Top Features to Look for in Your Construction Accounting Software

Looking for construction accounting software that supports growth? Discover the essential features you need, including job costing, payroll compliance and analytics.

We understand that managing finances for a construction firm isn’t simple, especially when you start coming into the mid-to-large stage. You’re juggling multiple projects, subcontractors, strict regulations and complex multi-company structures — tasks that can quickly overwhelm most generic accounting software.

Choosing the right accounting software, tailored specifically to construction, can directly improve your company's profitability, efficiency and ability to grow. You need clear visibility into project finances and real-time data to make informed decisions quickly. After all, small oversights can rapidly escalate into significant costs in construction.

In this article, we'll highlight the essential accounting features you should prioritise. By knowing exactly what to look for, you'll be better equipped to select a solution that simplifies compliance, streamlines operations and lets you focus on running a successful construction business.

Essential Construction Accounting Software Features

When evaluating accounting software for your construction company, focusing on the right features can make a significant difference. Rather than getting distracted by unnecessary functionalities, concentrate on the core capabilities that directly support your day-to-day operations, simplify compliance and provide valuable financial insights.

Below, we’ve identified the most critical accounting features you should look out for, tailored specifically to the needs of growing construction firms like yours.

1. Cost tracking and job costing

Accurate job costing is crucial if you're serious about profitability and growth. Your construction accounting software should provide real-time tracking of all project-related costs, including labour, materials, equipment and subcontractor expenses. This visibility allows you to compare actual spending directly against your budget, helping you quickly identify any issues before they escalate into costly problems.

Additionally, detailed cost tracking makes it easier to generate accurate forecasts and estimates for future projects. When you clearly understand the true cost of your jobs, you're able to bid more competitively without sacrificing margins, ultimately positioning your firm for sustainable growth.

2. Payroll and subcontractor management

Managing payroll and subcontractors in construction isn’t straightforward, especially as your company continues to grow. You need accounting software that simplifies these complexities by automatically handling multiple wage rates, certified payroll requirements, and deductions such as CIS in the UK.

The ideal construction accounting software takes the stress out of compliance, making payroll effortless and accurate — whether you’re managing your own employees, subcontractors, or both. Automating payroll ensures your business stays compliant with industry-specific regulations, saving you from costly mistakes and freeing up your team’s time to focus on what matters most: completing projects successfully.

3. Contract and billing management

Billing in construction can quickly become complicated, especially as your projects and client relationships evolve. You’ll need accounting software that effortlessly handles various contract types, including fixed-price, cost-plus, and progress billing methods like AIA invoicing.

The right solution will streamline contract changes, automate retention tracking, and simplify payment applications, ensuring cash flow remains healthy. By automating these critical processes, you'll reduce administrative tasks, minimise billing errors, and maintain strong client relationships, all essential elements for a growing construction company.

4. Financial reporting and advanced analytics

When your construction firm is growing, instant access to clear financial insights can be the difference between profitable growth and costly mistakes. You’ll need construction accounting software with powerful reporting tools that deliver real-time visibility into critical metrics like job profitability, work-in-progress (WIP) status, and cost variances.

The best systems go beyond basic reports, offering customisable dashboards and analytics tailored specifically to construction businesses like yours. With these advanced capabilities, you're able to confidently identify trends, spot potential problems early, and make informed financial decisions that support sustained growth.

5. Multi-company and multi-location capabilities

If your construction firm operates across multiple companies, regions or even countries, managing finances can quickly become overwhelming. You need software that streamlines multi-company transactions, simplifies currency management, and effortlessly consolidates financial reporting. Might sound impossible… But they do exist!

The right accounting system for your growing construction company brings clarity to complex organisational structures, giving you a unified view of all your financial activities. With real-time consolidated reporting at your fingertips, you’ll save valuable hours, reduce administrative headaches and have the insights you need to support future expansion confidently.

6. Asset and equipment tracking

Construction assets and equipment represent significant investments, so effective tracking is essential. You need accounting software that accurately captures equipment usage, manages depreciation, and allocates costs directly to the relevant projects or jobs.

With comprehensive asset tracking built into your accounting system, you're able to ensure every piece of equipment is used efficiently, maintained proactively, and contributing positively to your bottom line. Instead of guessing where your resources are best allocated, you'll know exactly how to optimise utilisation and reduce unnecessary expenses.

7. Integration with project management tools

Your construction business likely relies on specialised project management tools such as Procore or Primavera. Integrating these with your accounting software creates a seamless workflow, reducing manual data entry and minimising costly errors.

A fully integrated solution means your financial and project teams stay in sync effortlessly. Project data flows instantly into your financial system, giving you reliable, real-time insights. You'll spend less time troubleshooting discrepancies and more time confidently steering your projects towards success.

8. Cloud-based vs. on-premise solutions

When choosing construction accounting software, deployment options do really matter. Cloud-based solutions offer flexibility, scalability and secure access from anywhere — particularly important if your team is spread across multiple sites or working remotely. They also reduce upfront costs and ongoing IT maintenance headaches.

On-premise solutions still have their place, particularly if your business has unique security or infrastructure requirements. However, modern cloud-based systems offer unmatched security features and so are increasingly popular among growing construction firms, offering greater agility and simplified management that supports long-term growth ambitions.

Comparing Popular Construction Accounting Software

We’ve highlighted the essential features your growing construction firm needs, but, really, choosing the right software means first comparing your options. Here’s a quick overview of each platform’s strengths and limitations:

• Sage Intacct Construction

Sage Intacct is specifically designed for growing construction companies like yours. It provides extensive integration with project management software, advanced analytics, multi-company support and seamless scalability. With an intuitive interface and automated compliance features, Sage Intacct simplifies complex financial processes, making it the ideal solution for your expanding business.

• Sage 50

Sage 50 is used primarily by smaller companies. It provides basic accounting capabilities, job costing and limited payroll features. However, it lacks the depth and scalability needed for growing construction businesses, especially those with multi-company or advanced reporting requirements.

• Viewpoint Vista

Viewpoint Vista offers extensive features, including robust job costing, payroll compliance and reporting capabilities. It generally suits larger construction firms but may be considered too complex to set up and maintain, especially for companies seeking straightforward implementation and overall ease of use.

• Acumatica

Acumatica’s Construction Edition offers cloud-based accounting functionality with decent analytics and multi-entity support. Although it may meet many requirements, it is relatively new to the market, resulting in fewer available integrations and less established customer support compared to other, more established options.

• COINS

COINS Construction Cloud is a comprehensive accounting and financial management solution for construction. It covers multi-company needs and asset management. However, users may find its setup process somewhat rigid, with less flexibility for adapting workflows to unique business needs.

Key Takeaways: Choosing the Right Software for Your Business

Choosing accounting software tailored specifically for construction will help you unlock greater efficiency, clearer visibility and stronger financial control. By focusing on core features — such as accurate job costing, payroll compliance, intuitive reporting, seamless integrations and support for multi-company structures — you’ll equip your team with the tools needed to sustain profitable growth.

Sage Intacct Construction will meet your requirements precisely, especially because it can be tailored to fit your unique business needs. Its cloud-based platform, user-friendly interface and advanced reporting capabilities simplify even the most complex financial processes. When you choose Sage Intacct, you’re choosing software that grows effortlessly alongside your construction firm.

If you’re ready to explore exactly how Sage Intacct can benefit your construction business, we’re here to help. Get in touch with us today and take the first step towards smarter financial management.

Book your free Sage Intacct Discovery Call here