Accounting software, often known as bookkeeping software, is used by businesses to keep track of their revenue and costs, and accounting software for online contractors is no exception.
It also conducts manufacturing tasks such as detailing receipts, maintaining construction finances, processing payments, managing supplier budgets, and adhering to tax rules and union requirements.
Contractor accounting software is also accessible on the go and on-site. There is a lot of bookkeeping software available online, but not all of the softwares caters to the demands of contractors. However, you may research services online to learn more about the ideal online bookkeeping software for your contracting needs. Here are some of the best online contractors bookkeeping software options for you to consider.
1. Sage 100 Contractor
This tool is recognized as the best construction accounting software. It provides accounting, personnel services, project management, forecasting services, budget reporting, and property investment software, among other services.
Contractors with little to no accounting knowledge may use Sage 100, and the company offers free training and workshops to assist clients to discover more about the software and how to link it with other applications like QuickBooks. Export budgets, track overtime hours, integrate projections, and access to real-time data are just a few of the features. The pricing for one user is $115 a month, but it can go further depending on the services you need and the number of users you have.
CMiC is a web-based accounting and financial intelligence application that is hosted in the cloud. It has several characteristics that make it a good match for small enterprises and contractors as well as huge corporations. Accounts receivable and payable, general ledger, optimized expenditure tools, managing cash flow, and budgeting are among the features.
3. CoConstruct + QuickBooks Online
CoConstruct is a cloud-based construction management system that is widely utilized by small to medium construction companies that also use QuickBooks Online. It has a variety of capabilities, including budgeting and timesheets, as well as cost tracking and pitches, like many other cloud solutions.
Construction managers may use a web browser or an iOS or Android smartphone to access the software, just like they can with other cloud-based solutions. Furthermore, the service costs about USD 100 each month, making CoConstruct an appealing option for many firms, with the inclusion of a QuickBooks subscription.
4. Acumatica: The Cloud EPR
This software is aimed at small and medium-sized enterprises, such as general and specialist construction companies, as well as distribution, industrial, e-commerce, and retail firms. It is cloud-based and provides users with an app with a user license model that is all-inclusive.
The software requires no accounting background to use, and it integrates effortlessly with other programs such as DocuSign, Microsoft Office, and Procore. It includes payroll services, as well as the ability to manage income and costs across several job locations.
5. RedTeam Software
Red Team is another accounting software that includes other products, such as QuickBooks Online, Sage, and DocuSign. Accounts receivable and payable, paperless invoice approvals, cost-plus billing, estimates, change orders, and other features are also included.
RedTeam is valued at $4,740 per year for an ACV of $2 million or less. For detailed facts and features, you’ll need to contact the firm. The software also integrates with construction management platforms such as PlanGrid and BIM 360.
Contractors will be able to store reports and financial data in one location, including receipts. Thanks to the mentioned bookkeeping software. These sets of software will aid in the calculation of accounts payable and receivable, as well as per-job expenditures and income. It may computerize payroll, enforce adherence to tax and labor rules, and boost efficiency.