Last editedJul 20222 min read
Being able to run your business from anywhere is a huge bonus for anyone in the construction industry. The work could be anywhere, and you will often be sorting admin for one job while on the site of a different project. Good construction accounting software helps you stay on top of everything and build your business the right way.
Using accounting software for a construction company enables you to work your way, whether you are on site or at home, or even on the road. There are many accounting software options out there, so here we have gathered four of the best construction accounting software packages that include practically everything you need. Our four favourite construction accounting software brands are:
Xero construction accounting software
The Xero accounting software for trade and construction lets you send quotes and invoices, track expenses and manage all your jobs from your phone. Use this construction accounting software to capture expenses, accept payments and view the current state of your cash flow from anywhere.
The quote creator lets you customise your quotes and then convert them into invoices with a single click. The invoice template has been designed for construction accounting and financial management, helping you track accounting records for multiple projects. Track time as well as costs and expenses, and stay informed on profit margins and outstanding invoices.
Use the Xero accounting software to submit VAT returns and stay compliant with HMRC’s Construction Industry Scheme (CIS) and domestic reverse charge VAT. Also, save time by filing your tax returns directly to HMRC from the Xero app.
Sage construction accounting software
The Sage construction accounting software helps you stay in control of your cash flow. It helps you make more informed business decisions using accurate forecasts that show what money is coming in and going out of your business. The actionable insights feature of the Sage app also helps you get paid faster.
Use Sage to manage payrolls and payments, making sure your workers get paid on time every time. Automatically calculate deductions and taxes, and track payments, whether your workers are using Sage Payroll or standard subcontractor invoices.
Procore construction accounting software
Procore is another of the best construction accounting software packages. It is a cloud-based construction management platform with extensive features covering the complete lifecycle of a construction project.
The Procore products are deeply integrated software, and the user experience is streamlined to provide a centralised access point to all the information related to a project. The integrated features include accounts payable and accounts receivable, as well as billing and invoicing. There is also a budgeting and forecasting feature, a purchase order management section, and useful job costing and payroll management tools.
CoConstruct construction accounting software
CoConstruct is an excellent construction accounting tool for construction companies, tradespeople, builders and remodellers. It aligns with QuickBooks so you can easily keep track of all your bills and invoices as well as keep on top of budgets.
Use CoConstruct to manage your purchase orders and oversee job costing and estimates. The software uses a one-touch financial system so you can make a change to one part of your budget, schedule or estimate and it will automatically adjust all other relevant data.
There is no payroll management tool on CoConstruct, but it does feature accounts payable and receivable plus billing and invoicing tools. You can also plan a budget and run a forecast, as well as manage your purchase orders.
We can help
GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.
GoCardless is a better way to take payments, and is great for both one-off and recurring amounts. A business can get paid up to twice as fast by accepting GoCardless payments on their online invoices.
GoCardless also partners with major accounting software companies such as Xero and Zoho. By using GoCardless with your accounting software, you can automatically collect payments on their due date, and have this amount reconciled immediately.