If you work as an outsourced service contractor, you likely have a little accounting knowledge but absolutely no accounting software. Of course, you could go and buy some expensive software and rig up a costly set-up that includes disk drives, servers, computers, printers, and other costly peripherals to make it work. But that would be madness.
A better solution is to learn about how an accounting system works by going on the internet and finding yourself one of the following. You may also check the list of best accounting software for service contractors and choose the favorite one.
Our Top 5 Best Accounting Software For Service Contractors
Best Accounting Software For Service Contractors Reviews
1. Best Overall: Jonas Enterprise
Accounting software for contractors has become an increasingly large market, with many options available to choose from. Jonas Enterprise is one of the accounting software packages that provide a feature-rich solution.
Jonas Enterprise’s features include: invoicing, time and expense tracking, estimating, inventory management, project management, in addition to the general accounting functions. It also comes with analytics and reporting tools to help you manage your business more effectively.
Jonas Enterprise’s client list includes a diverse range of service contracting professionals, including roofers, painters, and plumbers, among others. Jonas is a full-service cloud-based contractor accounting solution that is user-friendly with no long-term contract commitment or upfront investment.
2. Best for Customization: FOUNDATION
Many contractors struggle to manage their business as they do not have the resources or time to devote to accounting. This is where FOUNDATION comes in! This is accounting software that you can use for service providers like plumbers, electricians, or HVAC technicians. It’s available for Windows and Mac users. Below you will find features that makes this program so great.
- Customers/Contacts/Leads: Collect and organize customer contact information with a simple interface. The data can be exported into your email marketing system using the E-mail Importer feature. You can also export in Microsoft Excel and create something more complex like a mailing list.
- Project Management: FOUNDATION is also helpful to formake managing more than just customer contacts. Use it to track your projects, estimate time for completion, add project notes and attach files such as receipts or invoices.
- Accounting: Track your income and expenses to see where you stand. Record expenses throughout the day, download vendor bills, and view your profit/loss at any time!
- Support: The developer is very active in the FOUNDATION community, helping users with any questions about the software or even how to use it better!
- Updates: The application constantly receives frequent updates and enhancements from its team of developers.
3. Best for Beginners: Acumatica
Acumatica is an enterprise business management software system that provides contractors, and other service-based businesses access to a complete, all-inclusive set of tools to manage every aspect of their operations.
Acumatica’s complete package includes financials, project management, CRM/lead/account manager system, workflow process modeler, and integration. The system can be customized to meet the specific requirements of a given organization at any level – from single user up to enterprise deployment for companies with thousands of concurrent users across multiple global sites.
Acumatica software provides service-based companies with a competitive advantage by increasing cash flow and profit while saving time and effort.
Multiple flexible options for implementation, including on-premises, cloud, or hybrid cloud. Each approach is easily tailored to meet a company’s individual needs and preferences. Customized training for specific user groups or departments, either on-site or via webinar sessions, can be conducted anywhere in the world.
Unlimited technical support by phone 24/7 and access to the Acumatica Knowledge Base, which provides users with quick answers and solutions to their technical questions.
4. Best for Small Business: Sage 100 Contractor
Sage 100 Contractor is powerful accounting software for service contractors. I’m going to highlight the features of Sage 100 Contractor that make it stand out from the rest/
- Budgets and Forecasts: You’ll have the power to create budgets and forecasts before you start your work for the day, week, month, or quarter.
- Work Orders: Customer work orders will allow you to include all of your customer documentation in one place.
- Client Management Module: The client management module will act as a central hub with full access to key information about all of your customers, including balance due, revenues, and account balances at any point in time.
- Customer Records: Our customer record module has all the information you need to provide your customer with an entire history of work completed.
- Invoicing: We’ve included a fully integrated invoicing module.
- Vendors and Suppliers: With Sage 100 Contractor’s vendor and supplier module, you’ll be able to manage your vendors and suppliers.
