Top 5 Construction Accounting Platforms Ensuring Accuracy and Compliance

Poor choice of accounting software can cost construction companies thousands in lost profits, missed deadlines, and compliance issues. Many contractors face this problem when they outgrow simple spreadsheets or generic tools like QuickBooks.

Our industry’s accounting needs are unique and specialized. Construction companies need software that manages project-based finances, progress billing, and retention tracking effectively. Federal contract work makes DCAA compliance mandatory, and any non-compliance results in penalties or contract losses.

We evaluated 5 popular accounting solutions through 120+ hours of detailed research. This helped us create a comprehensive list of 16 top construction accounting platforms. Premier Construction Software emerged as the contractor’s best accounting software choice based on features and value. 

Each platform received ratings on standard features like invoicing and payroll, along with construction-specific functions that simple systems cannot manage.

Premier Construction Software

Built for teams that live in job costs and progress billing, this Premier Construction Software centralizes AP, AR, WIP, and reporting in one place. It tracks budgets and cash flow in real time, supports AIA, cost-plus, T&M, and lender draws, and automates key approvals.

 Managers drill from dashboards to transactions, match invoices to commitments, and control retainage. Labour, materials, and change orders roll into job costing without manual rework. 

The result is fewer errors, faster billing cycles, and clearer profitability at every stage of a project. OData links analytics to live data for timely decisions.

Premier Construction Software platform overview

Core features cover streamlined AP, AI-powered invoice capture, and automated bank feeds for faster reconciliations. Users route invoices by job, cost item, vendor, and thresholds, with commitment matching and one-click reversals when needed. 

Billing syncs to accounts receivable, and WIP uses percent complete to keep revenue recognition aligned. Real-time time entry supports crews and occupation codes, with approvals that validate accuracy and location.

Reporting spans financial statements, WIP, cash flow, aging, retainage, and Budget vs Actual, with drill-downs and red flag alerts for at-risk costs. 

Premier Construction Software compliance capabilities

Controls help teams maintain audit-ready records. Role-based access with multi-factor authentication protects sensitive data, while segregation of duties reduces risk. Flexible tax handling supports use tax, HST, PST, QST, VAT, GST, and county or state rules by vendor or job. 

Automated lien waivers generate conditional or unconditional forms from invoices or checks, email them for signatures, and store the signed documents. WIP automation and approval stops prevent miscoding and cost overruns, which supports accuracy during reviews and audits across sites and entities.

Premier Construction Software gives specialized tools to construction companies looking for accounting solutions. These tools eliminate manual data entry and connect office to field operations.

Premier Construction Software integration options

Live analytics connect through OData, allowing Power BI or other tools to model data without constant exports. AI-powered bank feeds import and match transactions for quicker month-end. 

Field inputs flow from the SubPay App so labour costs post to job costing in real time. Multi-company workflows automate intercompany entries and centralized AP payments, keeping structures clean while supporting consolidated reporting. 

Together, these options link office, field, and finance for a single source of financial truth that scales with project volume and growth. 

Aurigo

Aurigo stands out as an advanced accounting software for construction companies through its flagship products: Masterworks Cloud and Essentials. The platform manages complex capital programs worth over $450 billion USD across 40,000 projects with exceptional capabilities.

Aurigo Software Platform Overview

Aurigo Masterworks connects planning through project completion with end-to-end capital program management. Construction teams can plan strategically, build with quality, and manage assets better with this detailed solution. 

The platform proves highly effective for:

• Capital planning with cash flow analysis and weighted scoring prioritization
• Construction project management, including estimation and bidding
• Right-of-way management with integrated DocuSign capabilities
• Equipment tracking and utilization monitoring
• Live field data collection via mobile apps

Aurigo Essentials offers a simplified version designed for local and regional government agencies. The platform’s AI-powered scenario planning helps teams make informed decisions by improving financial modeling and forecasting tools.

Aurigo Software Compliance Capabilities

Government projects rely on Aurigo’s impressive compliance credentials. The platform has become the first construction management software to achieve both FedRAMP Authorization and StateRAMP readiness. Aurigo also holds ISO 22301:2019 certification for business continuity management systems and has completed SOC 2 Type 2 audits.

Aurigo keeps security at its core by implementing NIST 800-53 Moderate baseline compliance. All data remains encrypted both in transit and at rest. Qualified third parties conduct annual penetration testing while regular internal vulnerability scans add extra protection.

Aurigo Software Integration Options

Aurigo works well with most construction accounting for construction companies. 

The system connects smoothly to:

1. Microsoft products, including Office 365, Project, and SharePoint
2. Autodesk Construction Cloud for design file access and collaboration
3. ESRI ArcGIS for mapping, geocoding, and spatial analysis
4. DocuSign for digital signature workflows

Users can view over 150 different file types directly within the platform. AWS infrastructure powers the system and provides excellent scalability and performance. Field workers can complete forms and capture data even in remote areas without connection, thanks to Aurigo’s mobile capabilities.

Bentley Systems

Bentley Systems provides a powerful suite of accounting software for construction companies that goes beyond simple financial management. Their infrastructure engineering software delivers top-tier solutions for managing complex projects, with revenue exceeding $1 billion USD across 186 countries.

Bentley Systems Platform Overview

ProjectWise serves as Bentley’s collaborative information management solution that makes project teams work efficiently and share data across project phases. 

The system has:

• Digital design delivery capabilities with data-centric workflows
• Portfolio intelligence tools for finding and reusing design components
• Data governance features that control information access based on roles
• Engineering work-in-progress management to prevent expensive rework

Bentley creates a connected environment with SYNCHRO for construction management and AssetWise for operations. This optimizes project delivery from concept through completion.

