What is the best budgeting software for construction business?
The best budgeting software for construction business is FreshBooks. Geared towards business owners and accountants, FreshBooks helps clients send professional-looking invoices, track time and expenses, and process payments faster. It also has a reporting dashboard that provides data visualizations as well as a mobile app that lets users scan receipts and track miles with a smartphone.
As in any other field, the construction industry took a hit during the COVID-19 pandemic, resulting in halted projects and job losses. However, with countries steering the way to economic recovery, the industry is getting back on its feet, thanks to trillions of dollars in aid from the government. At times of increasing construction activity, firms need tools like budgeting software for construction business to make sure they complete projects on time and within budget.
In this article, learn about the best budgeting software for construction business so that you can improve the way you control costs and manage construction projects to completion. We will compare and contrast the various features of different software on the market, zeroing in on each platform’s unique functionalities. With this, hopefully, you are able to decide which budgeting system suits your operations best.
Over the past few years, the total value of private construction in the United States has been steadily increasing. In 2020, for example, spending on private construction reached $1.14 trillion. Meanwhile, in November of 2021, total construction spending in the country hit a whopping $1.46 trillion. With this trend in mind, economists predict that 2022 will be a very busy year for the construction industry. One of the factors responsible for this is government infrastructure spending, with the U.S. Congress passing the long-term infrastructure bill called the Infrastructure Investments and Jobs Act.
Despite this rosy development, the industry is not without its woes. It is still recovering from the pandemic-related job loss. Commercial construction trends indicate that its effects were still felt in 2021, with a decrease of 88,000 jobs compared to pre-pandemic levels. Another challenge for construction firms is dealing with skyrocketing construction material prices. According to construction statistics, as of November 2021, inputs to new construction, excluding capital investment, labor and imports increased by 20.54% compared to a year ago. The special index for construction materials increased by 34.65% while final demand construction increased by 12.27% compared to the previous year. Firms also have to deal with job site safety. In 2020, the fatal injury rate for the construction industry was at 10.2, which increased from 9.7 in 2019.
With these industry developments, construction firms will certainly find it challenging to get back to the grind. As such, investing in technologies like budgeting software is important. In this way, keeping up with the competition and the new normal is easier and more efficient.
Top Budgeting Software for Construction Business
Freshbooks is an invoice and accounting software specially built for accountants and small business owners. The software helps businesses improve the collection of their accounts payable and keep a healthy cash flow. Features like the capability to create professional-quality invoices expedite client billing while simplified expense tracking lets users account for every dollar spent.
Freshbooks is used mainly by freelancers, self-employed professionals, as well as businesses with both employees and contractors. For a business with contractors like the construction industry, it gives them the time tracking and project management tools they need in one place. Managing client billing is also a breeze with automated billing cycles, automated invoicing, online payments, and more. It also integrates with a slew of business systems, giving it the capability to seamlessly blend with your existing tech stack.
For pricing, the vendor offers three pricing plans, ranging from $15/month to $50/month depending on the features that you require.
Try out FreshBooks with their free trial
What is unique about Freshbooks?
- Plans for businesses with contractors and employees. Freshbooks offers the Lite, Plus, Premium, and Select plans with varying features, depending on the needs and complexity of the business. No matter your business size, there is a plan for you.
- Integrations with more than 100 apps. As a leading finance and accounting software tool, Freshbooks has a robust integration portfolio. These include familiar names like Gmail and Slack but also other kinds of app categories from analytics to job boards to website management.
- Billable hours. Freshbooks offers the ability to track billable hours on all plans, unlike other vendors, which only offer this feature on higher-tier plans. This gives users the confidence that they are billing clients accurately, even on the most basic plan.
- Simultaneous user access. Freshbooks allows an unlimited number of users to access their accounts simultaneously. In contrast, some vendors limit simultaneous access only to a handful of users.
- Project management features. With Freshbooks, you don’t need to purchase standalone project management software to stay on top of project deliverables. On the other hand, this feature is not available to certain vendors.
Detailed FreshBooks Review
2. NetSuite ERP
NetSuite ERP is a comprehensive cloud ERP platform that helps businesses achieve efficiency with their financial operations, optimize their supply chain, and streamline their business overall. With it, companies can revamp manual processes and have real-time access to data.
The solution can be applied to a wide range of industries regardless of size, from advertising agencies to IT services to professional services. The software includes seven key features which form part of its core platform: accounting, financial management, global business management, inventory management, order management, and supply chain management. Users have the option to add modules as they see fit for the needs of their industry. Pricing is based on an annual license fee depending on the core platform, optional modules, and the number of users.
