The Best Construction Accounting Software In New Jersey
The New Jersey construction industry is projected to grow to $54.8 billion in 2024 and 2025. With the number of projects that will be happening in The Garden State, contractors need to make sure they have the best accounting software in New Jersey.
Managing job costs and budgets will be even more important when bidding on larger construction projects. Using spreadsheets or accounting software that isn’t designed for construction projects can mean that you are leaving money on the table and at risk of losing money on your jobs.
That’s why contractors need accounting software designed specifically for contractors in mind. With a software that is built for the construction industry, New Jersey contractors can:
- Streamline change order management with real-time cost tracking
- Simplify complex tasks like revenue recognition, billing, and payroll
- Schedule recurring invoices with accounts payable software to save time on data entry
- Streamline accounting process for increased efficiency and reduced errors
- Prepare for audits and reviews with confidence
Don’t rely on generic accounting to handle the complex challenges you face. There's a better solution: 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 New Jersey contractors address specific challenges like:
- Gain real-time visibility into project budgets by cost code with drill-down capabilities
- Gain crew-level insights into labor costs for improved workforce management
- Ensure accurate revenue recognition with built-in support for the percentage of completion method
- Creating and tracking budgets for different phases of construction projects
Ready to take control of your job costing and build a thriving construction business in New Jersey? Keep reading to discover how FOUNDATION can transform your operations.
The Growing New Jersey Construction Industry
The New Jersey construction industry is booming across various sectors over the next two years. This increase in large-scale projects presents both exciting opportunities and significant financial management challenges for construction companies. Let’s look at some of these projects:
Amtrack is investing $10.9 billion in New Jersey. New Jersey’s public water, sewer, gas, and electric utilities are planning to spend $7.5 billion over the next two years on major infrastructure improvements. NJ Transit will also be investing $5.2 billion in 2024 and 2025. There will be an investment of $3.9 billion in construction for the state’s hospital sector.
What Are the Benefits of Using Integrated Construction Accounting Software?
There are a number of advantages to choosing New Jersey’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
Imagine a future where you have more time to focus on building and less on bookkeeping. FOUNDATION empowers you to streamline accounting tasks, gain real-time project insights, and make data-driven decisions for your construction business in New Jersey.
With FOUNDATION, New Jersey contractors can improve efficiency and reduce errors, allowing them to focus on what matters most—building success.
See the difference FOUNDATION can help with:
- Effortless Time Tracking: Ditch manual timesheets with our construction mobile time tracking app for improved accuracy and reduced administrative burdens
- Real-Time Project Visibility: With real-time data at your fingertips, you can gain instant insights into project budgets, job costs, and profitability
- Smarter Financial Decisions: Make data-driven choices with FOUNDATION's powerful reporting and analytics that help you identify trends and optimize cash flow
- Effortless Payroll and Compliance: Simplify your construction payroll processing, ensure Davis-Bacon Act compliance, and confidently manage prevailing wages
- Streamlined Payments: Manage accounts payable and receivable efficiently, ensuring timely payments to vendors and faster collections from clients
Whether you need help with job budgets, certified payroll, cash flow, or getting accurate reporting, FOUNDATION has the solutions for you.
With almost 40 years of experience serving the construction industry, we are the best construction accounting software solution for contractors who want to transform their business.
