It hasn’t been long since most construction accounting relied on pen, paper, and stamps. Heck, sometimes it’s still done that way. But many subcontractors have caught up to the times and implemented software to streamline construction accounting processes like job costing, expense tracking, invoices, payroll, and financial reporting.
If you manage the finances for a subcontractor who’s still using Microsoft Word to create invoices and Excel to track expenses, it’s time to think about switching to software. Or if you’re using a generic accounting tool that’s no longer cutting it, you should migrate to a system that’s purpose-built for construction. The right tool will save you time and money, reduce accounting-related risks, and help you monitor the business’s financial health.
With 90+ construction accounting software options available, how do you choose the right one? We’ve put together a list of the ten best construction accounting software for subcontractors.
10 Top Subcontractor Accounting Tools
All ten tools on this list include basic accounting functionality. Some are robust all-in-one systems that have everything from CRMs to project management tools built in. Others are modular ERPs where you choose the capabilities your firm needs.
Where possible, we’ve included pricing information. It’s important to note, though, that because ERPs are modular, pricing is customized based on your unique needs.
1. Sage 100 Contractor
Formerly known as Master Builder, Sage 100 Contractor is a cloud-based construction accounting and management software designed for small to mid-sized contractors.
Features
- Customizable dashboard with built-in industry-specific reports
- Estimations and job costing
- General ledger, accounts payable, and accounts receivable
- Lien waivers and standard AIA billing
- Purchase orders and change orders
- Payroll management
- Inventory management and equipment tracking
- Project scheduling and project management
Pricing
Sage doesn’t publish pricing on its website but we did some digging. Word has it that subscriptions start right around $100 per user per month.
For an accurate quote, visit Sage 100 Contractor and connect with their sales team.
2. Sage 300 Construction and Real Estate (CRE)
Previously known as Timberline, Sage 300 Construction and Real Estate is an end-to-end construction and property management software that’s ideal for mid-market, large, and enterprise construction companies needing a more robust solution than Sage 100 Contractor.
Features
- Includes all the capabilities of Sage 100 Contractor
- Document management, project management, service management, and business intelligence
- Complex inter-company billing and consolidated reporting
- Automatic due-to, due-from, and inter-company journal entries
- International accounting capabilities with multiple currencies and currency conversion
- Customized reporting plus 1,400 pre-built reports
- Detailed configuration options for individual screens, fields, transactions, and tasks
- Change proposals that can be converted to change orders upon approval
Pricing
Like Sage 100 Contractor, Sage 300 CRE doesn’t publish pricing either. This is mainly because costs vary significantly based on the number of modules you want, how many users need access, and other factors. The Motley Fool says the most inexpensive version starts at a one-time fee of $14,000.
Head over to Sage’s website to discuss pricing for Sage 300 CRE with their team.
3. Quickbooks for Construction
Quickbooks for Construction is an easy-to-use cloud-based construction accounting software created for small subcontractors that are implementing software for the first time. It’s the most straightforward accounting tool on this list.
Features
- Accounts payable and accounts receivable
- Invoicing, job costing, and estimates
- Payment processing via credit, debit, and bank transfers
- Profitability tracking and reporting
- Per-project time and expense tracking
- Built-in reports for income statements, balance sheets, and cash flow
- Customizable reporting dashboards in the Advanced version
- Tax form organization and preparation
- Multiple integrations with other construction software
Pricing
Quickbooks offers multiple subscription tiers. The Plus version includes 5 users and is $85 per month when billed annually. The Advanced version includes 25 users and is $200 per month when billed annually.
Learn more about Quickbooks for Construction on their website.
4. Foundation Software
Foundation Software is a modular construction accounting software for contractors. It’s built on Microsoft SQL and offers both on-premise and cloud-based options.
Features
- Standard AIA billing software with automated recurring invoices, lien waivers, and credit memos
- Accounts payable module with conditional defaults and automatic error-checking to ensure accuracy
- General ledger with comparative trial balances, bank reconciliation, automated recurring journal entries, and audit trail management
- Budgeting software, job cost tracking, cost management and reporting, and change order management
- Timecard entry, processing, and calculations, prevailing wage management, and payroll reporting
- CPA Audit and Review dashboard to organize and share key reports and journal entries with CPAs
Pricing
Foundation is another provider that doesn’t publish pricing on its website. We searched high and low but were unable to find any clues about their price range. Most of the software review sites say that they offer a free trial, but their website doesn’t mention anything about that.
If you want pricing details, the first step is to head to Foundation’s website and request a demo.
5. Viewpoint Vista
Viewpoint Vista is a comprehensive construction accounting and ERP system used by both general contractors and subs. A platform solution, Vista offers everything from accounting and HR management to service and project management.
Features
- Accounts payable, accounts receivable, and general ledger
- Detailed tracking of contracts, change orders, labor, equipment, and materials
- Full accounting multi-company and inter-company capabilities
- ATO payroll and tax compliance
- Job costing, budgeting, forecasting, and tracking
- Project management workflows and automations
Pricing
Viewpoint doesn’t publish pricing for any of its software. They do have an interactive pricing tool to capture some basic information about your construction company, but you’ll still have to connect with a salesperson for a quote.