Try out NetSuite ERP with their free trial
What is unique about NetSuite ERP?
- Pay one annual license fee. A NetSuite subscription includes core platform features that range from accounting to inventory management to warehouse management. Additional features are available as add-on modules.
- Depth of experience. As a leading ERP provider, clients can benefit from the numerous deployments that NetSuite has implemented all over the world. From these deployments, they have also developed a set of best-in-breed practices that clients can leverage for the success of their business.
- Have a single source of truth. NetSuite ERP allows you to have one source of data for your accounting, processing, inventory management, production, supply chain, and warehouse operations. This empowers users to make smart business decisions in real-time.
- Support for start-ups and global organizations. NetSuite ERP is a flexible solution that can support businesses of all sizes. With its country-specific configurations, businesses can facilitate smooth transactions with customers and suppliers from around the world.
- Go beyond accounting features. While it has general ledger, AR, and AP functionality, NetSuite can go beyond these usual features. It also comes with pre-configured KPIs, customizable dashboards, compliance management, and more for optimizing your business processes.
Detailed NetSuite ERP Review
3. QuickBooks Online
Quickbooks Online is a cloud-based accounting software that empowers businesses to track income and expenses, manage their cash flow, and boost tax compliance. The software snagged a spot on our list of best budgeting software for construction business as it can be used to serve a variety of industries such as retail, construction, non-profits, restaurants, professional services, and more.
QuickBooks Online can be used for all types of businesses as well, whether they are a new business, small business, or a mid-sized firm. All plans come with income and expense tracking, invoice generation, receipt capture, payment processing capabilities, and more. QuickBooks Online offers four plans: Simple Start, Essentials, Plus, and Advanced. Users can opt to add a payroll management system to any of these plans. QuickBooks Online mobile access is included in all plans at no additional cost.
Try out QuickBooks Online with their free trial
What is unique about QuickBooks Online?
- Live Bookkeeper. For a fee, clients can get guidance on how to categorize transactions and reconcile accounts. You can get in touch with QuickBooks-certified bookkeepers via video conference for ongoing bookkeeping, generating essential reports, and keeping accurate records for tax compliance.
- Manage 1099 contractors. With QuickBooks Online, assigning payments to 1099 contractors can be done in just a few clicks. The system also tracks the payments and the contractors you have paid for easier reporting to the IRS.
- Integration with existing accounting apps. Quickbooks works with construction-centered apps that will help maximize the investment you already made on these tools. These include Corecon, Buildertrend, RedTeam, Greenback, Housecall Pro, and AutoEntry.
- Job cost management. The project feature of QuickBooks Online gives one a clear idea of how profitable your business is. You can track how much income a project has generated, compare it with the costs, and see how the project is impacting your profitability.
- Sales and sales tax tracking. Budgeting software can also help you manage taxes. You can connect QuickBooks with your online bank account to get updated information sans the need for manual data entry. Transactions within the last 90 days are automatically downloaded which the user can categorize for easier tax compliance.
Detailed QuickBooks Online Review
Xero is an all-in-one accounting software that lets users simplify their daily business tasks. From paying bills to claiming expenses and connecting your bank accounts, Xero gives you all the tools you need to run your business.
Accountants and bookkeepers use Xero to work with clients to ensure compliance with reporting requirements and to manage their practice effectively. It also helps small businesses automate time-consuming bookkeeping tasks and improve their invoicing, payroll, inventory, and other aspects of their operations. Xero can be used for different business types such as retail, ecommerce, IT, nonprofit, legal, and more.
Xero offers three kinds of plans: Early, Growing, and Established. All plans have the optional Payroll with Gusto add-on, which allows users to compute salaries, calculate deductions, and automate payroll processes.
What is unique about Xero?
- Low-cost plan. Those who are sole traders, are self-employed, or have just started a new business can start with the Early plan for as low as $12 per month. Those who want to test-drive Xero first can start with the free 30-day plan and decide from there.
- Integration with over 1,000 apps. Xero can be integrated with a wide range of apps, from invoicing apps to payment processing apps and time tracking apps. Specific to the construction industry, it can be integrated with Workflow Max, Service M8, and simPRO Software.
- Project cash flow. Xero Analytics is available as an upgrade to any plan for those who want to view how their business is doing at one glance. With this feature activated, you can see future cash flow, financial health dashboard, and more customization options and predictions.
