Construction accounting software tracks the financial data of every construction project you complete. These systems keep track of your expenses (like the cost of materials and labor) and revenue, as well as invoicing and payroll. Every project you work on will have unique revenue and costs associated with it, so having a construction accounting solution instead of a general accounting system will help you evaluate ROI at a job-level.
A few of the core features in construction accounting software include:
|Job Costing||Assign costs to labor, equipment, materials, and subcontractors associated with each project.|
|Payroll||Manage wage calculation, direct deposit, and tax management for subcontractors and employees assigned to the project.|
|Core Accounting||Manage accounts receivable (income from the project), accounts payable (expenses from labor, equipment rentals, and materials), and a general ledger.|
|Financial Reporting||Create custom reports to visualize where your time and money is being spent for each project. Analyze expenses and net profit to see where improvements can be made to increase ROI.|