21 Best Accounting Software For Contractors Reviewed In 2024
Best Accounting Software For Contractors Shortlist
Here's my pick of the 10 best software from the 21 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Choosing the right accounting software for contractors can be tough with so many options out there. You need to manage your finances, track expenses, and handle invoicing efficiently, but figuring out which tool is best can be overwhelming. In this post, I'll simplify your decision, drawing from my extensive experience working with various accounting tools to bring you this shortlist of accounting software tailored for contractors.
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Best Accounting Software For Contractors Summary
| Tools | Price | |
|---|---|---|
| FreshBooks | From $10/month (billed annually) | Website |
| Acumatica | Pricing upon request | Website |
| Viewpoint Vista | Pricing upon request | Website |
| Buildertrend | From $99/month (billed annually) | Website |
| Jonas Construction Software | Pricing upon request | Website |
| JOBPOWER | Pricing upon request | Website |
| Deltek | Pricing upon request | Website |
| Sage 100 Contractor | Pricing upon request | Website |
| Foundation Software | Pricing upon request | Website |
| CMiC | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow To Choose Accounting Software For Contractors
As you work through your own unique software selection process, keep the following points in mind:
- Industry-Specific Features: Best construction accounting software should offer features tailored to the construction industry, such as job costing, project management, and payroll management. For example, software like FOUNDATION and Sage 100 Contractor provide robust job costing capabilities that allow contractors to track costs and revenues for individual projects, ensuring profitability and accurate financial reporting.
- Integration Capabilities: The software should integrate with other tools and platforms used in your business, such as CRM systems, project management software, and inventory management tools. For instance, QuickBooks integrates with various construction management software, enabling contractors to align operations and maintain a unified data system.
- User Experience and Accessibility: Choose software that is user-friendly and accessible for your team, with features like mobile access and cloud-based solutions. CMiC offers both cloud-based and on-premise solutions, providing flexibility and ease of access for contractors working on-site or remotely.
- Customer Support and Training: Evaluate the level of customer support and available resources for training and troubleshooting. FOUNDATION is praised for its responsive customer service, crucial for resolving issues quickly and ensuring smooth software implementation.
- Scalability and Cost: Consider the software's scalability to accommodate your business growth and the associated costs. Pricing can vary significantly, with general accounting software like QuickBooks being more affordable for small contractors while specialized solutions like Jonas Enterprise cater to larger firms with more complex needs. It's essential to obtain multiple quotes and choose a solution that fits your budget and business size.
Best Accounting Software For Contractors Reviews
This in-depth analysis provides an overview of each accounting software for contractors. I will walk through the pros and cons of each tool, its features, and its best use cases.
FreshBooks is cloud-based accounting software for freelancers, small businesses, and contractors. It handles invoicing, expense tracking, and project management, helping you manage your finances.
Why I Picked FreshBooks:
I chose FreshBooks because it simplifies automated billing, letting you send recurring invoices and set up automatic payment reminders. It also provides time tracking so you can bill clients accurately based on hours worked. With its project tracking features, your team can monitor progress and expenses for each job. The software gives you financial reports that help you understand your cash flow at a glance.
Standout Features & Integrations:
Features include automated invoicing, expense tracking, time tracking, and project management. FreshBooks also offers double-entry accounting and real-time financial reporting, which is essential for maintaining accurate financial records.
Integrations include G Suite, Shopify, Stripe, PayPal, Gusto, Trello, Slack, HubSpot, Mailchimp, and Zapier.
Pros and cons
Pros:
- Automated late payment reminders
- Recurring invoices for ongoing jobs
- Easy project tracking for contractors
Cons:
- Not ideal for multiple currencies
- Requires manual updates for specific tasks
Acumatica is a cloud-based ERP solution designed specifically for contractors. It offers robust project accounting capabilities and provides tools for tracking project costs, managing budgets, and controlling change orders, ensuring comprehensive visibility into financial performance.
Why I Picked Acumatica:
I chose Acumatica because its project accounting tools allow you to track costs, manage budgets, and ensure profitability across multiple projects. You can automate billing, allocate labor costs, and monitor project expenses in one place. The software also provides detailed financial reports, helping your team keep projects on track. Acumatica’s focus on project accounting makes it ideal for contractors who need comprehensive cost control and financial visibility.
Standout Features & Integrations:
Features include project cost tracking, automated billing, and real-time financial reporting, helping your team manage project budgets and performance. You can track labor, materials, and overhead expenses while the software automates purchase order management to streamline procurement. Acumatica also provides detailed insights into project profitability, keeping your financials in check.