- Your data is secure. Xero employs multiple layers of security to ensure that your data remains protected. Multi-factor authentication verifies the identity of the person logging in to your Xero account while encryption is used to store your information safely.
- Collaborate with others. Foster collaboration while ensuring access control by customizing the permissions for staff members. You can also engage in real-time collaboration with accountants knowledgeable in real-time through Xero-certified accountants included in their Xero Champion program.
5. Sage 50cloud
Sage 50cloud combines the reliability of desktop accounting software with the flexibility and convenience of a cloud-based application that gives you ready access to the data you need to run your business. The software allows users to get paid faster, spend less time on administrative tasks, and gain visibility into their financial performance.
The main features of the software include cash flow and invoicing, payment acceptance, automatic bank reconciliation, and advanced inventory management. Sage 50cloud is primarily geared towards small businesses. It also caters to industries like accounting, construction, retail, and professional services companies. Sage50 cloud comes in three pricing packages: Pro Accounting, Premium Accounting, and Quantum Accounting. All plans come with support plus, Sage Security Shield, the vendor’s cybersecurity tool.
Detailed Sage 50cloud Review
What is unique about Sage 50cloud?
- Security Shield. Only a handful of finance and accounting software vendors throw in features that curb cybersecurity threats as part of their pricing packages. This can be a handy feature for small businesses who are conscious about cybersecurity but do not want to shell out extra for this feature.
- Automatic bank reconciliation. Like most accounting software, Sage 50cloud can automatically clear matching transactions once you connect your Sage account with your bank. However, it also flags missing transactions for you to create a new record for it. A screen reader is also supported for ease of accessing digital content by the differently-abled.
- Automatic inventory adjustment. Sage 50cloud gives you information about your inventory so you can focus on moving it. The system tracks the costs and quantities of items in your inventory every day, which is updated each time you post a purchase or sale.
- Customer support. Customers can get support 24/7 through online chat and free training. A Sage Success Coach is also available during business hours to attend to customer queries on their product forums.
- Steep discounts. The vendor gives generous discounts whether you choose to pay the plans monthly or annually. This gives businesses some leeway to allocate money saved on software to other crucial parts of their business.
FreeAgent is an online accounting software that promises to transform the way small businesses handle their finance and accounting tasks. This intuitive software was specially created for freelancers, accountants, and small businesses to help them stay on top of their finances and control their processes.
One of the main features of FreeAgent is the ability to generate beautifully designed invoices and estimates that increase client confidence and help close deals. The software also has expense tracking, time tracking, bank transactions, and more plus, a mobile app for doing budgeting tasks while on the go. FreeAgent offers a universal plan for $10 per month, US businesses for $12 a month. For United Kingdom customers, they offer monthly and annual plans for limited companies, partnerships and LLPs, and sole traders.
Detailed FreeAgent Review
What is unique about FreeAgent?
- Simple pricing structure. FreeAgent only offers one plan for global and US customers while it offers three plans for UK. customers. For all plans, there are no limits to the number of users, clients, or projects that you can get out of the plan.
- No hidden fees. FreeAgent is easy to use and has no set-up fees. You can cancel any time and download your data should you need to preserve your account details.
- Powerful insights through Radar. FreeAgent can deliver intelligent business insights powered through Radar. With it, users get prompts and notifications about the performance of their business, have one place to clear admin-related to-dos, and be updated about the new features and developments of FreeAgent.
- Extensive support. Customers can call or chat with a FreeAgent support representative or get self-help through the knowledge base. The vendor also regularly conducts live webinars to help new users through the software.
- Serious about security. FreeAgent has Cyber Essentials Plus certification from the UK National Cyber Security Centre for companies. Meaning, clients have protection against the most common cyberattacks. The vendor abides by ISO certifications related to security standards and is compliant with EU General Data Protection Regulation.
7. Sage Intacct
Sage Intacct is award-winning accounting software that helps you improve profitability and spend less time budgeting and planning. Its core financial features include accounts payable automation, accounts receivable module, cash management automation, AI-powered general ledger, and more.
Sage Intacct can be used by businesses of all sizes, from start-ups to public companies. Through real-time reporting of financial, managerial, and operational data, construction firms are equipped with the data they need to start and finish projects on time. Sage Intacct pricing is quote-based, ensuring that you get a custom plan that fits your unique needs. Sage Intacct can be integrated with Salesforce, Paychex, Expensify, and more. It also has an open API that supports over 300 methods so you can build your ecosystem of solutions.
Detailed Sage Intacct Review
What is unique about Sage Intacct?
