Larger companies will more often than not find comfort in the use of somethign built for their industries, while a small business may be able to pick freely depending on their budget.
What is the difference between construction management software and construction accounting software? A construction management software will have more of a focus on non-accounting features such as estimating, scheduling, and project management. A construction accounting solution will focus more on reporting, financial statements, and job costing. A construction management software may sometimes lack a traditional accounting setup of accounts payable, accounts receivable, and a general ledger.
This will require you to use a secondary solution for accounting. A construction accounting solution can sometimes be defined as an accounting solution designed to be used by a construction company. Rather than having two standalone solutions that work together, all-in-one tools will provide the benefits of both.
A large percentage of construction software options will include accounting as either a core or optional feature. Likewise, a solution may be marketed as construction accounting software but will include non-accounting features such as estimating, scheduling, and project management. Depending on the size of your business or the types of projects being handled, you may look towards more advanced solutions.
Job costing will be the most important feature to help you manage your basic construction accounting. Most entry-level accounting solutions should offer some sort of costing functionality. A small contractor may be able to survive using industry-neutral software such as QuickBooks or Xero , but may find themselves limited.
Growing construction businesses should desire a more in-depth estimating tool and some level of bid management. These specialized options will also have vendors who specialize in implementing their software into construction environments.
Larger construction enterprises may specialize in a specific field and need specialized software to meet their needs such as a large commercial real-estate developer, or a civil contractor. They may also have multiple entities with a need for many end-users. These enterprise-level organizations should look into a fully-integrated construction ERP solution that provides every accounting and management tool necessary to run their day-to-day operations.
QuickBooks can be used as a construction accounting software given the availability of invoicing, job costing, and reporting features. You can monitor spending and make for each job, upload photos of receipts, and tag hours and expenses to jobs. Optional payroll features let you manage your contractors and save time on s, W-9s, and tax ID inputs. Construction companies looking to use QuickBooks for construction accounting will need to choose a version that includes QuickBooks Projects , which includes the job costing feature.
I use it for client invoices, change orders etc… keeping track of subs costs on each job, overages on jobs for materials. It is a powerful tool that used properly will help your business with paper trails. You are pretty much breaking things down into categories and then into sub categories. So if you want to know how much you spent on subcontractors… … [or] want to know how much you spent on subcontractors for job A, Job B, and Job C, you can.
This includes up to 5 users. Our QuickBooks Alternatives study surveyed over 4, cases of QuickBooks users searching for replacements. Common functionality requirements for contractors replacing QuickBooks included better job costing, project management, equipment management, bid management, and field service management.
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For small projects, an experienced contractor can come up with a quick estimate in his or her head. For large projects that require detailed bids, the process requires much more due diligence to achieve an accurate cost estimate. To create these estimates, the contractors and their subcontractors must determine the quantities and cost of all of the materials, equipment, and labor, for their work, which usually begins with generating a takeoff list using information found in the bid package.
Takeoff also construction take off or take-off refers to the quantities and amount of labor required to complete a construction project. Gathering this information uses a process in which estimators use project blueprints to determine the amounts and types of each material and the labor necessary for each section of the project they are responsible for. The takeoff list is then used to create the cost estimate and the project bid. To save time and money, contractors, builders, and anyone who frequently makes cost estimates for projects or bids on construction contracts can use technology to manage the estimating and bidding process.
This portion of the guide will provide an overview of this software and how it can be used in the construction bidding, estimating, and takeoff processes. Construction estimating software is cloud or desktop technology designed to streamline and improve the process of creating cost, material, and labor estimates for construction projects.
Construction estimating software is available in many varieties, ranging from simple spreadsheet templates to online collaborative software with many features that optimize much more than the estimating process. Contractors should also consider that some software is also designed with specific subcontractor trades in mind, including capabilities that are specific to electricians or HVAC contractors, for example.
Other products may be designed for general contractors or with no specific trade in mind. As we covered above, the bidding, estimating, and takeoff processes are all very closely related and intertwined.
Recall: contractors and subcontractors use project blueprints and bid documents to perform takeoff and then use that information to create construction cost estimates. These estimates are then used to create project bids, or work proposals. Most often, however, these products are separate tools, offered by different companies. Typically, software providers will brand themselves in the following terms:.
Which type of tool fits your business needs depends on how you manage the bid process and whether certain elements of the process need specific improvement. Estimating software companies can give customers access to their technology in one of two ways—either by 1 installing the software on computers or servers that the buyer owns, or 2 providing access to the tool online, via web browsers and mobile devices. The installed products are often referred to as on-premise.
These tools are either downloaded on each computer that will use the product or installed on company servers that distribute the program to employees. Many companies these days, however, are starting to offer software that is accessible online with web browsers. These products may sometimes be called cloud or web-based. There are many benefits to choosing an online estimating software, particularly for convenience of access.
Software that is served to users online can be accessed on any device with an internet connection. Some advanced products will even allow offline access via local applications, which sync data when an internet connection is available. Unless your business has a reason to choose an on-premise estimating solution, we prefer tools that are accessible online because of the convenience they provide.