Learn more about Viewpoint Vista on their website.
6. Viewpoint Spectrum
Formerly Dexter + Chaney, Spectrum is a web-based construction ERP, popular across the trades with a high saturation in electrical. It offers modules for accounting, project management, equipment and materials management, service management, document control, HR and payroll, and reporting. Note that, unlike Vista, Spectrum does not have any capabilities for custom pay app forms.
Features
- Automatic invoicing to reduce manual data entry and eliminate manual errors
- Order management, inventory management, and equipment management
- Workflow automation and collaboration tools
- Document imaging and sharing
- Real-time construction data analytics
- Integrated payroll and onboarding
Pricing
As with Vista, Viewpoint doesn’t publish pricing for Spectrum. Head over to their pricing page to talk with a salesperson for a quote.
Learn more about Viewpoint Spectrum.
7. Premier Construction Software
Jonas Premier Construction Software is an all-in-one accounting, job costing, project management, and document management system that offers both cloud-based and on-premise options.
Features
- Cost-plus billing, progress-billing, and other accounts receivable modules
- 50 pre-built customizable reports with drill-down capabilities
- Automated invoicing creation and alerts
- Cost-to-completion tracking and job costing
- Document management and electronic signatures
- Payroll, audit trails, and year-end financial reporting
Pricing
Premier offers three different subscription levels.
- Starter: $299 per month when billed annually and a $15,000+ implementation fee.
- Premium: $249 per month when billed annually and a $25,000+ implementation fee.
- Enterprise: $199 per month when billed annually and a $50,000+ implementation fee.
Learn more about Premier Construction Software.
8. Procore
Procore is an all-in-one construction management software that includes financial management, preconstruction, workforce management, business intelligence, and more. They take a customized approach to build the setup you need.
Features
- Invoice creation, collection, review, and approval
- Automated billing workflows and alerts
- Prequalification, bid management, comprehensive estimating, and cost forecasting
- Custom workflows and collaboration features
- Project planning and task tracking
- Document management and digital photo storage
Pricing
Procore is another company that takes a custom quote approach. Pricing depends on the size of your company and the capabilities you need. The good news is that all Procore contracts include unlimited users and data, free training, and 24/7 support.
Learn more about Procore construction management software.
9. CMiC
CMiC is a construction ERP purpose-built to meet the needs of subcontractors. Its finance product helps construction firms manage accounting, HR and payroll, inventory, and equipment.
Features
- Accounts payable, accounts receivable, billing, and the consolidated general ledger
- Revenue management features like contract management, invoicing, expense tracking, and financial forecasting
- Cost management capabilities like labor, equipment, and expense tracking
- Instant, month-end, and year-end reporting
- Unified dashboard for real-time data analysis and total portfolio visibility
- Opportunity management and resource planning
Pricing
If you want to know how much CMiC costs, you’ll have to get in touch with their sales team. They take a fully custom approach to pricing.
Visit the CMiC website for more info.
10. Acumatica
A relative newcomer, Acumatica is a cloud-based ERP software for residential and commercial construction companies. It includes financial, project, and service management, plus an embedded CRM.
Features
- General ledger, accounts receivable, and accounts payable
- Multi-company, multi-currency, inter-company accounting, fixed assets, recurring and deferred revenue, and cash management
- AIA reporting, payroll, and robust financial tools
- Labor, time, and cost tracking
- Materials and equipment management
- Enhanced business intelligence for forecasting and better accounting planning
- Compliance management for lien waivers, releases, and insurance certificates
Pricing
Acumatica also provides custom pricing. Fees depend on which products you want, the type of license you need, and the amount of resources and data you’ll use.
Learn more about Acumatica on their website.
What to Look for in Your Construction Accounting Software
Finding the right construction accounting software that’s best for your subcontractor firm depends on a few factors, like:
- The size of your company and your accounting team
- If you have multiple companies under one umbrella
- The number of projects your firm takes on each year
- Your average contract value
- Your budget
It’s worth investigating multiple solutions to assess their features, product usability, pricing, and reviews. We recommend going with industry-specific accounting software. Construction accounting is complicated and general financial tools don’t really cut it. You also want to consider how easy it is to implement, learn, and use. Look for a provider that offers training and ongoing customer support.
Last, but not least, choose a tool that will integrate with your other systems—like your CRM, project management tool, or other systems that store important information. A fully integrated tech stack will save you time, reduce errors, and increase profitability.
Where Construction Accounting Software Falls Short
Construction accounting software may not be the only tool you need to run your back office. Most accounting tools fall short in a couple of areas—specifically when it comes to managing lien waivers and compiling pay apps.
Many subcontractors augment their ERP instance or accounting software with a tool like Siteline (which integrates with most systems mentioned above) to streamline their monthly billing process and eliminate errors. Check out how The Baumgardner Group uses Siteline integrated with their Sage 100 instance to get paid faster and save time for their PMs, accounting team, and executives.
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