Bentley Systems Compliance Capabilities

Bentley’s platforms excel at regulatory compliance through several built-in functions. ComplyPro makes assurance simpler on complex projects and reduces costs tied to design visibility issues and non-compliance. 

The software:

• Provides progressive assurance that decodes governance processes
• Makes operational assurance possible with unified compliance approaches
• Maintains detailed audit trails with change log history
• Traces high-level project requirements through design and delivery

Bentley Systems Integration Options

Bentley Enterprise Connection Services (BECS) helps create immediate bidirectional integration between Bentley products and third-party enterprise systems. 

This platform supports:

• Integration with ERP and documentation management systems
• Connections to geospatial and IoT sensors
• All integration architectures (on-premise, cloud-based, or hybrid)
• Predefined integration packages in the BECS Integration Catalogue

Bentley’s partnership with EARTHBRAIN advances digital construction technologies by incorporating digital twin technology into Smart Construction products.

StrategicERP

StrategicERP, created by IIT Bombay graduates, has provided specialized accounting software to construction companies since 2005. The platform’s construction-focused approach and complete feature set have attracted over 1000 customers worldwide.

StrategicERP Platform Overview

StrategicERP offers complete project lifecycle management specifically built for real estate and construction industries.

The platform excels at:

• Live analytics that enable informed decision-making and cost optimization
• Artificial intelligence integration with voice command response capabilities
• End-to-end process automation tailored for large-scale infrastructure businesses
• Accessible dashboards showing panoramic project views

The platform’s infrastructure ERP combines accounting, architecture, and sales modules to enhance project management. This combination delivers accurate cost estimation, better scheduling, and resource allocation – key factors in choosing construction accounting software.

StrategicERP Compliance Capabilities

Contractors often struggle with compliance requirements, but StrategicERP handles these challenges well. 

The platform provides:

A well-laid-out system to store and manage legal documents, contracts, and compliance records. Statutory Management module that generates tax reports automatically. Data integrity protection through Vulnerability Assessment and Penetration Testing (VAPT) and ISO certification.

The compliance tracking feature delivers regulatory data to internal management and external stakeholders. Your business can stay compliant with changing regulations while reducing manual work.

StrategicERP Integration Options

StrategicERP’s flexible integration capabilities make it stand out. The platform:

Combines smoothly with Tally to boost financial control Links to major platforms including Facebook, WhatsApp, Oracle EBS, Salesforce, and MySQL. Supports customization for custom fields and reports. Offers API functionality to integrate with other systems/databases. 

The software adapts to your specific requirements and works with existing legacy systems. Built on J2FX using JAVA, the platform works independently across devices, including tablets, phones, laptops, and PCs.

B2W Software

Trimble has acquired B2W Software, a specialized accounting software provider for construction companies that focuses on heavy civil contractors. This platform helps businesses win more bids and improve profitability through targeted functionality, unlike generic financial tools.

B2W Software platform Overview

The unified platform approach called ONE (Operational Networked Elements) forms the core of B2W operations with five interconnected modules:

• B2W Estimate – Provides centralized cost data and structures for heavy civil construction estimating and bidding
• B2W Track – Records daily field logs for capturing labor, equipment, materials, and production data
• B2W Schedule – Handles resource scheduling and dispatching to optimize efficiency
• B2W Maintain – Manages equipment maintenance and repair workflows
• B2W Inform – Creates flexible electronic forms for efficient data capture

Cloud-based operations make the platform available from anywhere while delivering high performance and scalability. The modules share a central database that serves as a single source of truth, which eliminates redundant data entry and improves collaboration.

B2W Software Compliance Capabilities

B2W Inform plays a vital role in maintaining compliance for contractors who need accurate accounting for construction companies. 

Teams can:

Create customizable electronic forms that replace paper-based processes. Generate detailed reporting and analytics from collected data Set up immediate alerts based on inspection findings

The system blends with B2W Maintain to automatically create equipment repair requests based on inspection results. This connection optimizes the workflow between safety inspections and maintenance tasks.

B2W Integration Options

The software exports detailed field production information to many accounting platforms. It connects with popular systems like ComputerEase, Dexter & Chaney, Foundation, Jonas, Sage, QuickBooks, and Viewpoint.

Estimated jobs transfer directly from B2W Estimate into the operational modules. This connected approach breaks down barriers between estimating, operations, and accounting departments.

Conclusion

Premier Construction Software emerges as the best solution for contractors who want to boost accuracy and compliance. Simple systems don’t scale well as companies grow, but specialized construction accounting tools handle project-based financial management effectively.

These platforms tackle the challenges contractors face every day. They excel at project-based financial tracking that generic accounting software can’t deliver. On top of that, they include progress billing and retention management features that keep cash flowing while meeting industry standards.

DCAA requirements are non-negotiable for federal contractors. These specialized platforms generate audit-ready records automatically and protect businesses from penalties and contract losses. Construction teams used to rely on scattered spreadsheets and manual work. Now these integrated systems give them a single source of truth.

The platforms merge well with other construction management tools. This eliminates duplicate data entry and helps field operations stay in sync with office staff. Your team can make decisions based on live data instead of old reports.

The stakes are high in construction finance. Investing in the right accounting software pays off through better project profits, improved compliance, and less administrative work. Simple tools don’t cut it anymore – specialized construction accounting platforms are vital for contractors to succeed in today’s market.

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