- Preferred by finance professionals. Sage Intacct is a robust accounting software that can solve your most complicated financial challenges within a user-friendly interface. For this reason, it is preferred by the American Institute of Certified Public Accountants, an organization with more than 400,000 members around the world.
- Grows with your business. Sage Intacct’s unique AI-powered Intelligent General Ledger with multi-dimensional insights make intelligent, data-driven decisions. With reliable data, you can easily grow your business without worrying that your software cannot cope with an increasing number of users, customers, transactions, and entities.
- Built on a true cloud platform. Sage Intacct has the hallmarks of a true cloud solution such as multi-tenancy, elastic infrastructure, high configurability, and more. Clients can enjoy the benefits of a pure cloud model such as agility, instant access, and cost savings.
- Buy with Confidence guarantee. Sage Intacct has a published guaranteed uptime of 99.8% and gives credits if its services fall below the availability target. They likewise provide credit should they not meet the budget and timeline set in the statement of work.
- Compliance support. Sage Intacct gives you the tools you need to comply with strict financial reporting standards like GAAP, ASC 606, and IFRS 15. The software has built-in compliance reports for these standards, which will help businesses secure a loan or an additional round of funding.
Tradogram is a simple, fast, and smart purchasing system that helps businesses control their costs and streamline their purchase order process. Ideal users for this software are senior management, purchasing teams, and financial teams. The software is adaptable to various kinds of industries but for the construction industry, in particular, it helps them deliver construction projects on time and within budget as well as avoid instances of material shortages.
Tradogram can be integrated with other budgeting software like Quickbooks, Xero, and Sage 300. Other integrations can be achieved through API integration, which supports JSON and XML data-interchange formats. Tradogram offers three plans: a free Basic Plan, a Premium plan billed at $18 per user per month, and an Enterprise plan available by quote.
Detailed Tradogram Review
What is unique about Tradogram?
- Affordable plans. Despite being free, Tradogram’s Basic plan has a decent amount of features plus, an unlimited number of items, suppliers, and categories. They also have a Premium plan priced at $18 and a custom Enterprise plan.
- Hassle-free setup. Tradogram is a plug-and-play solution that can be set up within a day. They also do not impose set-up charges and hidden fees.
- Intuitive tool. Customers testify as to how the tool is straightforward to use. With an intuitive but powerful tool, businesses spend less time onboarding their staff.
- Configurable solutions. Features like on-off controls per-user and configurable results allow users to personalize the software according to the needs of their business. Workflow solutions like purchase to pay, strategic sourcing, supplier management, contract management, spend analysis, and order management can also be customized all in one platform.
- Spend visibility. Tradogram allows businesses to track approvals and various kinds of activities within the system. With this, you get a clear overview of your procurement data, craft a clear budget strategy, and control costs.
Board is a leading decision-making platform that helps teams make effective data-driven decisions and simplify their planning process across their entire business. The solution can be used by professionals from HR, finance, supply chain, and sales. Board can be used to solve business challenges in retail, automotive, professional services, and consumer packaged goods industries.
With Board’s in-memory technology, it allows users to crunch the numbers using large data sets and complicated business models. Self-service analytics with drag-and-drop functionality makes it easy to visualize data. Board comes with a mobile app that allows users to enter data wherever they are and run analyses using BI mobile tools. Board can be integrated with SAP, Microsoft, Microsoft Azure, and other technology partners.
What is unique about Board?
- Self-service reporting. Board unifies planning and corporate performance management capabilities.
- Simulation. Board equips users with a comprehensive set of modeling and simulation tools. With this, you can easily spot business challenges and analyze how going through with a particular course of action will affect your business.
- Integrated business planning. Board unifies all the aspects of your business that require strategic planning like HR, finance, and sales and operations. With this, you can be assured that planning processes are aligned for every team and department.
- Loved by customers and experts. Board has a renewal rate of over 90% which speaks about how customers enjoy using the software. In addition, they have garnered numerous awards from industry analysts and experts due to their unique approach to decision-making.
- Security certifications. Board data centers adhere to strict security standards which have led them to earn certifications such as ISO 27001, HIPAA, FedRAMP, SOC 1, and SOC 2. In addition, they have country-specific standards like Australia IRAP, UK G-Cloud, and Singapore MTCS.
10. FinancialForce Accounting
FinancialForce Accounting is a simple, fuss-free accounting solution that allows businesses to enhance, optimize, and automate their financial operations. With the tool, you can access financial analysis to address a diverse set of financial needs. It can be used by businesses of all sizes.