Integrations include Salesforce, Adobe Sign, DocuSign, Microsoft Power BI, Avalara, HubSpot, Shopify, Magento, Smartsheet, and Velixo.
Pros and cons
Pros:
- Customizable financial reports for projects
- Automates billing and purchase orders
- Great for managing project accounting
Cons:
- Limited flexibility for non-construction businesses
- Steep learning curve for new users
Viewpoint Vista is accounting software built for contractors, offering solutions for managing financials, project workflows, and compliance. It helps midsize and large construction firms track costs, budgets, and overall financial health.
Why I Picked Viewpoint Vista:
I chose Viewpoint Vista because its real-time reporting lets you track costs and project performance as they happen, providing up-to-date insights. The software integrates job costing, payroll, and financial reporting, allowing your team to monitor budgets closely. With customizable dashboards, you can easily monitor project status and financials in one place. It’s ideal for contractors who need detailed financial oversight throughout their projects.
Standout Features & Integrations:
Features include real-time financial reporting, job costing, and payroll management, helping your team manage project finances. You can track budgets and expenses across multiple jobs, updating all financial data in real-time. Viewpoint Vista also offers compliance management, ensuring your projects meet industry standards.
Integrations include Procore, Microsoft Dynamics, Sage, QuickBooks, Xero, Acumatica, CMiC, Foundation Software, Jonas Construction Software, and Buildertrend.
Pros and cons
Pros:
- Customizable reporting dashboards
- Scalable for large construction projects
- Excellent for real-time financial tracking
Cons:
- Limited flexibility for smaller contractors
- Complex implementation process
Buildertrend is cloud-based construction management software designed for contractors, providing tools for project management, financial tracking, and client communication. It helps you manage every aspect of your business, from estimates and budgeting to invoicing and payments.
Why I Picked Buildertrend:
I chose Buildertrend because it offers a complete set of financial tools tailored for contractors. You can create detailed estimates, manage budgets, and track job costs in one place. The platform simplifies invoicing and makes it easy for your team to process payments. Real-time financial reporting gives you a clear view of your projects’ profitability.
Standout Features & Integrations:
Features include job costing, invoicing, and budget tracking, giving your team the tools to manage every project's financial aspect. You can also create detailed estimates that keep your clients informed and your budget on track. Buildertrend provides real-time financial reporting so that you can monitor profitability as your projects progress.
Integrations include QuickBooks, Xero, Gusto, PayPal, Stripe, Square, Sage, Microsoft Excel, Google Calendar, and Dropbox.
Pros and cons
Pros:
- Quick setup for new users
- Customizable budgeting and reporting tools
- Strong job costing functionality
Cons:
- Reporting can be hard to navigate
- Complex setup for larger projects
Jonas Construction Software is designed for contractors and construction firms, offering tools for project management, accounting, and service management. It helps your team manage financials, payroll, and job costing in one integrated platform.
Why I Picked Jonas Construction Software:
I chose Jonas Construction Software because it integrates accounting features directly into the platform, making it easy for you to manage job costs and track project expenses. The software offers detailed financial reporting, allowing your team to monitor budgets and profitability. It also simplifies payroll, letting you handle employee payments without switching between systems. For contractors, having everything in one place helps streamline financial management and project coordination.
Standout Features & Integrations:
Features include real-time job costing, payroll management, and financial reporting, allowing your team to stay on top of project expenses. You can handle accounting tasks like invoicing, billing, and expense tracking within a single platform. Jonas Construction Software also offers tools for managing subcontractor payments and compliance reporting.
Integrations include Microsoft Office, Sage 300, QuickBooks, Procore, DocuSign, AvidXchange, eTakeoff, Bluebeam, Dropbox, and Smartsheet.
Pros and cons
Pros:
- Strong job costing for contractors
- Great for handling complex projects
- Integrated payroll and compliance features
Cons:
- Requires technical knowledge to manage
- Long implementation process
JobPower is a specialized construction accounting software designed to meet the unique needs of contractors and subcontractors. It helps construction companies efficiently manage their billing, payroll, and job-related financial tasks.
Why I Picked JobPower:
I chose JobPower because it simplifies AIA billing, making it easier for your team to handle complex billing processes. The software automatically generates AIA-style invoices, helping you save time and reduce errors. JobPower also supports detailed job costing so that you can keep track of labor and material expenses. Its focus on construction-specific needs helps contractors manage projects and maintain accurate financial records.
Standout Features & Integrations:
Features include automated general ledger postings, controlled ledgers to maintain balance and customizable financial statements. JobPower is CPA-recommended, highlighting its reliability and effectiveness in managing construction finances. The platform also supports various billing methods, including AIA and time and materials, making it versatile for different project types.
