Engineering Accounting Software Selection Guide

Unlocking the World of Engineering Accounting Software

Searching for the perfect software for your engineering firm can be a challenging task, whether you’re a newcomer or upgrading your current system. This comprehensive guide is crafted to assist you in efficiently choosing engineering accounting software that aligns with your business needs.

Understanding Engineering Accounting Software

Engineering firms require specialized project-based accounting software equipped with time-recording and billing functions to monitor billable hours and generate invoices. It should also include job costing features to track labor, equipment, subcontractors, and materials.

Key Features of Engineering Accounting Software

Core Accounting:

Managing financial operations, including the general ledger, payroll, accounts receivable, and accounts payable.

Project Management:

Automating scheduling, resource allocation, budget creation, and efficient staff time management.

Time & Resource Billing:

Flexible billing options, tracking employee time, and maximizing cost recovery.

Engineering Inventory Modules:

Categorized line items for various products and materials, ensuring accurate purchasing and billing.

Client Communication:

Automating client and contact management, lead tracking, marketing campaigns, and sales within the same system.

Comprehensive Audit Trail:

Tracking items from opportunity through completion, providing detailed accountability.

Data Visualization:

Viewing financial or operational information through customizable visual tools.

Benefits of Engineering Accounting Software

Inter-Company Coordination:

Streamlined data accessibility and analysis across different departments, even for remote staff.

Compliance Reporting:

Simplifying regulatory compliance through robust reporting tools.

Transparency:

Clear and concise view of costs and expenditures for informed decision-making.

Increased Productivity:

User-friendly systems reduce duplicate data entry, allowing more focus on business improvement.

Evaluating Engineering Accounting Software:

Considerations when evaluating systems

Fit for Billing Strategy: Does it align with your billing strategy, especially billable hours?

Tracking Criteria: Can it effectively track and store materials and equipment?

Specialty Data: Does it provide necessary data for your engineering specialty?

Client Comprehension: Can it produce documents ensuring client comprehension?

Project Accounting: Does it support a project-by-project accounting scheme?

Deployment Options:

Choose between cloud-based and on-premise systems, each with its advantages:

Cloud-Based:

Remote access, lower upfront costs, vendor-managed updates and maintenance.

On-Premise:

Increased control over the SQL database, suitable for firms with existing IT resources.

This guide empowers you to navigate the world of engineering accounting software and make informed decisions for your team’s success.

Engineering Accounting Software Selection Guide

Discover 10 best Engineering Accounting Software Solutions

Discover Builterra

Builterra makes construction projects smoother by offering a user-friendly web portal for real-time inspection data, progress reports, and detailed payment information. This cloud-based system, powered by Microsoft Azure, ensures that everyone involved uses the latest information for cost estimating. It simplifies the approval of monthly contractor invoices for public sector organizations and civil engineers. The Builterra mobile app allows on-site staff to easily collect data and photos, making quality assurance and asset management a breeze. Pricing is available through annual subscriptions with support provided via email and phone.

Explore BIM Track

BIM Track is a collaborative cloud-based solution for architects, engineers, and construction project managers. It helps create 3D models, manage issues, receive notifications, and visualize metrics. With a customizable hub, users can efficiently assign tasks and manage multiple projects. The solution’s issue dashboard and pie charts provide clear insights, and integration with Autodesk simplifies file management.

Get to Know Edificius

Edificius is a 3D building information modeling solution designed for small to midsize architecture, engineering, and construction companies. It offers parametric architectural objects, landscaping design, a textures library, and photo rendering features. Edificius simplifies drawing production with multiple views, including floor plans and cross-sectional views. Real-time 3D rendering allows users to track design status efficiently.

Meet ARCHICAD

ARCHICAD by Graphisoft is a user-friendly building information modeling (BIM) solution for architects and designers. It aids in conceptual design, visualization, and automatic drawing generation. ARCHICAD integrates with various construction systems like Revit and AutoCAD. It enables users to estimate energy requirements and costs. The solo version costs $240 per month, while the full version, at $280 per month, includes collaboration features and hotlinks.

Discover Revizto

Revizto is a cloud-based BIM collaboration platform connecting architecture, engineering, and construction teams. It ensures seamless communication and collaboration by allowing easy access to 2D and 3D project models. This platform facilitates effective decision-making throughout the project lifecycle, promoting teamwork.

Learn about Fieldlens

Fieldlens by RedTeam is a cloud-based jobsite management solution for construction builders. It simplifies task assignment, jobsite updates, drawing management, and progress tracking. The solution’s Plan View allows field workers to provide feedback and suggestions. Fieldlens offers offline accessibility and compatibility with iOS, Android, and web browsers.

Discover SYNCHRO Construction

SYNCHRO Construction offers integrated applications for digital construction management. From field management to virtual construction, SYNCHRO’s solutions optimize decision-making, resources, and profitability. The SYNCHRO Portfolio includes SYNCHRO Field, Control, Perform, Cost, and 4D. It helps construction teams stay on track, delivering projects efficiently.

Explore VPO in Microsoft 365

VPO in Microsoft 365 provides a secure collaboration platform for construction managers and owners. It centralizes project information, including schedules, change orders, and reports. VPO offers real-time program management visibility and integrates with accounting programs. With a rock-solid API, VPO ensures data synthesis for better decision-making.

Learn about Oracle Aconex

Oracle Aconex is a cloud-based operation management solution for construction and engineering projects. It supports document management, workflow automation, bid management, and more. Aconex offers real-time collaboration, BIM file management, and process control. It is suitable for various industries and supports global collaboration.

Discover InEight

With over 400,000 users worldwide, InEight offers real-time insights for risk management and project control. Its modular technology platform ensures seamless integration, focusing on project cost management, scheduling, risk mitigation, field execution, and document management.