- Customers and Vendors: Sage 100 Contractor will allow you to track customer contacts and vendor status at any point in time.
- QuickBooks Integration: Sage 100 Contractor integrates with QuickBooks. You can manage your Quickbooks software through the contractor integration software we’ve included with Sage 100 Contractor.
5. Best Analytical Reporting: PENTA
PENTA is accounting software and contractor management application for the service and contracting industry. It works for any type of company in the field, from professional trades to landscaping, from general contractors to construction companies.
- The ability to manage multiple clients.
- A project-based system that allows you to keep track of profitability month-to-month and quarter-to-quarter with ease.
- You can also keep track of employees and their hours.
- Track your vehicle, equipment assets, and stock assets and watch it grow as you grow to the point where you can rent out unused equipment to other contractors.
- Keep track of everything about your business with powerful reports, which allows you to gain insight into numerous aspects of your company quickly.
- Create quotes with ease and send them instantly as pdfs to clients.
This post will discuss what accounting software is for service contractors and how it can effectively manage your company. We’ll also talk about the features offered in the leading software packages available on the market today.
Taxes are an unavoidable aspect of running a business. As a contractor, you are responsible for filing taxes on all of your income, including those that come from your personal income. In fact, unlike salaried employees, you are legally responsible for making quarterly payments to cover your self-employment tax bill while you wait for payments from clients.
There are many tax issues facing contractors, including the filing deadlines and forms to be submitted with each payment. That is why you need accounting software for service contractors to make payments and taxes in seconds.
What Is Accounting Software For Service Contractors?
Accounting software for service contractors provides you with a convenient way to handle all of your tax payments, including self-employment taxes, quarterly estimated income tax payments, and making year-end federal and state filings. It is essentially a system that helps you manage your business finances.
Accountants aren’t cheap; even if you hired one to take care of these tasks, it would cost you a considerable amount of money each month. However, accounting software for contractors can help lessen the load on your shoulders and provide accurate filings at a fraction of the cost.
Accounting Software For Service Contractors Features
While accounting software for service contractors will vary based on the vendor, it generally includes features such as:
- Corporate tax return preparation. This will calculate all of your business taxes and filings, including payroll taxes and estimated quarterly payments. You can also add multiple companies to one installation.
- Accounting reports. These enable you to generate general financial statements, such as balance sheets, profit and loss statements, etc. Some packages will include invoicing and contact management tools as well.
- Accounting system software for contractors can simplify the process of adhering to your business finances’ legal requirements by performing all of the filing deadlines accurately and without any undue stress on your end.
- Automated tax software will handle all of the tedious work involved in preparing your payments accurately and on time.
- Invoicing tools allow you to generate correspondence with clients and employees, including a system that optionally includes attachments such as invoices, estimates, statements, etc.
What Is The Best Software For Service Contractors?
One popular choice is Sage 50 from Intuit. It includes accounting software that helps with general ledger, invoicing, payroll management in addition to real estate management and contractors’ project scheduling. In addition to these features, it also comes with QuickBooks Pro, which has point-of-sale capabilities for retail businesses and more advanced tools that are especially useful for general contractors, such as subcontractor quotes.
What Is The Best Estimating Software For Contractors?
The best estimating software for contractors is a matter of preference. Some people prefer to use Microsoft Excel or Microsoft Word, while others like the plethora of available programs from BOBCAT and BIMCO. The answer depends on what you use. If you are new in this business, then it is advised that you practice with different software or apps before deciding which one will be best for your projects.
Is Procore user-friendly?
Yes, the Procore interface is very user-friendly and intuitive. Users can follow a step-by-step guide to create their project, with an option to click on a link in the upper right-hand corner for help.
Each module (project management, estimating, construction) contains a full menu of options that are organized logically and don’t require any formal training. Most tasks can be completed by clicking on any button. For more advanced settings or functions, users should consult the “Help” tab and navigate from there.