Home Business Software 7 Best Construction Accounting Software Tools | Reviewed and Compared for 2023
Aleksandar Stevanovic Senior Writer Author expertise
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The best construction accounting software gives you a clear overview of your inventory, lets you make purchase orders, pay your suppliers and employees, and send invoices with a single click.

We’ve reviewed and compared the most popular construction accounting software applications and put together a list of the top 7 accounting software for construction. Read on to learn how providers like Zoho Books, Oracle NetSuite, and QuickBooks can help you automate accounting, save valuable time, and ensure the accuracy of your books.

Best Construction Accounting Software in 2024 | Top 7 Shortlist

There are dozens of accounting software solutions on the market, providing different functionalities at various price levels. Our research has revealed that Zoho Books is the best accounting software for construction companies, thanks to its advanced inventory tracking capabilities. Here’s a quick breakdown of the top apps:

  1. Zoho Books — The Best Accounting Software for Construction Companies Overall | Create Your Free Account Today to Test It In Practice Risk-Free
  2. Oracle NetSuite — Cloud-Based Accounting Software With Real-Time Transactional and Financial Data
  3. QuickBooks — Robust Construction Accounting Software With Superb Inventory Management Functionality | Start Your 30-Day Free Trial Today
  4. Sage — Feature-Rich Construction Accounting Software That Eliminates the Need for Manual Data Entry
  5. FreshBooks — Popular Accounting Software Solution With Excellent Project Management Tools
  6. Xero — Excellent Construction Accounting Software That Lets You Convert Custom Project Proposals Into Invoices With One Click | Start Your 30-Day Free Trial Today
  7. Hello Bonsai — All-in-One Accounting Suite With Built-in Time and Task Tracking Features | Try It Free for 14 Days

The Top 7 Accounting Software for Construction Firms | Reviewed

To help you make an informed decision, we’ve put together in-depth reviews of the best accounting software solutions on the market. Read on to learn more about their features, pricing plans, pros & cons, and see how different providers compare.

1. Zoho Books — The Best Accounting Software for Construction Companies Overall

Zoho Books is a feature-rich online accounting software solution that helps you automate mundane accounting tasks, streamline your workflow, facilitate collaboration, and manage all financial aspects of your business from one dashboard.

Zoho Books Construction Accounting Software

When it comes to managing expenses, Zoho Books lets you track and categorize every expense, upload receipts, and create a recurring profile for regular expenses, so they’re automatically recorded for you.

You can also leverage the app to place and manage purchase orders effortlessly. Since everything is tracked, you won’t have to worry about transaction discrepancies and will be able to track every order placed, down to the very last item.

You’ll also be able to customize each purchase order, add your company logo, and convert purchase orders into bills with a single click.

Another crucial feature for construction firms is inventory management. Zoho lets you easily organize your inventory with SKUs, product images, vendor details, and cost, so you’ll always know exactly what items you have on hand and in what quantities.

The app also ensures you never run out of stock, thanks to low inventory alerts. This way, you’ll never have to worry about your employees idling on the construction site while you’re reordering materials.

Another reason to opt for Zoho Books is the advanced document management system. The auto-scan feature captures all document info, so you can turn your documents into bills and invoices with a single click.

This helps you match files with transactions, makes your accountant’s life easier, and allows you to save, organize, and easily retrieve all crucial work documents (permits, contracts, purchase orders, invoices, etc.).

Pros

  • Cloud-based software compatible with all operating systems
  • Intuitive, easy-to-use dashboard
  • Allows you to create invoices with one click
  • Gives a clear overview of all business expenses
  • Over 50+ business reports

Cons

  • Limited integration with non-Zoho apps
Pricing Key Features Free Trial Money-Back Guarantee
From €10 ($10.38) per month, billed annually Invoicing

Estimates

Expense Tracking

Inventory Management

Purchase Orders

Document Management

Vendor Portal

Free plan available

14-day free trial for paid plans

30 days for monthly subscriptions

45 days for annual subscriptions

 

2. Oracle NetSuite — Cloud-Based Accounting Software With Real-Time Transactional and Financial Data

Oracle NetSuite is a cloud-based accounting software solution that allows you to improve financial control, manage your payables and receivables, and generate statements to ensure your business meets financial compliance requirements.

