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. 

The key features of construction accounting software include: 

• Job Costing: Tracks the costs associated with each project, including labour, materials, plant and equipment. This helps in accurate project budgeting and profitability analysis.   
• Progress Billing: Generates invoices based on the stage of completion of a project, ensuring timely cash flow.   
• CVR: Tracks and reports on Cost Value Reconciliation (CVR) across construction projects.   
• Change Order Management: Handles changes to project scope and associated cost adjustments, maintaining transparency and accountability.   
• Plant and Equipment Management: Tracks the purchase, maintenance, and depreciation of construction equipment.   
• Payroll and Time Tracking: Manages employee payroll, including taxes, deductions, and time tracking for accurate labour cost allocation.   
• Financial Reporting: Generates comprehensive financial reports, including profit and loss statements, balance sheets, and cash flow statements, to aid in decision-making.
• 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 UK 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 UK 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. 

 Speak to our team today to learn which platform might be best for your company or take a look at our Best construction accounting software article for a deep dive into some of the top solutions 

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. 

Construction financial software refers to specialised software solutions designed to address the unique financial management needs of construction companies.   

These software systems provide robust features tailored to the construction industry, allowing firms to effectively manage their finances throughout the project lifecycle. Key functionalities of construction financial software typically include:  

• Budgeting and Estimating: Tools for creating accurate project budgets and estimates, considering factors such as labour, materials, equipment, and overhead costs. 
• Cost Tracking: Ability to track project expenses in real-time, monitor budget vs. actual costs, and identify areas for cost-saving opportunities. 
• Invoicing and Billing: Features for generating invoices, tracking payments, and managing billing cycles to ensure timely and accurate billing to clients and subcontractors. 
• Job Costing: Capability to allocate costs to specific projects or job phases, enabling accurate cost allocation and profitability analysis. 
• Financial Reporting: Reporting tools that provide insights into financial performance, including profit and loss statements, balance sheets, cash flow analysis, and project-specific financial reports.