One of the features of FinancialForce is that it supports a wide range of companies, currencies, books, languages, and multi-chart accounts which makes it a truly global solution. The solution is also a step up from the usual financial reports by making the data available in real-time and with KPI reports and daily operational reporting. All these features and more help businesses connect their front and back offices, gain full visibility into their business, and achieve agility whatever business model they have. Pricing for FinancialForce Accounting is quote-based.
Detailed FinancialForce Accounting Review
What is unique about FinancialForce Accounting?
- Single source of truth. FinancialForce contains quick links so you can easily access sales invoices, projects, opportunities, and other customer data from one page. Users can also gauge project status with visibility with resource and project management tools.
- Complete business visibility. With FinancialForce, you get a 360-degree view of your financial health to serve your customers the best way you can. You get a complete set of reports about billing, sales, services, and accounts payable.
- Social feed. FinancialForce brings the features of a social media site for the office environment. Its instant news feed feature called Chatter allows team members to communicate with one another from various departments.
- Approvals engine. The tool’s point-and-click configuration makes it easy to set up your approval process. From there, you can impose clear guidelines, ensure compliance with approval rules, and keep an automated log of approval history.
- Modern user interface. Since FinancialForce offers business apps on the SalesForce platform, users can enjoy the familiar Salesforce Lightning Experience. With a simple but intuitive interface, users can be more productive and work towards optimizing business processes faster.
Bizview is a cloud-based ERP tool that is equipped with accounting features powered by AI. Though mainly a web-based AR system, it also has AI-powered accounting and accounting system components. Through its AI assistant, the tool can continuously learn about your business so you can shift from traditional to automated processes.
On the other hand, features for billing, invoice approval, bookkeeping, and more help accountants efficiently conduct advanced bookkeeping. Bizview offers an $85 pricing plan which has access to all modules, including finance and accounting. It also has a mobile app where you can do time tracking, approve receipts and invoices, and communicate with others through the company wall. The tool is also capable of many standards integrations and can work with other solutions through APIs.
What is unique about Bizview?
- Learn from big data. The Bizview AI assistant leverages the knowledge it gains from analyzing hundreds of millions of transactions and invoices. Coupled with 20 years of experience in the cloud, clients can combine their data with Bizview’s expertise to drive better customer service.
- Automate accounting processes. Shifting to the paperless office is possible with BizView. You can set up recurring invoices, automatic matching of transactions in the general ledger, and routing of approvals to managers.
- AI-powered accounting. BizView bills itself as the first player of AI-powered accounting. With this, customers can benefit from algorithms that continuously learn about their business.
- Cloud-based ERP. BizView is a comprehensive cloud-based ERP that is trusted by thousands of customers worldwide. A solution in the cloud allows users to work from anywhere and work with other team members seamlessly.
- Flexible subscription models. BizView has five plans, which include access to all modules offered by the vendor 24SevenOffice, which includes finance and accounting. However, there are also other plans for inventory management software the cost of which depends on the user roles.
Vena is an Excel-based budgeting and forecasting software that helps various kinds of businesses simplify their business planning, maximize time, and automate manual tasks. This feature-rich financial forecasting software allows users to conduct various kinds of budgeting and make interactive visualizations.
With Vena, businesses can have a full-blown financial planning solution without upending their current technology setup. It can be used by a variety of industries but for the construction industry specifically, it allows users to come up with driver-based modeling so they accurately predict project revenues, costs, and profits. Vena can be integrated with on-premise source systems such as SAP, IBM, Oracle, and Microsoft SQL Server. It also works natively with cloud-based applications like Salesforce, Netsuite, Quickbooks, Sage Intacct, and more.
What is unique about Vena?
- Create budgets on any requirement. Vena supports a variety of budgeting requirements so your business can achieve financial goals. These include top-down budgeting, bottom-up budgeting, driver-based budgeting, and zero-based budgeting.
- Cut budgeting time in half. Vena provides users a single platform where they can explore the details of expense items and pinpoint trends. This allows finance managers to focus on analytics.
- Go beyond Excel. Vena combines the familiar user interface of Excel spreadsheets with the Vena growth engine which helps you analyze what drives your business. However, it has capabilities beyond Excel so you get a robust financial forecasting solution, including data integrations, drill-throughs, and advanced modeling.
- Centralized database. Vena allows you to import data from your database, data warehouse, or other homegrown systems. Data can be imported to Excel, CSV, or flat files so you can have peace of mind that the data you have is accurate and complete.