Oracle NetSuite Construction Accounting Tool

With Oracle, you’ll have real-time insights into your financial data and can review your inventory, pay your suppliers/vendors, and track your expenses from a single dashboard.

Since the app tracks every financial transaction, it ensures that you don’t miss a single dollar for tax deductions, allows you to easily reconcile account statements, and eliminates the need for manual data entry.

Oracle also facilitates tax filing by generating detailed reports and letting you analyze every transaction, down to the line-item tax details. It also helps you handle local and international taxes, including everything from GST and VAT to general taxes for purchased materials.

Another advantage of Oracle NetSuite is the fact that it offers a dedicated mobile app, so you can access your dashboard in the office, while you’re on the go, or even from a particular construction site.

Pros

  • Records all financial transactions
  • Eliminates the need for manual data entry
  • Generates detailed reports and provides valuable financial insights
  • Facilitates tax filing
  • Ensures your suppliers/vendors are paid on time

Cons

  • Doesn’t offer a free trial
  • Limited basic customer support (priority support costs extra)
Pricing Key Features Free Trial Money-Back Guarantee
Custom quotes for each client Accounts Receivable

Accounts Payable

Tax Management

Vendor Management

Invoicing

Reporting and Analytics

Payroll and HR

N/A No info available regarding refunds

 

3. QuickBooks — Robust Construction Accounting Software With Superb Inventory Management Functionality

QuickBooks is a simple, easy-to-use online accounting software that lets you track all expenses, create custom invoices, and manage your cash flow with greater accuracy and confidence.

QuickBooks Construction Finance Software

Since the app is cloud-based, you can access it from anywhere, using your desktop PC, laptop, or mobile phone. You can also distribute access privileges and allow your colleagues and accountants to review the data, input information, and manage your books.

The number one reason we’d recommend QuickBooks for contractors is the app’s superb inventory management functionality. QuickBooks lets you keep track of four types of items — inventory items, non-inventory items, services, and bundles. It also provides valuable inventory insights, notifies you of low stock, and lets you track inventory by item and date.

This is indispensable for materials management, given that you’ll be able to view your stock in seconds rather than having to make a bunch of phone calls or visit a particular construction site yourself. Smart inventory management also eliminates the risk of running out of construction materials and having your workers idling while you restock.

Another key feature this accounting program software offers, is instant financial reporting, which provides you with a 360-degree overview of your business’s performance. You can even filter the data by project and location for easy comparison between different sites.

You can leverage QuickBooks to create custom reports, balance sheets, and cash flow statements, as well as keep track of overdue invoices. This will make your accountant’s life much easier and help ensure your books are up-to-date.

Pros

  • Easy-to-use, cloud-based accounting software compatible with all devices and operating systems
  • Superb cloud security
  • Custom invoices, reports, and balance sheets
  • Automated expense and purchase tracking and tax calculation

Cons

  • Limited to six users maximum
Pricing Key Features Free Trial Money-Back Guarantee
From $5.10/month Invoicing

Expense Tracking

GST and VAT

Bank Feeds

Inventory Management

Financial Reporting

Multi-Currency Support

30 days 60 days

 

4. Sage — Feature-Rich Construction Accounting Software That Eliminates the Need for Manual Data Entry

Sage is a cloud-based finance and accounting software for growing businesses that lets you automate payroll runs, manage your inventory with ease, and ensure the complete accuracy of your tax returns.

