Construction Accounting Software Roundup
Disciplined, accurate accounting is one of the key components of even successful construction business. In an effort to avoid costs, many small construction businesses turn to "all-in-one" construction accounting software offerings and manage their books themselves. In this blog post we'll be exploring a few of the more popular offerings and their benefits and drawbacks.
The undeniable king of small business accounting, QuickBooks is a popular choice for contractors looking to handle their accounting in-house. Intuit revolutionized the field of do-it-yourself accounting with their simple interface, low pricing and abundant help options. It's for this reason that our own software, JetStream, integrates directly with QuickBooks.
QuickBooks's prolific presence is reason enough for many contractors to sign on with them. Benefits of using QuickBooks include its low pricing, widespread use and its software integration options.
Coming in a distant second in terms of popularity, Peachtree is another accounting package we frequently see contractors using. It has an approachable, easy to learn interface and shares QuickBooks's concept of "centers" , central hubs that allow you to easily manage your company's books.
Peachtree implements what some would describe as a more stringent form of accounting. While QuickBooks accommodates non-accountants with a forgiving, open transaction system, Peachtree uses features like period segmentation that take some learning but lead to less reporting headaches.
Freshbooks entered the accounting software scene in 2004 with a focus on invoicing. They've expanded to cover many common construction software features like estimating, expenses, balance sheets and customer management.
While not billed as a full-fledged accounting program, many contractors use Freshbooks to make billing clients and receiving payments easier and more streamlined.
There are a host of other construction accounting software programs in the market today, with some even being made specifically for the industry. The forerunner in this area is Foundation for Windows construction accounting software. Contractors looking to grow or expand their business with a beefy, specialized accounting package would do well to give them a look.
That concludes this week's roundup of construction accounting software. Think we missed one? Leave your comments below!