- Flexible and scalable. Vena has solutions for a wide variety of industries, including banking, insurance, higher education, and more. The software is also adaptable as your user base and business demands change.
Expensify is an expense management software that offers unlimited receipt tracking. It helps individuals, self-employed professionals, and businesses streamline their expense reporting process through a web-based, paperless workflow.
The main features of the software include one-click receipt scanning, credit card import, multi-level approval workflows, corporate card reconciliation, multi-level coding, advanced tax tracking, and more. For business users, Expensify offers the Collect plan at $5 per user per month and the Control plan at $9 per user per month. These plans come with an Expensify card. On the other hand, they have Track and Submit plans for individuals and self-employed professionals. Expensify can be integrated with other accounting and finance apps as well as apps for HR, practice management, travel, tax, and receipt integrations apps.
Detailed Expensify Review
What is unique about Expensify?
- Expensify card. The Expensify business plan offers a free Expensify card for the entire team. Cardholders can enjoy a lot of perks such as 50% savings, 4% cashback, and a Swipe to Win promo.
- Paperless expense tracking. Expensify helps businesses move away from traditional processes that are heavily dependent on paper and spreadsheets. The software supports detailed expense tracking and complicated approval workflows within a simple user interface.
- Scales with you as you grow. Companies at one point may be satisfied with a built-in expense tool that comes with their accounting software but only find that their needs change when they expand operations. Expensify has experience helping companies track expenses as they transition from a start-up to a global company.
- Individual and business plans. Expensify has plans for individuals, self-employed, and businesses. Users can also pay annually or get bundled or unbundled pricing, giving you lots of payment options according to your needs.
- Offline scanning. You can capture receipts while on the go even if you are offline in remote areas. This has helped customers close their books on time and saves them the time and effort of manual data entry and paperwork.
14. Account Edge
Account Edge is a complete accounting software that helps small businesses take control of their bank accounts and manage their annual budgets. Users can run all the crucial aspects of their business from purchasing to payroll to inventory and more from one platform. With the too, you get a glimpse of how profitable your business is while ensuring that you get paid for your invoices faster.
Though primarily accessed from a desktop, the vendor offers plans for other ways to access the tool. One is through an add-on called AccountEdge Hosted costing $40 per user per month which gives users remote access from anywhere from any device. There’s also AccountEdge Connect which features a browser-based application that can be used on any device for inputting key business data and syncing it with your system.
Detailed AccountEdge Review
What is unique about Account Edge?
- Full-fledged accounting software. Account Edge offers a comprehensive desktop-based accounting system that addresses the needs of small businesses. These include payroll, inventory, purchasing, sales and invoicing, time billing, and more.
- Various add-ons. Account Edge primarily runs on desktops but add-on options allow you to extend its functionality. For an additional $40 per month, you can get Account Edge Hosted to collaborate from the cloud or Account Edge Connect to access the tool from your mobile.
- Free accountant copy. The vendor gives a free copy of Account Edge for CPA or EA accountants in public practice. With this, your accountant can share files with you to make sure you are in agreement.
- Flexible pricing plans. You can get started with Account Edge for as low as $10 per month. Pricing packages increase as the number of users increases at a maximum of $100 per month for a cap of 50 users.
- Company Data Auditor. The Account Edge data auditor feature keeps a backup of your company file, protects your reconciled financial data, and keeps an audit trail of your records. This way, you can put your mind at ease knowing your business data is secured.
ZipBooks is a simple but powerful accounting software that addresses common accounting pain points to elevate your business. With ZipBooks, you can get paid faster, simply account reconciliation, and get actionable, data-driven insights to stand out from the competition.
The tool allows users to keep track of billable expenses, keep a record of account receivables, and act on feedback about your business to increase revenue and performance. ZipBooks offers a free-forever plan called the Starter plan. They also offer a Smarter plan at $15 per month, a Sophisticated plan at $35 a month, and an Accountant plan with custom pricing. Customer support via chat is available for the Smarter and Sophisticated plans. ZipBooks can be integrated with Slack, Gusto, Asana, Google Drive, Google Chrome, and Google Apps.
What is unique about ZipBooks?
- Smart feedback. ZipBooks gives you feedback on how you can make your invoices better through a confidence score. This is based on vendor research on more than 200,000 invoices so you can secure payments faster.
- Project tracking. With ZipBooks, you don’t have to spend on additional software to manage projects. The tool helps you tag income and expenses as well as track time and tie it to an invoice.
