7 Best Construction Cost Control Software for Small Contractors

The challenge lies in picking the software that meets your business needs and is easy to use and implement. Janet Berry-Johnson, CPA, is a freelance writer with over a decade of experience working on both the tax and audit sides of an accounting firm. She’s passionate about helping people make sense of complicated tax and accounting topics. Her work has appeared in Business Insider, Forbes, and The New York Times, and on LendingTree, Credit Karma, and Discover, among others.

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This isn’t something most accounting systems offer, and it’s not something many contractors even know is possible. At CrewCost though, we knew it’d be a game changer for contractors, so we made it happen. Our platform can easily integrate into your favorite CRM, so your field and office teams can bridge costly communication gaps and collaborate on a more meaningful level. The problem is, cost codes and cost types aren’t something you should have to wait on. A good construction accounting solution will allow you to plug and play right out of the box, no workarounds needed.

Rise Above Industry Challenges

• Managing multiple projects simultaneously can lead to cash flow issues and difficulty in tracking project-specific expenses.
• A construction business with gross receipts under $10 million can use the completed contract method on construction projects that last less than two years.
• Cooper Norman is prepared to offer industry specific services to meet your business’s construction accounting needs.
• This helps us to manage your construction industry accounting requirements with ease.
• The real-time dashboard provides a comprehensive overview of the metrics relevant to your role and is easy to customize.

You’ll have a clear overview of project cost forecast, committed costs, cash flow, profitability forecast, and more—all the data you need to run a successful project cost-control meeting. Improper tracking of payments can lead to compliance issues and inaccurate job costing. Implement systems to accurately track and report all payments to employees and contractors. Proper expense categorization is crucial for accurate job costing and financial reporting.

Why Construction Companies Should Consider Outsourced Accounting

The next function layer is the Procore analytics feature that works with the specialized app marketplace filled with third-party solutions that integrate with Procore. The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence. We use product data, strategic methodologies and expert insights to inform all of our content and guide you in making the best decisions for your business journey. Your business isn’t like the other mom-and-pop shops on Main Street, so why keep trying to squeeze it into the same box? You deserve an out-of-the-box accounting solution tailor-made for your company’s unique needs – not one that limits your growth potential.

• The first is the Essential plan starting at $199  for the first month, which then moves up to $499 per month.
• Business owners invest a lot in their companies to help them become successful.
• Cost allocation ensures all expenses are accurately assigned to the correct projects, providing a clear picture of project profitability.
• This process helps contractors understand the profitability of each project and make informed decisions about resource allocation and pricing.

Sage Intacct Construction and Sage Intacct Real Estate

• Outsourced construction accounting provides you with expert financial management, freeing you to focus on growing your business and meeting your project deadlines.
• Technology Driven Approach – We use cutting-edge bookkeeping applications and tools to increase productivity and provide instant insights into your financial data.
• It even allows you to invite owners to collaborate on change orders to fully understand what is required by them before you put resources to work.
• In today’s economy tracking the rising costs of materials, labor, and overhead is more important than ever.
• These tools often include features for job costing, financial statements, progress billing, and WIP reporting.
• Ready to see what can happen when you use an accounting platform built by contractors for contractors?

Our expert construction advisors will guide you through complex financial decisions and situations to help you minimize taxes and maximize growth. Consulting services vary in scope and complexity depending on the current stage of your business life cycle and your short-term and long-term objectives. From financial reporting, profit analysis and strategic planning, The Role of Construction Bookkeeping in Improving Business Efficiency we can help you chart out your next course of action. The platform hosts accountants with an average of 12 years of industry experience. The opportunity to have the same Pro manage both your bookkeeping and taxes ensures consistency and deeper financial insights. Additionally, their comprehensive service includes the ability to have prior-year bookkeeping cleaned up.