Construction Accounting Software for Oklahoma Contractors
FOUNDATION® is construction accounting software built for contractors who run public, federally funded and private work across Oklahoma.
The work in the field is not the hard part. Proving what happened, what it cost and what is owed is — and that changes with every contract type you take on.
Generic accounting software records transactions. Construction accounting software records jobs. That difference shows up in cost codes, committed costs, change orders, retainage, prevailing wage rates and pay applications that all have to keep agreeing with each other as a job moves.
With FOUNDATION, you get:
-
An easy way to track labor, materials, equipment and overhead by job and cost code
-
Automatic calculations of prevailing wage rates, union fringes and multi-jurisdiction taxes
-
Options for progress, percent-complete and unit-price billing formats
-
Free job cost reports that show a project's position before the period closes
Hear what Lupita M., a payroll and compliance manager, says about FOUNDATION: "Overall, what stood out most was that FOUNDATION clearly understands how construction companies actually operate, and it's built more for financial accuracy and job control than surface‑level simplicity — which is often exactly what construction accounting teams need."
Foundation Software has served the construction industry since 1985, and more than 40,000 construction professionals use FOUNDATION to manage the financial side of their businesses.
But that's just the beginning. Keep reading to discover how our accounting software can give you real-time insight into your project’s financials, boost profitability, and give you a competitive edge in Oklahoma's construction industry.
Financial Challenges Facing Oklahoma Contractors
Oklahoma statute 61 O.S. § 121 caps change orders, sets retainage rates and governs payment timing on public construction contracts.
Those rules reward contractors who track jobs as they go and punish contractors who reconcile at the end of the month.
Change Orders Have a Ceiling on Public Work
Oklahoma limits how far a public contract can grow through change orders. 61 O.S. § 121 caps cumulative change orders on Oklahoma public contracts at 15% for contracts of $1 million or less and the greater of $150,000 or 10% above that. Exceed the cap and the incomplete work goes back out for bids.
So the number that matters is the running total, not the change in front of you. ProjectHQ®, Foundation Software's construction project management software, gives PMs one place to log change requests, route them for approval and track project documentation. Approved change orders move into FOUNDATION and update the job budget, so the contract amount you measure costs against stays current as changes stack up — and accounting is not working from a different number than the field.
Retainage Turns Profitable Jobs Into Tight Months
Oklahoma public owners withhold up to 5% of partial payments, dropping to 2.5% once the awarding agency calls the project 50% complete. ODOT and the Turnpike Authority withhold nothing on contracts they award, but they hold you to a 15-day clock on paying your own subcontractors and suppliers.
Money held upstream and money owed downstream move on different schedules. FOUNDATION reports A/R aging and retainage by job, customer and project manager and tracks A/P retainage, due dates and holds against your committed costs.
Field Hours and Certified Payroll Do Not Always Match
Field hours and certified payroll records can show different information when time and worker details don't transfer accurately from the jobsite to payroll. For contractors working on federal or federally funded construction projects in Oklahoma, those discrepancies can create compliance problems. Sign-in sheets may not match submitted time, workers can be missed and employees may be assigned the wrong classification.
WorkMax®, Foundation Software's construction time tracking software, helps contractors capture employee hours in the field and assign them to the correct job and cost code. That time data can flow into FOUNDATION's Payroll Module, which calculates prevailing wage, union fringe and multi-jurisdiction rates and generates certified payroll reports using the same payroll and job cost records.
What Are the Benefits of Using Integrated Construction Accounting Software?
There are a number of advantages to choosing Oklahoma’s #1 Construction Accounting Software. From financial transactions to real-time insights, contractors can get what they need to help improve their business growth.
Since 1985, Foundation Software has seen firsthand how construction accounting software can transform financial management for contractors, construction companies, and their employees.
Here are some benefits you get with an accounting platform designed specifically for this industry.
Even with all these benefits, some contractors opt for off-the-shelf accounting software, but for the complexities you face, you need software designed for your business.
Now, let's look at some of the accounting features you get from FOUNDATION.
FOUNDATION Construction Accounting Software
Our cutting-edge construction accounting solution accurately tracks the details of every job with customized drill-downs, so you aren't blindsided by cost overruns or unexpected expenses.- Job Costing
As a contractor, you need to know exactly where every dollar, hour, and quantity goes on your jobs. With the FOUNDATION Job Costing Module, you get Microsoft® SQL Server®-powered reporting, which means stress-free job costing across the date range you need.
You'll be able to:
- Review project cash flows
- Allocate overhead
- Generate work-in-progress (WIP) reports
- Get real-time job costing: production reports, estimated vs. actual, percent complete
- Receive automated alerts to avoid cost or labor overruns
Job costing software for construction companies is integral for your projects. With FOUNDATION, you can closely monitor spending and stay within budget. You can build job budgets with your company's job cost structure and compare project performance against estimated revenue, costs, labor hours, and quantities.
Using construction job costing software improves your financial oversight and planning capabilities, helping you maximize profits and operate more efficiently.
Accounting Software Built For The Construction Industry
When your cost data, your billing and your field hours come from the same system, the month-end scramble mostly disappears. You know which jobs are carrying their weight, what is being held and what is coming in.
That is what FOUNDATION gives Oklahoma contractors:
- Job costs you can act on
- Payroll that keeps up with the work
- Billing that fits the contract
- Cash flow you can see
Your business has outgrown the workarounds. Switch to FOUNDATION, built for contractors who need their books to keep pace with their jobs.