- Business intelligence. ZipBooks goes beyond the usual financial reporting and gives customers actionable insights that they have gathered from millions of data points. These smart business decisions help businesses optimize their business in all areas.
- Trial balance. ZipBooks’ trial balance feature aids accountants in spotting any discrepancies so they can make the appropriate adjustments in their financial reports. It’s easy and convenient to generate a trial balance within the reports section so you can produce error-free financial reports.
- Taxes invoiced. ZipBooks helps users keep track of the taxes they have collected to ensure compliance with tax regulations. You can create an unlimited number of tax types, generate an invoiced taxes report, and filter tax payments by period.
Float is a cash flow forecasting software that helps you understand your present and future cash balance and make accurate future projections of your cash flow. With Float, businesses can gain the data needed to make crucial decisions for their business.
Float offers more forward-looking functionality than ordinary accounting software. Thus, Float imports data from Xero, QuickBooks, and FreeAgent users to give you a daily cash flow forecast. Armed with this information, you can answer common questions such as whether your business has broken even or if you can afford to spend extra cash. Float offers three types of plans: Essential, Premium, and Enterprise. They come at different prices based on geography. All plans include an onboarding call with a Float expert and quarterly and monthly forecast reviews.
What is unique about Float?
- Project cash flow. With Float, you can project cash flows for the next three or six months. With this, you can adequately prepare for big projects and allocate cash for payments.
- Accurate forecasts. With Float, you can catch a glimpse of outstanding invoices and bills and provide an estimate of when they will be paid. This way, you can prevent cash gaps and maintain a healthy bank balance to make prompt payments.
- Help from a Float expert. Float provides clients with the support you need for setting up the software through an onboarding call. They also have monthly and quarterly reviews of forecasts for Premium and Enterprise plan subscribers.
- What-if scenarios. With Float, you can make projections that will help you analyze the impact of big decisions, whether that is buying a new piece of equipment, hiring more employees, or paying your suppliers. The pricing plans support a maximum of 100 additional scenarios for subscribers.
- Historical and future data. Float features weekly summary cash emails that can store up to six months of historical data. On the other hand, future projections can reach 6 months up to 3 years of runway.
Hubble is a budget and planning software that promises to significantly slash cycle times to as much as 70%. One component is the Hubble Planning module which helps users to reduce manual errors, avoid data dumps, and back-and-forth emails during the planning cycle. On the other hand, Hubble Enterprise leverages the capabilities of JD Edwards and Oracle Business Suite to create dashboards for your daily financial needs.
Users can easily create ad-hoc inquiries and drill into financial and operational reports from a single source of truth. Data can be turned into visual dashboards to communicate information in a more compelling way. Hubble offers custom pricing plans that are crafted after a 20-minute discovery call that explores the unique needs of your business.
What is unique about Hubble?
- Actual vs forecast budgeting. With Hubble, users get actual versus forecast budgeting in real-time so they always have updated forecasts. They can also conduct what-if scenarios, then import the data to an ERP.
- Simplified budget and entry approval. Hubble eliminates the need to consolidate multiple reports in Excel and allows cost centers to upload their data in one central platform. Users can create a simplified workflow for managing data entry and configure an approval process for improved corporate governance.
- Data integrity. Direct integration with JDE and EBS allows users to pull data directly from these ERP systems for data entry and performance tracking. With this, there is less room for errors and users don’t have to dump static data into Excel since they always have the most updated information at their fingertips.
- Data visualization. With Hubble, you can translate KPIs into dashboards that anyone can easily understand. Data visualizations can be customized to include your own images.
- Out-of-the-box reports. Hubble allows users to set up their system fast so they can build customizable, out-of-the-box reports
Webexpenses is an award-winning solution that combines expense management with AP automation to streamline the business processes of small businesses and large corporations alike. It helps financial teams gain visibility into their expense management process, eliminate data entry in invoice processing, and turn employee expense reimbursement into a hassle-free experience.
Expense management features include petty cash management, corporate card matching, and mileage tracking. On the other hand, its invoicing capabilities are mainly powered by OCR technology that seamlessly captures and uploads invoice data and matches it with suppliers. Webexpenses provides custom plans that are based on the number of users. It also has a mobile app for iOS and Android where users can scan receipts, manage expenses, and approve and reject claims.
Detailed Webexpenses Review
What is unique about Webexpenses?
- Proven platform. Webexpenses boasts of a client base across more than 70 countries. They have clients from various industries with a client retention rate of 99%.
- Scalable solution. The software supports both small businesses and large corporations. Webexpenses can be set up to meet your specific requirements, allowing it to grow with you as your business scales.
