The core of any top-rated accounting system includes: job costing, general ledger, accounts payable, accounts receivable, purchase orders, payroll management and financial reporting. Many contractors may start their business with generic construction bookkeeping software, such as Quickbooks or Peachtree, but they will upgrade to an construction-specific system once they reach a certain level of sophistication-typically when they exceed about $3 million in revenue or more than five concurrent projects of meaningful size. This capability is the core difference between construction accounting systems and the generic accounting systems that are more popular in other industries. Systems are typically designed around a job costing module, which allows accounting staff to allocate job costs by job and CSI code. What Is Construction Accounting Software?Ĭonstruction accounting software offers sophisticated functionality for job costing, complex payroll processing, equipment management, subcontracting and other financial management processes. We wrote this guide to help make sense of this complicated marketplace. There are also unique vendors for different trades and divisions- general contractors, heavy/civil, MEP etc.

These range from low-end solutions for small companies to large enterprise resource planning (ERP) systems. In response to these requirements, roughly 100 applications vendors exist to serve the market. Contractors need to track detailed costs by job and manage complex payrolls, among other things.

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