The construction industry could be a $1.74 trillion powerhouse by 2027. Guess what? Your construction accounting software will drive a significant portion of that impressive financial growth.
Managing finances without specialized tools reminds me of building a skyscraper with a plastic hammer – you could do it, but why make your life harder?
We’ve watched businesses completely change their daily work just by using the best financial solutions. A newer study, published by industry experts, shows that 16% of construction software buyers want accounting capabilities.
The numbers tell an interesting story – 25% of US construction firms will boost their investments in accounting software. This is a big deal as it means that the global construction accounting software market reached USD 1.5 billion in 2022, with a 5% yearly growth. These figures make sense given that the US alone has over 3.7 million construction businesses.
We hand-picked the 3 absolute best options for you to see. If you’re in construction, you know how tricky money can get. This kind of program helps you control every penny spent on your job. You get to pick from things made just for you.
You’ll find us discussing everything from major industry players to the exact gear little construction crews rely on. What do you say we begin?
1. Premier Construction Software
Premier Construction Software stands out as an all-in-one construction accounting software. It helps you manage every dollar for different projects and companies. All your finances connect easily, giving you the full picture.
Premier Construction Software Key Features
Premier Construction Software delivers strong accounting tools with advanced job costing capabilities to give contractors complete financial visibility.
You get this and more:
- AI-powered insights through “Eddie” – an assistant that analyzes data and flags risks before they hurt profitability
- Integrated drawing management with revision tracking and markup tools
- Detailed project management with RFIs, submittals, and task tracking
- Mobile access for time entry, expense tracking, and drawing access
- Guest user access for architects, clients, and subcontractors at no extra cost
Premier Construction Software Pros
- Prebuilt job dashboards with drill-down capabilities
- Efficient subcontractor management with one-click contract creation
- Electronic approvals with customizable workflows
- Go-live in 60 days with industry-specific templates
- 30-day money-back guarantee
Premier Construction Software Use Case
Growing residential, commercial, and industrial builders benefit most from Premier Construction Software. Companies earning USD 5-10M annually can start with the Starter package. Businesses with USD 10-75M revenue typically choose higher packages.
QuickBooks graduates will appreciate Premier Construction Software construction-specific capabilities. A customer saved 30-40 hours per job by managing change orders instantly. They could then make their accounting staff smaller.
Premier Construction Software unites functions that usually need multiple systems. Companies that want to run their finances and projects from one central place will get the most benefit from this platform.
A customer explained it well: “We chose Premier Construction Software because it offered a single system instead of needing 13 different platforms”.
2. Sage 100
Sage 100 Contractor gives smaller construction companies a solid grip on their money matters. This program, once known as Master Builder, handles every step, from the first bid to finishing a project.
Sage 100 Contractor Key Features
Sage 100 Contractor brings together several construction-specific capabilities:
- Job costing with live expense tracking
- Easy-to-use dashboard that gives quick access to critical data
- Detailed project management with scheduling and resource allocation
- Automated payroll processing that integrates with job costs
- Progress billing with AIA certificate printing options
- Inventory control system to track stock in multiple locations
- Over 1,200 reports to analyze finances in detail
Sage 100 Contractor Pros
- Robust job costing features to track project expenses
- Simple interface that works well for businesses with limited IT resources
- Full bookkeeping system with accounts payable/receivable integration
- Extensive network of resellers and knowledge experts
Sage 100 Contractor Use Case
Businesses with yearly revenues of USD 1-50 million will find this software a perfect fit. Current data shows 18,431 businesses use Sage 100 Contractor. The solution works best for:
- General contractors who manage multiple projects at once
- Specialty contractors who need detailed cost tracking
- Home builders who want integrated scheduling and billing
- Companies with 10-50 employees looking for construction-specific accounting
Contractors who have outgrown QuickBooks will find that Sage 100 Contractor offers construction-specific features without the complexity of enterprise-level construction accounting software
3. QuickBooks Enterprise
QuickBooks Enterprise provides powerful accounting capabilities that construction companies need to manage complex financial operations.
QuickBooks Enterprise Key Features
QuickBooks Enterprise Contractor Edition has specialized tools for construction companies:
- Advanced job costing with immediate tracking
- Change the order management that shows cost effects
- Customer prepayments for estimates and sales orders
- Flexible billing rates based on jobs or employee’s experience
- Specialized chart of accounts for construction businesses
- Support for up to 40 users with granular permissions
QuickBooks Enterprise Pros
- 94% of users praise the detailed expense tracking features
- 88% of reviewers value the reliable financial management
- Small businesses find it ideal, according to 89% of users
- Cloud hosting options enable remote access
- Over 200 customizable reports with 70 industry-specific options
QuickBooks Enterprise Use Case
Medium-sized construction companies with complex accounting needs benefit most from this solution. Companies that have outgrown QuickBooks Online or Pro versions find it valuable.
Large data files become manageable as the system can handle up to 1 million vendor, customer, and item lists.
Managing money for a building project can get messy. This software keeps all your job costs, payroll, and invoices perfectly organized. We help companies with many projects manage their work, paychecks, and project costs all in one place.
Conclusion
The right construction accounting software can make the difference between success and bare survival in today’s competitive market. You saw us sift through all eighteen. High-grade software for every construction job.
This software quickly becomes the top choice for construction companies needing full control over their money. Smart computer reports, combined with all your building plans and solid project management, give builders a clear picture of their money.
As the construction field booms, your company must have software that expands right along with it. Each solution in our review shines differently based on company size and specialty.
Let your personal needs lead your choice. It’s smart to evaluate a few things. Consider your business’s operational scale, the inherent difficulty of your projects, and the financial resources you have available. Your team’s tech skills and setup timeline also matter. A good tool fixes what’s broken today and keeps up as you get bigger.
Remember how construction firms used to manage their money? Cloud programs have completely rewritten that story, making it far simpler. Team members can pull up their data from any spot. Up-to-the-minute data analysis helps avoid errors and delays that can get pricey.
Note that even the best construction accounting software works well only with proper setup and training. Your team needs good support during the switch. Most providers offer setup help and ongoing tech support; you should use these resources!
Managing construction finances doesn’t have to be hard. Smart equipment makes tough work easy. This gives you more time to create awesome projects and expand your company.
Quality accounting software brings better efficiency, accuracy, and profits, whether you run a small contracting firm or lead a large construction enterprise. Considering the options, which software application appears most compelling? Your perfect match is waiting among these excellent options!
