Construction Financial Glossary

Construction Accounting Software Definition

Construction accounting software is a specialized financial management tool designed for contractors, subcontractors, and project owners. It helps track project costs, manage budgets, process invoices, and ensure compliance with industry regulations.

Why Construction Accounting Software is Essential

Unlike standard accounting programs, construction-focused solutions integrate Job Costing, retainage tracking, and Progress Billing to ensure accurate financial oversight.

Key Features of Construction Accounting Software

    1. Job costing to track expenses per project
    2. Integration with payroll for accurate workforce burden calculations
    3. Automated invoicing and retainage management


Related Terms: Job Costing, Progress Billing, Retainage Tracking, Financial Reporting

FAQ:

How does construction accounting software differ from general accounting software?

A: It includes industry-specific features like job costing, progress billing, and Subcontractor payments.

Can construction accounting software integrate with project management tools?

A: Yes, many platforms sync with scheduling and budgeting tools for seamless project tracking.

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