When you go to the grocery store the price of items is listed right underneath them. When you buy a house the first thing you ask is, “how much does it cost?”
Construction accounting software is a bit different though. The price tag is not listed right up front because it varies from business to business. There are several factors that impact the cost, including:
The modules or features you need for your business
The number of users you have
The support you need
Let’s discuss some of the features involved to help you get a better idea.
Software designed for your business
The cost of construction accounting software varies widely because of the complexity of the software. Each system is designed to meet the needs of the business it is being sold to. There is no need for you to buy a complex WorkForce scheduling module when you have only 5 employees. There is also no need for you to have a complex inventory system designed for flooring contractors if you are an electrical contractor.
Modules
We want you to have the right system that works for your business. That is why our software is designed in modules. You can pick and choose which ones you need that work for your needs. You will get everything you need and nothing that you cannot use.
We offer what we call the Basic Five to start: Account Payable, Accounts Receivable, Job Cost and Billing, General Ledger and Payroll.
There are additional modules for:
Fixed assets & Equipment
Inventory Management
Document Imaging
Project Management
Quote proposals & Roll inventory
WorkForce Scheduling
Purchasing
Work Orders
STRUCTURE Mobile
Users
Another portion of the cost comes from the number of licenses or users you have. For example, if you buy five licenses you can create logins for five of your employees.
STRUCTURE uses concurrent users, meaning you can have multiple users, but only a certain number can be logged in at one time. This allows you to have as many user logins as you need without having to purchase licenses for all of them.
STRUCTURE Mobile user licenses are sold by named users, meaning that you must have a license for every user.
Support
The most difficult part of purchasing new software is the implementation. You need time to train all of your employees how to use the new system and to get all of your information transferred over. Having the right support along the way will make all the difference in the world for this transition.
Support is also useful when you have questions about different processes or when you hire a new employee later on, to get them up and running.
Maintenance
Included in the maintenance costs are regular updates. Updates ensure that you have the latest compliance information for taxes and reporting. They will also keep you current on the new developments released so that you have all the latest and greatest features. Making sure that you keep up with all of the updates will help keep your system running optimally.
Why does construction accounting software cost more than regular accounting software?
Construction accounting software costs more that regular accounting software because it is customized to the construction industry. It is built specifically for contractors, with features that only contractors need. It is also highly customizable so that it can be tailored to your specific business. Because it is built in such a specific way for only a certain amount of people it will cost more than the generic counterpart.
Conclusion
Construction accounting software is a big investment for any construction business. There is a lot more to consider than just buying something off of the shelf.
We are more than happy to go over these factors with you anytime. In just a short conversation we can give you a quote for a software package that meets the unique needs of your business.