Best Accounting Software for Construction

Graphic of calculator, coins and accounting software

Are you ready to invest in an accounting software solution?

If you need help managing your finances, we’ve got some tips as you sift through the many available accounting options. We’ll go through the pros and cons of each program and then point you toward the best choice for your business. Accounting software for construction is not a one-size-fits-all quick fix.

Table Of Contents

Why it’s important to find the right construction accounting software for your business
The top 4 construction accounting software solutions
Pros and cons of different construction accounting software
Integrate your construction accounting software with Buildertrend
Construction accounting software FAQs
- Measure less, build more

Why it’s important to find the right construction accounting software for your business

Some of the top reasons to invest in construction accounting software are to save time and money and to keep the financials organized while you focus on building projects.

It’s important to take time to find the right fit for your company’s needs and to simplify construction accounting. Price is typically the first consideration – know your accounting software budget and cut out all options above this price range. If the software you’re considering doesn’t give a clear cost, contact the company directly for a quote.

Look for a simple landing page and a program that’s available in app form – the easier it is to pull up and enter data, the greater success you’ll have with employees and subs using it regularly. You want a program capable of managing your business’s finances while you’re juggling multiple projects at once.

The top 4 construction accounting software solutions

The four accounting solutions we review below are QuickBooks, Xero, MYOB and Sage. We chose these four based on pricing and functionality. Some of the highlighted features are employee tracking, user plan customization, customer service and compatibility with construction management programs.

Pros and cons of different construction accounting software

Choosing the right accounting solution is personal. We examined some pros and cons and then expanded on the software’s best features.

	Pros	Cons
QuickBooks	Easy to use Location tracking features Three options for high- and low-priced plans Currently integrates with Buildertrend construction software	Editing can be complicated No direct access to customer service
Xero	Easy to use Cloud-based capabilities run smoothly on multiple devices Three options for high- and low-priced plans Currently integrates with Buildertrend construction software	Reporting functionality can be complicated
MYOB	Well-known by most accountants Can handle medium and large businesses Four options for high- and low-priced plans	Not all processes are user-friendly Can be slow moving
Sage	Easy to use Unlimited users Construction-specific reporting	Works better for small and mid-sized companies No employee location tracking No upfront pricing

QuickBooks: Best for value invoicing solutions

If your budget is tight, QuickBooks will add value to your financial management without breaking the bank. It’s a good option for contractors needing general accounting features like bill payment – plus, it allows you to create customized invoices and integrates with construction management software.

Moving back and forth between software programs is a waste of time. Buildertrend and QuickBooks have a two-way sync where information from Buildertrend can be directly transferred into QuickBooks and vice versa. This smooth process automatically keeps your files linked and information, such as accurate job costing, available when you need it.

Xero: Best for collaboration

Xero has superior cloud-based capabilities to allow for remote and on-site employees to collaborate in one place. You can easily sync your bank account to keep up with invoices and expenses and to pay bills. Customer service communication can be complicated with Xero.

MYOB: Best for handling any business size

MYOB has been around awhile. For this reason, its features are well known and your accountant will most likely have experience using the program. Some smaller businesses complain that it’s too complicated for their straightforward accounting needs. However, if you’re a medium or large construction business, MYOB may be a good option for you.

Sage: Best for easy project estimation

With Sage, you can quickly create estimates from the many template options. It also uses Windows features for simple cutting, copying and pasting. Sage is an option if you need help with costs associated with larger commercial projects including equipment, materials and labor. You must contact Sage directly for a quote.

Integrate your construction accounting software with Buildertrend

Buildertrend can help businesses make the most of their accounting software by offering software integrations with QuickBooks and Xero.

The purpose of an accounting platform integration is to sync information from your construction management software with your financials. This creates a single powerful tool instead of a couple of programs functioning separately from each other.

For maximum efficiency with your accounting software, choose QuickBooks or Xero and sync with a smart construction app like Buildertrend.

Construction accounting software FAQs

Get answers to the most common construction accounting software questions.

What is construction accounting software?

Construction accounting software is a management tool for organizing your company’s finances. Features within the software assist with job costing, payroll, reporting and more.

Is construction accounting software easy to use?

A good construction accounting software solution is easy to use. To help simplify the finance part of the job, choose a cloud-based program that can be accessed from the field by unlimited users.

What features should I look for in construction accounting software?

When considering construction accounting software, look for features relating to job costing, payroll and reporting. It’s important to check if the program you’re considering is cloud-based and integrates smoothly with your existing construction management software. If it doesn’t, find an accounting software solution that does. Otherwise, transferring your information is a waste of time.

Why is construction accounting difficult?

Construction jobs offer unique bookkeeping and accounting challenges since the majority of work is decentralized and tied up in multiple individual projects. These projects involve long-term construction contracts that drag out the accounting process, and during this timeframe costs tend to change.

What are the basics of construction accounting?

The basic principles of construction accounting include accurate job costing, which requires you to track materials, payroll and other expenses, revenue recognition, which tracks payments received by the construction company, and different types of reports to document your business operations.