Integrations include National Document Solutions LLC, Creative Information Systems, VirtualBoss, Winestimator, ProEst, PlanSwift, Sage Estimating, Microsoft Excel, QuickBooks, and Procore.
Pros and cons
Pros:
- Strong job costing functionality
- Scalable for midsize contractors
- Excellent for AIA billing
Cons:
- Limited flexibility for customization
- Learning curve for new users
Deltek is a leading provider of project-based software solutions tailored for the construction industry, offering tools to manage project financials, track expenses, and monitor project performance. It supports both small and large companies with scalable solutions that adapt as your business grows.
Why I Picked Deltek:
I chose Deltek because it offers scalability, allowing you to start with core financial functions and expand as your business needs grow. You can manage job costing, payroll, and compliance in one place, ensuring your team stays organized. The software also provides project tracking and reporting tools, helping you stay on top of your budget and timelines. Deltek ComputerEase offers the right balance of features and customization for contractors looking for a flexible system to grow their business.
Standout Features & Integrations:
Features include project management, job costing, and financial reporting, allowing your team to manage all construction-related financials in one place. You can automate tasks like payroll and accounts payable, streamlining administrative work. Deltek also provides tools for real-time project tracking, helping you stay on top of deadlines and budgets.
Integrations include QuickBooks, Xero, Sage, Procore, Microsoft Project, Oracle, SAP, Viewpoint, Bluebeam, and Autodesk.
Pros and cons
Pros:
- Streamlines accounts payable management
- Strong job costing features
- Great scalability for growing firms
Cons:
- Limited flexibility for small projects
- Complex implementation process
Sage 100 Contractor is comprehensive accounting and project management software designed for midsize construction firms. It offers project management, job costing, and financial management tools to help you manage complex construction workflows.
Why I Picked Sage 100 Contractor:
I chose Sage 100 Contractor because it provides specialized features for construction companies, like job costing and estimating, which help you manage projects more efficiently. The software tracks project progress and expenses, making it easier to stay on budget. It also handles payroll and compliance reporting, which are critical for contractors. Sage 100 Contractor is great for teams that manage multiple jobs at once without losing control over the financials.
Standout Features & Integrations:
Features include job costing, project management, and payroll processing, which help your team handle construction-specific financial tasks. You can track job progress and expenses in real-time, ensuring you stay on budget. It also offers compliance reporting, which simplifies meeting industry regulations.
Integrations include Procore, Microsoft Excel, Microsoft Outlook, QuickBooks, Sage Estimating, Sage Paperless Construction, Sage Service Operations, AvidXchange, eTakeoff, and Corecon.
Pros and cons
Pros:
- Real-time tracking of project expenses
- Provides detailed compliance reporting
- Handles complex construction job costing
Cons:
- Requires technical knowledge for setup
- Limited flexibility for non-construction businesses
Foundation Software is accounting software designed for contractors, focusing on job costing, payroll, and financial management. It helps construction companies manage project costs and track financial performance.
Why I Picked Foundation Software:
I chose Foundation Software because it excels at job costing, allowing you to track labor, materials, and overhead costs for each project. It provides detailed cost reports that help you stay on budget and control expenses. The platform also integrates payroll processing, making managing employee wages and taxes easier. Flexible reporting options let your team monitor job performance and financial health in real-time.
Standout Features & Integrations:
Features include advanced job costing, payroll management, and project tracking, helping your team manage financials across multiple projects. You can create detailed cost reports, track expenses, and monitor labor costs in real-time. Foundation Software also supports certified payroll and compliance reporting, making it easier to handle regulatory requirements.
Integrations include Procore, Viewpoint, Sage Intacct, QuickBooks, Microsoft Dynamics, Acumatica, CMiC, Jonas Construction, Buildertrend, and FreshBooks.
Pros and cons
Pros:
- Handles complex accounting needs
- Flexible reporting for cost control
- Excellent for detailed job costing
Cons:
- Reporting system can feel overwhelming
- Difficult implementation for small teams
CMiC is an accounting and project management platform designed for general contractors and construction companies. It helps manage financials, payroll, and job costing, streamlining operations with unified data across multiple projects.
Why I Picked CMiC:
chose CMiC because it unifies financial data, making it easier to manage and track costs across all projects. The software integrates job costing, general ledger, and financial reporting, allowing your team to see the full financial picture. CMiC also provides tools for managing payroll, helping you handle wages and taxes in one place. With its unified data system, you can keep all financials consistent and up to date, improving overall project control.
Standout Features & Integrations:
Features include unified financial data management, job costing, and real-time reporting, allowing your team to track financials. The software helps you manage accounts payable, accounts receivable, general ledger, and billing, all within one platform. CMiC also provides detailed project cost control and payroll management to ensure accurate financial oversight.