Sage Construction Accounting

With Sage Accounting, you’ll have full control over your inventory. This includes everything from managing your stock and setting purchase orders to organizing products by categories and generating meaningful inventory reports. This lets you see all your stock levels and react in time so you don’t run out of key construction materials and cause your business to halt.

Another key feature of Sage Accounting is bank reconciliation, which lets you import receipts, automatically match transactions, and improve accuracy. The software eliminates the chance of human error, spots any fraudulent activity instantly, and gives you full control over your cash flow.

Additionally, Sage saves you a ton of valuable time by automating payroll, automatically calculating and submitting VAT, and matching your financial data to invoices, payments, and purchases.

The best part about Sage Accounting is that you can try it for free for a whole six months before committing to a monthly or annual subscription. The offer applies to all three of their pricing plans, so you can test out all of Sage’s advanced features and see if it’s the right software for you, risk-free.

Pros

  • Automates the bulk of mundane accounting tasks
  • Provides a clear overview of your inventory and sends low stock alerts
  • Lets you connect your bank to create an automated bank feed
  • Allows you to use filters and a search function to easily find specific transactions, amounts, and contract references

Cons

  • Complex, so your staff will likely need training to use Sage effectively
Pricing Key Features Free Trial Money-Back Guarantee
Free plan for 6 months, then from $8.40 monthly Accounting and Payroll

AutoEntry

Bank Reconciliation

Billing

Invoicing

Stock Management

Tax and VAT

30 days, provided that the “6 months free” offer has expired 60 days

 

FreshBooks is an invoice and accounting software designed to help businesses save valuable time and ensure the complete accuracy of their financial statements.

freshbooks multi-platform

In addition to customized invoicing and expense tracking, FreshBooks allows you to track time spent on different projects down to the last minute. This is crucial if your company is operating on a construction site as a contractor and your employees are getting paid by the hour.

The app also has excellent project management features, making it easy to juggle multiple projects simultaneously and ensure all your field teams are on the same page. This feature is a life-saver for project managers since it greatly facilitates shift scheduling and contractor collaboration.

FreshBooks is a great choice for companies that hire seasonal workers as well since it makes it easy to connect new workers into the system and automatically pay invoices.

One thing that’s sorely lacking is inventory management, so we wouldn’t recommend FreshBooks to construction companies without a dedicated inventory manager.

You’d still have to keep track of your stock and make purchase orders manually, although the app can record every transaction made from your business account, so you’ll still have clear insight into your expenses.

Pros

  • Time tracking down to the minute
  • Auto-categorization of expenses
  • Automated payroll
  • In-depth financial reporting
  • Project management tools that let you organize shifts and manage multiple sites with ease

Cons

  • No inventory tracking or vendor management
Pricing Key Features Free Trial Money-Back Guarantee
From $6.00/month Accounting

Bookkeeping

Expense Tracking

Invoicing

Time Tracking

Project Management

Payroll

30 days 30 days

 

6. Xero — Excellent Construction Accounting Software That Lets You Convert Custom Project Proposals Into Invoices With One Click

Xero accounting software helps you manage your cash flow, send quotes and proposals, track your expenses in real time, and ensure you stay tax compliant.

Xero Construction Accounting for Small Businesses

The app allows you to create custom quotes based on project size and convert them into invoices with a single click. You can use pre-made invoice templates, add your company’s logo to invoices, and fully customize every field, including descriptions of services, unit prices, billable hours, and more.

Another reason to opt for Xero as a construction business is advanced project tracking. The app lets you see the time spent on different tasks and projects, all expenses related to a particular site, and associated labor costs.

The app also offers advanced inventory management functionality, letting you keep an eye on your stock levels in real time, create purchase orders with one click, add items to invoices, and import/export inventory details.

In addition to automating mundane accounting tasks and facilitating project management, Xero also features online file storage that makes it easy to securely store and search for key documents, permits, contracts, bills, receipts, and other files necessary for the smooth running of your construction company.

