The Best Construction Accounting Software In Colorado
Inaccurate job costing is one of the most frustrating experiences for a contractor. Using generic accounting software that isn’t designed for the construction industry can make tracking the financials of multiple projects difficult. Poor job costing and limited visibility can cause costly project delays and unexpected costs. That’s why contractors need the best construction accounting software in Colorado to help them keep their projects and their businesses profitable.
When contractors don’t have to rely on spreadsheets or time-consuming data entry, they can save time and have data-driven insights into the performance of their construction projects.
By leveraging features of accounting software for contractors designed for the unique needs of the construction industry, Colorado contractors can:
- Gain real-time project insight and job cost tracking to maximize profitability
- Simplify complex tasks like revenue recognition, billing, and payroll
- Better cashflow management
- Streamline accounting process for increased efficiency and reduced errors
- Prepare for audits and reviews with confidence
Contractors can’t depend on off-the-shelf accounting software to help them handle their increase in projects or take on a megaproject. They need accounting software to help them take on bigger projects with confidence.
They need FOUNDATION® accounting software.
FOUNDATION isn’t just accounting software — it’s a comprehensive financial management solution built by construction veterans who understand your challenges. Over 40,000 construction professionals across the country trust FOUNDATION to simplify their finances and empower them to build stronger, more profitable businesses.
FOUNDATION helps Colorado contractors address specific challenges like:
- Complex wage and hour regulations
- Difficulty allocating overhead costs
- Time-consuming manual data entry
- Scheduling invoices or creating recurring invoices
- Maintaining project budgets
- Keeping records organized for potential audits
Using integrated accounting software like FOUNDATION, you can make your projects and business more profitable. Keep reading to see how FOUNDATION can help your business.
The Growing Colorado Construction Industry
Xcel Energy is planning on five major power transmission projects in the Centennial State starting in 2024. In total, there are 63 planned projects in the 10-year transmission plan submitted in 2022. As part of the plan, Xcel Energy has proposed to develop 6500 megawatts of renewable energy by 2031. Many of these projects, like the Alamosa to Antonito transmission rebuild project, are set to be started soon.
The I-70 Floyd Hill Project started in 2023 and will continue until late 2028. It will cost $700 million and focus on improvements like adding a third westbound lane, rebuilding bridges, and extending the on-ramp for US 6 onto I-70. Construction on the central section is slated to begin in the fall of 2024.
Another project still in the concept phase is the Aerotropolis, which is planned to be built around the Denver International Airport. While the ambitious project hasn’t broken ground yet the plans to build the “airport city” would include extensive infrastructure, residential, commercial, and industrial construction.
With the transmission, infrastructure, and potential Aerotropolis projects, contractors need accounting software that will help them manage the long project timelines and provide improved budgeting and forecasting to help them ensure their jobs remain profitable.
What Are the Benefits of Using Integrated Construction Accounting Software?
There are a number of advantages to choosing Colorado’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 job costing software improves your financial oversight and planning capabilities, helping you maximize profits and operate more efficiently.
Get The Best Construction Accounting Software From Foundation Software
Making sure projects are running on schedule and within budget is critical for contractors. Accounting software, or spreadsheets, that weren’t designed for the construction industry can increase the chance of unexpected costs, delays, and underbidding.
You need construction software designed to help ensure that your business can provide accurate job costing and real-time insights so you can monitor the financial health of your projects.
With thousands of contractors choosing us, it’s easy to see why FOUNDATION is the construction accounting leader.
We understand the unique challenges facing Colorado construction companies. Our advanced accounting software provides the tools you need to streamline operations, manage costs effectively, and propel your business forward.
We have combined:
- Construction job costing
- Mobile time tracking
- Certified payroll
- Construction inventory and material management
- Accounts payable
- Accounts receivable
- General Ledger
- Construction reporting and analytics
- And more!
Whether you need help with improved budgeting and forecasting, getting real-time financial insights, or payroll compliance, FOUNDATION has the accounting solutions for you.
With almost 40 years of experience serving the construction industry, we are the best construction accounting software for contractors in Colorado who want to transform their business.