Integrations include Procore, Viewpoint, Sage, QuickBooks, Xero, Microsoft Dynamics, Oracle, SAP, Salesforce, and ADP.
Pros and cons
Pros:
- Great for managing large projects
- Centralized cost management
- Unified data for all financials
Cons:
- Long learning curve for new users
- Reporting can be difficult to navigate
Other Accounting Software For Contractors
Below is a list of additional accounting software for contractors that we shortlisted, but did not make it to the top list. Definitely worth checking them out.
- QuickBooks
For live expert assistance
- ZipBooks
For intuitive invoicing
- Xero
For mobile accounting
- KashFlow
Good for UK-based businesses needing VAT support
- Zoho Books
For small businesses with integrated CRM
- Gusto
For payroll and HR management
- Kashoo
Good for simple, easy-to-use accounting
- Patriot Accounting
Good for affordable payroll and accounting
- Wave Accounting
Good for freelancers needing free accounting tools
- MYOB
Good for comprehensive payroll features
- NetSuite
For large enterprises needing ERP integration
Related Reviews
If you still haven’t found what you’re looking for here, check out these other tools that we’ve tested and evaluated:
Accounting Software For Contractors Selection Criteria
Selecting accounting software for contractors involves evaluating functionality and meeting specific use cases that matter most. Criteria relate to specific software buyer needs, pain points, and the software's intended use. I have personally tried and researched these tools.
Core Accounting Software for Contractors Functionality: 25% of total weighting score
- Project-based accounting
- Expense tracking
- Invoicing
- Payroll management
- Financial reporting
Additional Standout Features: 25% of total weighting score
- Integration with other project management tools
- Mobile app functionality for on-the-go access
- Customizable reporting templates
- Advanced analytics and forecasting
- Automated compliance checks
Usability: 10% of total weighting score
- Intuitive user interface
- Drag-and-drop functionality for scheduling
- Easy navigation and accessibility
- Customizable dashboards
- Role-based access control
Onboarding: 10% of total weighting score
- Availability of training videos
- Interactive product tours
- Pre-built templates
- Chatbots for instant support
- Webinars for in-depth training
Customer Support: 10% of total weighting score
- 24/7 customer service availability
- Multiple support channels (phone, email, chat)
- Dedicated account managers
- Comprehensive help center
- Fast response times
Value For Money: 10% of total weighting score
- Competitive pricing plans
- Transparent pricing structure
- Free trial or demo availability
- Discounts for long-term commitments
- Cost-benefit analysis
Customer Reviews: 10% of total weighting score
- Overall satisfaction ratings
- Feedback on ease of use
- Comments on customer support quality
- Reviews on feature effectiveness
- User testimonials on value for money
Trends For Accounting Software For Contractors
Accounting software for contractors is evolving rapidly. Here are some key trends to watch.
- AI-Powered Automation: AI automates repetitive tasks like data entry and invoice processing. This reduces human error and saves time, allowing contractors to focus more on strategic planning.
- Cloud-Based Solutions: Cloud-based accounting software offers real-time access to financial data. This is crucial for contractors who work on-site and need mobile access. It also ensures data is backed up and secure.
- Integration with Project Management Tools: Accounting software increasingly integrates with project management tools. This allows for smooth tracking of project costs and timelines. It helps contractors manage budgets more effectively.
- Enhanced Data Analytics: Advanced data analytics features are becoming standard. These tools provide insights into financial performance and project profitability, allowing contractors to make more informed decisions.
- Blockchain for Secure Transactions: Blockchain technology is used for secure and transparent transactions. This is particularly important for large contracts and payments. It ensures trust and reduces the risk of fraud.
These trends are shaping the future of accounting software for contractors.
What Is Accounting Software For Contractors?
Accounting software for contractors is a specialized tool designed to help construction business owners manage their financial operations. Contractors, project managers, and accounting teams use it to track expenses, manage invoices, and ensure accurate financial reporting. This software is essential for maintaining financial control, ensuring compliance, and optimizing project profitability.
The components of accounting software for contractors typically include expense tracking, invoicing, payroll management, and financial reporting. These features allow users to monitor project costs, generate invoices, process payroll, and produce detailed financial statements, all within a single platform.
Features Of Accounting Software For Contractors
Choosing the right accounting software is crucial for contractors to manage their finances and projects efficiently. Here are the most essential features to look for in accounting software for contractors:
- Job Costing: Tracks costs specific to each project, helping to manage budgets and improve profit margins.