- Per-user pricing. The vendor offers pricing plans based on the number of users and they can avail of unlimited submissions once their plan is activated. This ensures that you pay only for your actual headcount and helps you save on business expenses.
- In-house support. Customers can get the help they need from support agents in the UK, the US, and Australia. Customer support is available 24 hours and the vendor is committed to providing superior service.
- Award-winning software. Webexpenses have been recognized in the industry for its great user experience and for providing quality software for small businesses. They have also earned accolades for customer experience.
Rabio, which stands for Rapid Business Information Organizer, is an open-source budgeting software solution that allows users to manage financial activities. The cost-breakdown structure of the tool allows users to manage the financial resources of a project and calculate them based on various financial metrics. On the other hand, cost control measures grant users access to budget and actual costs and group cost centers.
Rabio offers two editions: the free version of Rabio, which mainly offers budgeting capabilities and Rabio Pro where you have to pay extra to get reports. They also offer Rabio Docs, an open-source web document writer. For clients whose needs go beyond what the out-of-the-box solution can offer, the vendor provides custom software services for the client’s unique workflow or processes.
What is unique about Rabio?
- Open-source software. Rabio operates within an open-source model and the software can be downloaded for free under a GPLv3 license. Using open-source software can lessen the hardware costs because you save on licensing fees.
- Flexible solution. Usage of the software is not limited to cost control but also for processing data meant for project management. It has also been recently used to process COVID-19 data in demo versions of the software.
- Integrations. Rabio can be connected to other apps like accountancy software or other data sources. With its flexible data structure, you can generate a wide variety of reports, which can be exported in various formats.
- Custom software. Rabio offers custom development services when customers find that the features or services they need are not addressed by the solution out of the box. Clients interested in this service can contact the Rabio support team to initiate discussions.
- Web document editor. Aside from the budget software, the vendor offers Rabio Docs, an open-source web document writer. They can use it to write documents, save them in a database, and print or share them with others.
20. Planning Maestro
Planning Maestro is a planning, budgeting, and forecasting software that helps businesses consolidate data from multiple sources, forecast financial performance, and make intelligent business decisions. Planning Maestro solves the pain points of inefficient budgeting, planning, and forecasting activities brought about by data siloes. For architecture, engineering, and construction clients, it helps them assess project profitability and act on consolidated data.
The main functionalities of Planning Maestro are planning, budgeting, forecasting and reporting, and analytics. With intelligent planning, all key team members and decision-makers are involved while making sure that their access to information is appropriate to their role. The vendor offers three quote-based plans: Standard, Professional, and Enterprise. All plans are inclusive of a Customer Success Manager, self-service knowledgebase, access to eLearning videos and online community forum, and standard support.
Detailed Planning Maestro Review
What is unique about Planning Maestro?
- Easy setup. With Planning Maestro, you can get your budgeting system up and running in just a few days. You can load business data by following setup wizards, language prompts, and preformatted templates even without lacking programming skills.
- GL integration. Planning Maestro integrates with your general ledger so you can produce budgets faster and create ongoing versus actual budget comparisons. Direct GL integration also ensures that there will be no data errors or duplicate information.
- Intelligent planning. Planning Maestro eliminates the error-prone method of using spreadsheets for corporate financial planning. With the software’s pre-programmed logic, you can generate driver-based budget models and assess the impact of making strategic decisions.
- Collaborative enterprise planning. Planning Maestro has features that involve all contributors and stakeholders in corporate financial planning. With role-based security, users only see data relevant to their role while self-serve reporting gives the user the ability to review operational performance data and forecasts.
- Connect to data sources. Planning Maestro’s data modeler allows users to leverage their data for intelligent modeling. You can transfer data from your accounting or ERP software, including charts of accounts, trial balance data, and existing general ledger budgets.
Keeping Up with the New Normal
Globalization and the demand for green buildings are just some of the trendlines that experts have noticed, as per recent construction industry statistics. To successfully respond to these, firms need to have the right construction budgeting software for their business. Otherwise, they may be left behind, especially with the revival of construction projects brought about by government-led spending on the industry.
FreshBooks stands out among the pack of vendors in this list of best budgeting software for construction business due to its intuitive platform that can be scaled for any growing business. It also has affordable pricing plans fit for construction businesses that have employees and contractors. Interested customers can always try the plan for free, no credit card is required.
In case you find that this platform does not fit your needs, you can always check out the other products on this list. You can also take a look at this list of the leading budgeting solutions on the market to further expand your options.