site updates are done during business hours which interferes with work
Lacks portal for pricing updates by vendors

5. ZipBooks

As a totally cloud-based tool, ZipBooks is designed for SMEs, offering features such as budgeting, financial reporting, forecasting and core accounting. Users are able to customize invoices and emails with logos, messages and themes. This accounting software for construction includes functionalities such as bank reconciliation and accounts receivable, while the bank integration feature allows system to pull transactions automatically and generate company expense summaries in real-time. For every advance on an invoice, the accounting software includes invoice financing where amounts are credited to the account of the business 24 hours after invoice creation, even if the client payment is pending.

Pros

Creates projects
Tracks time
Accounting report print outs available
Receives payments and sends invoices
Includes recurring invoices

Cons

Visually appealing but not streamlined for ease of use
Invoice design is not easily customizable

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The Complete PDF Solution for Your Construction Accounting Software

Even the best construction accounting and financial management systems still lack many important features. PDFelement helps to fill in the gaps where construction accounting tools are unable to do so. Create, convert, and organize PDF documents across mobile devices and desktops. PDFelement offers many features to decrease your workload, including the ability to create fillable forms, deployment and licensing tools, and easy standardization across Windows and Mac. PDFelement also allows for easy PDF creation from more than 300 file formats, as well as the ability to print to PDF from many types of apps, including construction accounting software apps. You can also merge and combine multiple files into a single document and archive according to PDF/A ISO standard.

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5 Ways PDFelement Can Work Alongside Construction Accounting Software

1. Standardize document formatting by converting to PDF

Without a standardized document format, reporting within construction accounting software is virtually impossible. PDFelement is made for business and offers a unique, easy-to-use, and versatile PDF editing system for small and medium-sized businesses. You can organize, convert, and create PDF documents on any device. By making it easy to standardize documents, PDFelement offers top-notch and intuitive PDF capabilities for accounting software for construction company.

2. Convert scanned file into editable PDF (OCR)

Modern accounting doesn’t have to include papers and clutter. With advanced OCR (Optical Character Recognition) capabilities, you can create high quality and editable digital files from paper-based documents. Construction accounting software often doesn’t include effective ways to easily convert thousands of documents into a digital format. The OCR feature in PDFelement detects exact characters on scanned on documents and converts them into editable and searchable files that can be saved on your computer.

compare construction accounting software

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3. Extract Data

Accountants often face the headache of manually exporting and extracting a lot of accounting and financial data. In the process they waste many hours and lose productivity. There is also more room for human error. PDFelement offers quick and simple data extraction with the click of a button. Extracted data is analysis-ready, meaning you can work on it immediately.

4. Form fields recognition and fillable form creation

It is critical that accounting software for contractors has the ability to process forms and fill them out. These tasks can be incredibly time consuming because they involve manual printing, filling, and sending, which wastes many hours. PDFelement, when used alongside a construction accounting program, helps to decrease the time needed to work with forms and enjoy an efficient accounting workflow.

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5. Annotate to communicate with co-workers

Construction accounting software offers many good accounting features, but often lacks solid collaboration tools. It’s a time consuming process for multiple users to annotate, redact, and comment on a single document, and this isn’t even possible in most accounting software systems. PDFelement allows for easier collaboration within a single interface by ensuring all documents are transformed into editable PDFs. This makes it easier for teams to collaborate and complete in-house accounting projects without hassle.

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