Planning, budgeting and forecasting are essential for every business—big or small—to ensure that the company will actually turn a profit. However, in the construction industry, budgeting is critical to ensuring that the business stays in the black after a job is complete. Miscalculate the cost of building materials or employees’ pay on a project and you could easily end up in the hole.
Luckily, the days of working with cumbersome spreadsheets and other old-fashioned methods of calculating your expenses are over. The following software takes the pain out of budgeting for your construction business:
Budget Maestro
This scalable budgeting and planning software solution offers full functionality that requires little or no IT involvement. The Standard Edition offers basic budgeting and planning requirements and includes an integrated profit-and-loss statement, balance sheet and cash-flow statements. You also benefit from what-if scenario and personnel-planning capabilities. The Advanced Planning Edition accommodates an unlimited number of users, full customization, and advanced budgeting and planning requirements. Both versions offer a 15-day free trial, however, you will need to contact the sales department for pricing information.
Buildstar
Designed specifically for the construction industry, this budgeting software is an integrated solution that shares information with QuickBooks. In real-time, compare your budget forecast to your actual expenses so that you can always determine how much budget you have remaining and how much money you will need to complete a project. For $30 monthly or $75 quarterly, you can use the BuildStar Estimator tools. With the BuildStar Pro Subscription at $130 monthly and $330 quarterly, you gain access to the full set of tools and functionality, including all the estimating tools.
Intacct
This web-based budgeting and forecasting Software as a Service (SaaS) is accessible on-demand through your Internet browser. One of the best features of this software is the ability to see dashboard-ready Intacct Performance Cards that show you your key financial metrics at a glance. The software functionality is designed for people with accounting and finance expertise. To gain quotes on a system customized for your business, find a reseller in your area.
CMiC
This financial management software designed specifically for the construction industry provides real-time functionality, allowing you to access current and past customer and vendor transactions, create financial statements in multiple formats, track invoices and more. The software integrates with any billing system. Contact the sales team to learn more about all of CMiC’s services for the construction industry and pricing options.
Xero
Designed with small businesses in mind, Xero is a web-based accounting solution that offers a simple interface allowing you to create invoices and purchase orders, reconcile bank and credit card transactions quickly, pay bills and more. It also offers a mobile version and unlimited users for the account. Take advantage of the 30-day trial. Packages range from $9 to $70 per month.
Quit fumbling with spreadsheets, adding machines and ledger books to budget for your construction business. Instead, use one of the intuitive, efficient and affordable software packages on the market today to ensure the financial health of your small business.