Pros

  • Allows you to create customized proposals and convert them to invoices with one click
  • Tracks time spent on different projects and specific tasks
  • Offers advanced inventory management and makes sure you never run out of stock
  • Securely stores all your key business files on the cloud

Cons

  • Expensive
  • Integration with other apps is a paid feature
Pricing Key Features Free Trial Money-Back Guarantee
From $25/month Expense Tracking

Bank Connections

Project Tracking and Management

Online Payroll Runs

Data Capturing

Online File Storage

Inventory Management

30 days Xero has a strict no-refunds policy

 

7. Hello Bonsai — All-in-One Accounting Suite With Built-in Time and Task Tracking Features

Hello Bonsai is an all-in-one accounting suite that helps you streamline every aspect of your business, from proposals and contracts to invoicing and taxes.

Hello Bonsai Construction Accounting Software UK

The app lets you create structured proposals with clear timeline estimates using professionally designed templates, which you can fully customize to ensure they align with your firm’s branding. You can also leverage contract templates to draft professional contracts on the spot and fast-track deals so you can get on the field as fast as possible.

Hello Bonsai also includes smart time tracking, making it easier to keep track of worker shifts and ensure everyone’s paid the correct amount, whether they’re paid by the hour or on a project basis.

In addition to time tracking, you can also track individual tasks to see exactly how much time different projects take and ensure your field workers are productive so you don’t miss the agreed-upon deadlines.

Hello Bonsai also automates expense tracking, makes it easy to keep track of tax write-offs, lets you track your profit, and gives you full control over your finances, so you can focus on other critical tasks.

Pros

  • Professionally designed templates for proposals, contracts, and invoices
  • Time tracking and task tracking features that facilitate workforce management and ensure everyone gets paid the correct amount
  • Automated expense tracking with profit/loss margins
  • Tax estimates, due dates, and write-offs

Cons

  • No inventory management
  • Only available in English
Pricing Key Features Free Trial Money-Back Guarantee
From $24/month Pre-Vetted Professional Templates

Time Tracking

Project Tracking

Expense Tracking

Accounting and Taxes

14 days 14 days

 

The Best Financial Software for Construction Companies | Compared

Accounting Software Pricing Key Features Free Trial Money-Back Guarantee
Zoho Books From €10 ($10.38) per month, billed annually Invoicing

Estimates

Expense Tracking

Inventory Management

Purchase Orders

Document Management

Vendor Portal

Free plan available

14-day free trial for paid plans

30 days for monthly subscriptions

45 days for annual subscriptions

Oracle NetSuite Custom quotes for each client Accounts Receivable

Accounts Payable

Tax Management

Vendor Management

Invoicing

Reporting and Analytics

Payroll and HR

N/A No info available regarding refunds
QuickBooks From $5.10/month Invoicing

Expense Tracking

GST and VAT

Bank Feeds

Inventory Management

Financial Reporting

Multi-Currency Support

30 days 60 days
Sage Free plan for 6 months, then from $8.40 monthly Accounting and Payroll

AutoEntry

Bank Reconciliation

Billing

Invoicing

Stock Management

Tax and VAT

30 days, provided that the “6 months free” offer has expired 60 days
FreshBooks From $6.00/month Accounting

Bookkeeping

Expense Tracking

Invoicing

Time Tracking

Project Management

Payroll

30 days 30 days
Xero From $25/month Expense Tracking

Bank Connections

Project Tracking and Management

Online Payroll Runs

Data Capturing

Online File Storage

Inventory Management

30 days Xero has a strict no-refunds policy
Hello Bonsai From $24/month Pre-Vetted Professional Templates

Time Tracking

Project Tracking

Expense Tracking

Accounting and Taxes

14 days 14 days

Why Your Construction Business Needs Accounting Software in 2024

Accounting software enables you to manage your company’s finances with greater accuracy, helps ensure all your contractors and suppliers are paid on time, and makes filing tax returns a much more manageable endeavor.