Rather than needing to be at your office or on a device with a connection to your company servers, you can connect via any device with a web connection. Online products are also more easily updated than on-premise products. In fact, online products are automatically updated for every user whenever the estimating software developer updates their product.
One inconvenience of using an on-premise estimating tool is that it will usually have to be manually updated either by re-downloading or by a technical representative of the company who produced it.
In most cases, it also means an additional annual fee to continue receiving updates from the provider. Even though online estimating software provides many conveniences, users should consider both and pay more attention to the specific features that the products provide than the way they are deployed.
If your business has specific security needs, an on-premise product could be right for you. The power of an estimating software lies in the features that improve the estimating, takeoff, and bidding processes for users.
Not all users need a software loaded with features, but rather just want a product that helps tackle a few specific challenges. This section reviews the most important features that contractors should consider when choosing between estimating software companies. Different software companies will package and design these features differently, so buyers should ask company representatives about the details when certain features are critical.
Above, we detailed the different steps of the bidding process: takeoff, estimating, and bidding. Here, we cover some of the features that software can offer to improve the takeoff process for contractors and subcontractors. Often, digital takeoff capabilities are sold in separate software packages from the estimating tools because they are advanced capabilities that not everybody needs.
As such, these features can also add a significant amount of cost to the software. These features all focus on improving the efficiency involved with digital takeoff:. Once takeoff has been performed, the next step is to use that data to create cost estimates for materials, supplies, and labor for the project. The following list briefly covers the features that help contractors and subcontractors more efficiently create project estimates:.
Putting together and submitting a bid is a different process from estimating, and thus, software companies have added features to help manage the intricacies of construction bidding. Here is a list of some of the most common features software makers provide to optimize the bid management process.
Aside from specific takeoff, estimating, bidding, and unique trade-specific features, wise buyers should search for tools that play nicely with their existing technologies.
Many companies integrate nicely with Microsoft Excel. Some tools will also go above-and-beyond in their reporting and analysis tools. Companies who provide this type of analytic review of your estimating and bid data can add a tremendous amount of insight and help to create meaningful changes in the way you manage your business. So the reporting and analysis features of your top estimating and bidding options are worth a careful review. Cost estimating, takeoff, and bidding are necessary in most of the specialty trades of subcontractors, such as electrical work, plumbing, and HVAC.
Many software providers make solutions that are specific to the different specialties of subcontractors. These software solutions may include trade-specific cost databases and other useful features unique to each area. The following list shows what to look for in specialized estimating, takeoff, and bidding solutions if you are a contractor in one of the these areas:.
Electricians must use estimating tools to gather lengths for conduits, wiring, and cables, as well as the number of switches and receptacles in order to determine the costs and to estimate labor. But electricians should also look for tools that include formulas for electricians, which calculate voltage drops, electrical loads, fault currents, and counts for conduit, boxes, and wiring.
HVAC contractors should seek products that provide formulas that assist in calculating the heating and cooling needs of each room in the project plans. Estimating for plumbing installation, requires contractors to know takeoff counts for fixtures and fittings, as well as the linear measurements of CPVC, drainage, and supply piping.
Estimating software for plumbers should include pricing databases for plumbing parts and predefined plumbing assemblies. Three-dimension takeoff formulas or features should help contractors who frequently work on landscaping projects.
Construction estimating software is typically a very affordable piece of technology, especially compared to enterprise software solutions. These tools save significant time compared to manual methods of calculating and totalling costs of construction. Often, the pricing model will vary between software providers, but the cost is usually dependent on three key things:. Not all software companies price their products the same, so ask before diving into a contract how the software is priced.
However, these factors will usually provide a good proxy for the costs associated with using the tool. Some free tools and templates do exist, but the majority of tools that provide major value come at a cost. While the monthly cost can be a few hundred dollars or less for online tools, desktop tools that require a one-time installation are much more expensive up front.
This is because after installation, you own the product for life. However, if you would like to receive software updates from the developer, it will require additional fees.
When it comes to finding free construction estimating software, there are two options to consider: 1 using open-source software, or 2 using the free version of a paid option. Open-source software is a type of software in which the original developer makes the source code available for anyone to use and adapt to fit their needs. The big downside to open-source software is that you will need to hire a software developer to help you implement it and provide ongoing support.
For large organizations that need a highly customizable solution, this could be a good option, but most construction firms will be better off working with a vendor that provides a full-service estimating software solution. Two open-source options to consider are 2-plan Team and Wanhive.
Outside of open-source solutions, there are other free estimating options on the market in the form of free trials or free versions of otherwise paid solutions. Sometimes, even with the best companies, things require users to interact with the company many times, maybe for extensive product training or difficult product issues. Some products require an onsite installation with a company rep, while others require nothing more than a simple online sign up.
Ongoing product accessibility, on the other hand, is something that users should weight very heavily. We prefer products that are accessible online, or at least available for any platform—Mac or Windows. Online estimating software products have the benefit of being accessible from any device, and they usually offer stronger collaboration capabilities as well.
Luckily, most companies offer free trials or, at least, product demos, to prospective users. First and foremost, make sure that these needs are met by the estimating software you choose. Confirm that the tool meets your estimating needs before you lock into a contract with a new software provider.
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