Smarter construction accounting software for total cost control 

Construction accounting software is a specialised type of financial software designed to streamline and manage the unique financial needs of construction businesses. 

Construction accounting software helps construction companies track costs, manage projects, generate invoices, and maintain accurate financial records.    

Access Coins Evo goes beyond traditional accounting by using AI to automate reconciliation, forecast cash flow, and deliver real-time insights - helping construction firms manage costs, track project financials, and make smarter decisions faster. 

What are the Key Features of Construction Accounting Software? 

• Key features of construction accounting software include: 
• Job Costing – Track labour, materials, plant and equipment costs per project for accurate budgeting and profitability analysis. 
• Progress Billing – Generate invoices based on project completion stages to maintain healthy cash flow. 
• CVR (Cost Value Reconciliation) – Monitor and report on CVR across projects to protect margins. 
• Change Order Management – Manage scope changes and cost adjustments with full transparency. 
• Plant and Equipment Management – Track asset usage, maintenance, and depreciation. 
• Payroll and Time Tracking – Allocate labour costs accurately with integrated payroll and time tracking. 
• Financial Reporting – Automate board-level and project-specific reports with AI-powered insights. 
• AI Automation – With Access Coins Evo, automate reconciliation, forecasting, and month-end close to save time and reduce errors. 

Construction accounting software is purpose-built for the industry, while general accounting software is designed for broad use across sectors. 

Key differences include: 

• Project-Based Accounting – Track costs, revenue, and profitability per job. 
• Detailed Job Costing – Monitor labour, materials, and equipment at a granular level. 
• CVR Tracking – Essential for construction, CVR reporting is built-in. 
• Progress Billing – Invoice based on project milestones. 
• Industry Compliance – Features like certified payroll reporting support Australian construction regulations. 
• Construction-Specific Integrations – Seamless links to project management, estimating, and field service tools. 
• AI Capabilities – Unlike general tools, Access Coins Evo uses construction-specific AI to automate financial processes and deliver predictive insights. 

Construction financial management software helps firms manage finances across the project lifecycle. 
This can be enhanced with AI-powered tools that automate reporting, improve forecasting accuracy, and deliver real-time financial visibility. 

Key functionalities include: 

• Budgeting and Estimating – Create accurate budgets using historical and project-specific data. 
• Cost Tracking – Monitor spend in real-time and identify cost-saving opportunities. 
• Invoicing and Billing – Automate billing cycles and track payments. 
• Job Costing – Allocate costs to specific phases for profitability analysis. 
• Financial Reporting – Generate live dashboards and reports with AI-driven insights. 

Common types of software used in Australian construction accounting include: 

• ERP Systems – Like Access Coins Evo, which integrates financials, project management, and supply chain tools. 
• Construction-Specific Accounting Software – Tailored for job costing, CVR, and subcontractor management. 
• Project Management Platforms with Accounting Modules – Combine scheduling and financial tracking. 
• General Accounting Software – Basic tools for general ledger and accounts payable/receivable. 
• Cloud-Based Accounting Software – Enables secure, remote access to financial data. 
• Estimating Software with Accounting Integration – Streamlines the transition from bid to budget. 
• AI-Enhanced ERP (Access Coins Evo) – Adds intelligent automation, predictive analytics, and role-specific insights for finance teams. 

The best accounting software for a construction company depends on your business size, project complexity, and need for industry-specific functionality. 

• AI-Enhanced ERP Systems (e.g. Access Coins Evo): Ideal for mid- to large-sized firms needing a single platform that integrates financials, project data, payroll, and subcontractor management—with AI automation for reconciliation, forecasting, and reporting. 
• Construction-Specific Accounting Software: Tailored for the industry, offering features like CVR, job costing, and progress billing. 
• Project Management Software with Accounting Modules: Suitable for firms focused on scheduling and resource management, with basic financial tools. 
• General Accounting Software: A simple option for small businesses with limited project complexity. 
• Cloud-Based Accounting Software: Enables remote access and collaboration across multiple sites. 
• Estimating Software with Accounting Integration: Useful for firms that need to tightly link pre-construction estimates with financial tracking. 

When evaluating construction accounting software, look for features that go beyond general finance tools and are purpose-built for the construction industry: 

• Construction-Specific Features: Tools like job costing, CVR, subcontractor management, and progress billing are essential. 
• AI Automation: Choose software like Access Coins Evo that automates reconciliation, forecasting, and reporting—freeing up time for strategic work. 
• Integration Capabilities: Ensure seamless connection with project management, payroll, estimating, and field service tools. 
• Scalability: The platform should grow with your business and handle increasing project complexity. 
• Ease of Use: Look for intuitive interfaces and workflows that reduce training time. 
• Real-Time Reporting: Access live dashboards and predictive insights to support faster, data-driven decisions. 
• Mobile Accessibility: Enable teams to access financial data and complete tasks from any location. 
• Reliable Support: Choose a vendor with strong customer service, regular updates, and construction expertise.