Most software accounting programs also automate the bulk of dull admin tasks, save you valuable time, eliminate human error, and make time tracking and shift scheduling infinitely easier.

Here are the main benefits of construction software programs:

  • Customizable templates for proposals, contracts, and invoices
  • Inventory management with low stock alerts
  • Project management, time tracking, and task tracking
  • Automatic tax calculation
  • Bank reconciliations
  • In-depth financial reports with dozens of key metrics

Accounting software is especially useful if you’re running multiple construction sites, working together with multiple different companies or contractors, and doing your own taxes.

Considering the amount of time it saves and the wealth of data a construction accounting software tool provides, it’s more than worth the investment for any company in the construction industry.

How to Choose the Best Construction Accounting Software for Your Company

Which accounting software will be the best for your business largely depends on your business needs. While most of the apps we covered in this guide cover the basics, such as invoicing, tax filing, and expense tracking, some apps offer advanced functionalities that your company will surely benefit from.

Here are the main factors to consider when choosing accounting software for your business, and the criteria we used to assess our providers above:

  • Can you access the app from multiple devices (PC, laptop, mobile)?
  • Does the app offer inventory/stock management functionality?
  • Can you create custom proposals, contracts, invoices, and purchase orders?
  • Can you connect your business bank account to the app and automate the bank feed?
  • Does the app integrate with other software you’re using?
  • Will the app streamline your workflow and facilitate project management and shift scheduling?

We firmly recommend choosing one or several providers that offer free trials of their accounting software, testing different options in practice for at least a month, and then choosing the app that performs the best for your business.

Construction Software FAQs

What Is Construction Accounting Software?

Is Construction Accounting Software Secure?

How Much Does Construction Accounting Software Cost?

What’s the Best Accounting Software for a Construction Business?

What’s the Difference Between Construction Accounting and Regular Accounting?

Conclusion | What’s the Best Construction Accounting Software in 2024?

There are dozens of great accounting software solutions on the market, some better geared for the construction industry than others. We’ve reviewed and compared the best ones to save you valuable time and help you make an informed decision.

Here’s a reminder of the top seven construction accounting solutions in 2024:

  1. Zoho Books — The Best Accounting Software for Construction Companies Overall | Create Your Free Account Today to Test It In Practice Risk-Free
  2. Oracle NetSuite — Cloud-Based Accounting Software With Real-Time Transactional and Financial Data
  3. QuickBooks — Robust Construction Accounting Software With Superb Inventory Management Functionality | Start Your 30-Day Free Trial Today
  4. Sage — Feature-Rich Construction Accounting Software That Eliminates the Need for Manual Data Entry
  5. FreshBooks — Popular Accounting Software Solution With Excellent Project Management Tools
  6. Xero — Excellent Construction Accounting Software That Lets You Convert Custom Project Proposals Into Invoices With One Click | Start Your 30-Day Free Trial Today
  7. Hello Bonsai — All-in-One Accounting Suite With Built-in Time and Task Tracking Features | Try It Free for 14 Days

Zoho Books is our number one choice, thanks largely to its advanced inventory management features, low stock alerts, accounting automation, and ease of use.

Create your free Zoho Books account today and test out the app in practice risk-free to see first-hand why it’s the #1 choice of hundreds of construction firms across the globe.

 

Aleksandar Stevanovic Senior Writer

Aleksandar Stevanovic Senior Writer

Aleksandar is a senior content writer with a passion for consistently writing in-depth articles on software-related topics, including Antivirus Software, VPNs, VoIP, CRM, Spy Apps, and Crypto.

Aleksandar has worked with reputable websites such as CEX.IO and NicheStack, further showcasing his commitment to providing high-quality content.

With nearly a decade of experience, he delivers valuable and well-researched pieces to his readers, establishing himself as a reliable authority in the industry.

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