10 Best Construction Accounting Software + 2024 Pricing Guide

best bookkeeping for construction

The platform manages the request through the documentation provided by vendors. You’re able to then compare vendors side-by-side to make the most educated decision. Nothing would be worse than losing years of data to a computer crash or natural disaster. It’s smart to have duplicates of all your records in case something like this happens. In many cases, you need to have your financial records for at least three to seven years (varying by state and type of record) so losing them would cause a lot of problems.

Top 5 Construction Accounting Software

Depending on how small your business is, a mid-tier FreshBooks or QuickBooks plan might be enough to maintain and grow your business’s profitability. But Jonas Premier isn’t the only contractor accounting software solution, which means it might not be the best contractor software for you. For instance, if you need an affordable, collaborative ERP solution, Buildertrend might be a better fit.

500+ companies use ClockShark to track employees and save time every month.

We appreciate that the platform is highly user-friendly, with its narrow suite of features, intuitive interface and low costs affordably streamlining your accounting fundamentals. Although Sage Accounting lacks valuable contractor time tracking tools, upgrading to Sage’s separate, higher-end Intaact platform gives you tools for building invoices from labor hours. Starting and growing a construction business can be expensive and although you need to spend money to earn money, minimizing costs is key.

best bookkeeping for construction

Know Your Business Better

best bookkeeping for construction

Features like invoicing, expense tracking, and financial reporting help you monitor cash inflows and outflows. Automated reminders for overdue invoices and the ability to forecast future cash flow based on current data can also help maintain a healthy cash flow. I chose QuickBooks because you get access to live expert assistance, making it easy to resolve questions or issues as they arise. The software includes features like invoicing, tracking miles, and managing cash flow, giving your team practical tools for day-to-day operations. QuickBooks can also track expenses in real-time, keeping your projects on budget.

best bookkeeping for construction

best bookkeeping for construction

In other words, Jonas Premier likely won’t work for startups or contracting businesses with a revenue beneath $3 million. There are two specific price ranges I considered when evaluating these tools, depending on what they offer. Everyone from administrative employees working in the office to construction workers on the jobsite need to be able to understand and use the software.

best bookkeeping for construction