- Vendor Management: Organizes and manages relationships with suppliers and subcontractors.
- Form 1099: Facilitates compliance with tax reporting for contractors.
- Contracts Management: Manages contract details and obligations.
- Inventory Management: Oversees stock levels, transfers, and adjustments.
- Specialized Billing: Supports various billing methods used in construction.
- Project Management: Organizes tasks, tracks progress, and manages teams.
- Time Tracking: Monitors labor hours and productivity.
- Reporting and Analytics: Provide insights into financial performance and project status.
- Payroll Management: Manages employee payments and generates payslips.
Contractors can improve their efficiency, profitability, and overall project success by choosing software that includes these features.
Benefits Of Accounting Software For Contractors
In the world of contracting, managing finances efficiently is crucial for success. Below are five primary benefits that potential buyers should consider.
- Improved Financial Accuracy: Using accounting software reduces the risk of human error, ensuring that financial records are accurate and up-to-date.
- Time Efficiency: Automated processes in accounting software save contractors significant time on tasks such as invoicing, payroll, and expense tracking.
- Enhanced Financial Reporting: The software provides detailed financial reports, helping contractors make informed business decisions based on real-time data.
- Better Cash Flow Management: Accounting software helps contractors monitor cash flow effectively, ensuring they can manage their finances and avoid liquidity issues.
- Regulatory Compliance: The software assists in maintaining compliance with tax laws and other financial regulations, reducing the risk of penalties and audits.
Investing in accounting software can transform a contracting business's financial management, improving efficiency, accuracy, and compliance. These benefits manage operations and provide a solid foundation for growth and success.
Costs And Pricing Of Accounting Software For Contractors
Selecting accounting software for contractors requires understanding the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in accounting software for contractors' solutions:
Plan Comparison Table for Accounting Software for Contractors
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic invoicing, expense tracking, limited users |
| Personal Plan | $20 - $50/ month | Enhanced invoicing, basic reporting, time tracking, up to 5 users |
| Business Plan | $50 - $200/ month | Advanced reporting, project management, payroll, multi-user support (up to 20) |
| Enterprise Plan | $ 200 - $1,245/ month | Comprehensive project management, real-time data, custom integrations, unlimited users |
Accounting Software for Contractors FAQs
Here are some answers to common questions about accounting software for contractors:
How can accounting software help with job costing for contractors?
Accounting software tailored for contractors often includes job costing features, allowing you to track individual project expenses and revenues. This helps in understanding the profitability of each job by comparing actual costs against estimates. You can allocate costs to specific jobs, including labor, materials, and overhead, ensuring accurate financial tracking and reporting.
What are the best practices for integrating accounting software with project management tools?
To integrate accounting software with project management tools effectively, ensure both systems communicate. Use APIs or third-party integration platforms to sync data between the two systems. Regularly update both systems to avoid discrepancies and ensure that project timelines, budgets, and financials are aligned. This integration helps maintain consistency and accuracy across all project-related financial data.
Can accounting software handle the complexities of subcontractor payments?
Yes, many accounting software solutions for contractors include features to manage subcontractor payments. These features allow you to track subcontractor invoices, manage retainage, and ensure timely payments. You can also generate 1099 forms for tax purposes, making it easier to comply with tax regulations.
How does accounting software assist in managing change orders?
Accounting software can help manage change orders by providing tools to document and track changes in project scope, costs, and timelines. You can create and approve change orders within the software, ensuring that all financial impacts are recorded and reflected in the project budget. This helps maintain accurate financial records and avoid disputes with clients.
What should contractors look for in terms of scalability in accounting software?
When considering scalability, contractors should look for accounting software that can grow with their business. This includes handling increasing construction projects, users, and financial transactions. The software should offer customizable features and integrations that can be adapted as your business needs evolve. Plus, cloud-based solutions often provide better scalability options compared to on-premises software.
How can accounting software improve cash flow management for contractors?
Accounting software can improve cash flow management by providing real-time insights into your financial status. 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.
What are the tax compliance features available in accounting software for contractors?
Accounting software for contractors often includes tax compliance features such as automated tax calculations, generation of tax forms (e.g., 1099s), and integration with tax filing services. These features help ensure you comply with federal, state, and local tax regulations. The software can also keep track of tax deadlines and provide reminders to avoid late filings and penalties.
How can accounting software aid in financial reporting and analysis for contractors?
Accounting software provides various financial reporting and analysis tools that help contractors understand their financial performance. You can generate reports such as profit and loss statements, balance sheets, and cash flow statements. These reports can be customized to focus on specific projects or time periods, providing valuable insights into your business’s financial health. Advanced analytics features can also help identify trends and areas for improvement.
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