Construction Technology Solutions & Support

Construction project accounting presents unique challenges, especially for general contractors. Some of these challenges include but are not limited to, accurately tracking job costs, managing complex payroll requirements, and maintaining real-time financial visibility across multiple projects. Basic bookkeeping software like QuickBooks fails to provide the necessary tools for managing the intricate financial details of construction projects, from budget forecasting to overhead allocation and cash flow management. These applications also struggle to provide real-time financial updates, leading to delayed project cost information, inaccurate profitability analysis, and compromised decision-making.

A cloud-based ERP solution will address these challenges by offering financial management tools that connect all aspects of construction accounting operations. Integrated features for job cost accounting, payroll processing, and real-time financial tracking help maximize profitability and streamline fiscal operations. Mobile accessibility ensures that teams can access critical financial information from any location, while advanced budget management tools provide accurate forecasting and cost control across multiple projects. Utilizing a cloud solution grants you the ability to integrate with industry-standard accounting applications and provide unlimited user access. This enables construction companies to maintain tight financial control while scaling operations efficiently.

Specialty trade contractors face many complexities revolving around connecting project and financial management that basic accounting software cannot adequately address. Traditional systems fail to handle the intricate needs of trade-specific operations, from managing certified payroll and AIA billing to tracking specialized inventory and equipment costs. Many firms particularly struggle with disconnected systems that create communication gaps between field operations and accounting, leading to delayed billing cycles, inaccurate job costing, and compromised cash flow management.

Utilizing a cloud-based construction accounting ERP solution tailored for specialty trade contractors addresses these difficulties by providing financial management tools that utilize field operations paired with back-office accounting.  You will also find that a cloud solution supports critical functions through automated compliance management, specialized billing capabilities, and real-time inventory tracking across multiple locations. Whether serving as subcontractors on larger projects or providing direct services to customers, specialty trade contractors can leverage these integrated financial tools to maintain tight control over project costs while scaling their operations efficiently.

A cloud-hosted solution’s ability to handle both construction project accounting and service management enables contractors in various trades to manage their entire business through a single platform, eliminating data silos and providing enhanced visibility into financial performance. This ensures that as your firm grows, you will be able to scale your financial tracking and reporting capabilities and maintain accuracy.

Multi-discipline AEC contractors encounter routine accounting challenges that unfortunately exceed the capabilities of run-of-the-mill financial software systems. In fact, traditional accounting software struggle to handle the complex interplay between design services, engineering operations, and even construction activities. This disconnect is a contributing factor that leads to disjointed financial data and inefficient cross-departmental billing. Contractors may particularly struggle with maintaining financial visibility across various service offerings as they attempt to ensure accurate project accounting across all avenues.

However, a cloud-based construction ERP solution can help eliminate these challenges. As it can be specifically designed for AEC contractors, this software addresses these setbacks by providing an integrated platform that unifies financial management across all service disciplines. Real-time financial tracking across architecture, engineering, and construction activities are a key feature, all while maintaining distinct cost centers and billing requirements for each service type. Fortunately, these comprehensive project accounting features will support the complex billing arrangements common in AEC firms, from milestone billing for design services to progress billing for construction work. Switching to the cloud grants you the ability to handle both professional services and construction accounting, which ensures that multi-discipline firms can accurately track profitability across all revenue streams while maintaining regulatory compliance for each service type.