Construction Accounting Software: A Guide for Growing NC Contractors

The best construction accounting software for growing NC contractors depends on company size and complexity - QuickBooks for contractors under $10M revenue, Foundation Software for mid-market firms needing customization, Sage 300 CRE for large multi-entity operations, and Procore Financial Management for firms already on Procore's project platform.

Key takeaway: According to RedHammer's 2025 Construction Accounting Guide, most contractors under $10M use QuickBooks, while larger operations require purpose-built solutions like Sage 300 CRE or Foundation that handle job costing, WIP reporting, AIA billing, and multi-entity accounting that generic software cannot provide.

Need help selecting and implementing construction accounting software? Preferred Data Corporation supports NC construction companies with technology selection, IT infrastructure, and system integration. BBB A+ rated with 37+ years of experience. Call (336) 886-3282 or schedule a consultation.

Why Construction Accounting Is Different

General-purpose accounting software fails construction companies because the industry has unique financial requirements:

• Job costing: Track revenue and costs against individual projects
• Work-in-progress (WIP) reporting: Calculate over/under-billing for accurate financial position
• AIA billing: Generate standardized Application for Payment documents (G702/G703)
• Retention: Track amounts withheld by owners and retained from subcontractors
• Change order management: Account for scope modifications affecting budgets
• Certified payroll: Meet prevailing wage and Davis-Bacon Act requirements
• Equipment costing: Allocate owned equipment costs to specific jobs
• Multi-entity accounting: Manage multiple companies, JVs, and related entities

For North Carolina contractors managing projects across the Piedmont Triad, Charlotte, and Raleigh-Durham, the right accounting platform eliminates financial blind spots that threaten profitability and bonding capacity.

Platform Comparison

Sage 300 CRE (Construction and Real Estate)

Overview: Enterprise-grade ERP for construction, formerly known as Timberline, purpose-built for mid-to-large contractors and real estate developers.

Best For: General contractors and specialty firms with $20M+ revenue, multi-entity structures, and complex project portfolios.

Key Capabilities:

• Comprehensive job costing with unlimited cost codes
• WIP reporting and percentage-of-completion revenue recognition
• AIA billing (G702/G703) generation
• Subcontractor management and compliance tracking
• Equipment management and internal rental rates
• Certified payroll (Davis-Bacon and NC prevailing wage)
• Document management integration
• Multi-company/multi-entity consolidation
• Service management for recurring maintenance work

Pricing: $200-$1,500+ per month depending on modules and users

Latest Version: 25.1 with enhanced general ledger and accounts payable features

Strengths:

• Industry standard for large NC contractors
• Deep feature set for complex operations
• Proven track record (decades of construction focus)
• Strong consultant and support ecosystem in NC

Limitations:

• Steep learning curve
• On-premises deployment (Sage Intacct Construction offers cloud alternative)
• Implementation can take 3-6 months
• Requires dedicated IT infrastructure

Ideal NC User: An established general contractor in Charlotte with 200+ employees, multiple subsidiaries, joint ventures, and bonding requirements exceeding $25M.

Foundation Software

Overview: Construction-specific back-office ERP with 35+ years of industry experience, delivering comprehensive job costing, payroll, and accounting tools.

Best For: Mid-market contractors ($10M-$50M) wanting customizable construction accounting without enterprise complexity.

Key Capabilities:

• Job costing with customizable cost code structures
• WIP scheduling and reporting
• AIA billing and custom invoice formats
• Construction payroll with certified payroll reporting
• Equipment cost tracking and allocation
• Change order management
• Subcontract management
• Custom reporting and dashboards
• Cash management and forecasting

Pricing: Mid-range; varies by module configuration

Strengths:

• Built exclusively for construction (no generic compromises)
• Highly customizable for specific workflows
• Strong customer service reputation
• Handles both commercial and residential work
• Flexible module selection

Limitations:

• Less name recognition than Sage
• Fewer third-party integrations
• Not as suitable for very small contractors
• Implementation requires planning

Ideal NC User: A specialty contractor in Greensboro or Winston-Salem with $15M-$40M revenue who needs robust job costing and payroll without the enterprise overhead of Sage 300 CRE.

QuickBooks for Construction

Overview: Intuit's popular accounting platform adapted for construction use with add-ons for job costing, estimating, and AIA billing.

Best For: Small contractors under $10M revenue who need affordable, familiar accounting with basic construction capabilities.

Key Capabilities:

• Basic job costing by class or customer
• Invoice customization for progress billing
• Payroll processing (additional subscription)
• Bank integration and reconciliation
• Mobile receipt capture
• Basic reporting and P&L by job
• Third-party integrations for advanced features

Add-ons for Construction:

• AIA billing: QBExpress, BillingBridge
• Job costing enhancement: Knowify, Buildertrend
• Certified payroll: Payroll4Construction
• Retention tracking: Custom configurations or add-ons

Pricing: QuickBooks Online Plus ($80/month) or Advanced ($200/month)

Strengths:

• Familiar interface (most bookkeepers know QuickBooks)
• Low cost of entry
• Large ecosystem of add-ons
• Strong mobile app
• Cloud-based (access anywhere in NC)

Limitations:

• Not purpose-built for construction
• WIP reporting requires workarounds or add-ons
• Retention tracking not native
• Scales poorly above 50 users or $20M revenue
• Certified payroll requires third-party tools
• Limited job costing depth

Ideal NC User: A growing residential or specialty contractor in the Piedmont Triad with 5-20 employees and under $5M revenue who needs affordable, easy-to-use accounting with basic job tracking.

Procore Financial Management

Overview: Financial management module within Procore's construction management platform, providing budget tracking, invoicing, and financial reporting integrated with project management.

Best For: Contractors already using Procore for project management who want unified financial and operational data.

Key Capabilities:

• Budget management with real-time tracking
• Owner billing and payment applications
• Subcontractor invoice processing
• Change order financial impact tracking
• Commitment tracking (POs and subcontracts)
• Prime contract management
• Financial reporting and forecasting
• Integration with external accounting (Sage, QuickBooks, etc.)

Pricing: Based on annual construction volume; enterprise pricing

Strengths:

• Unified platform for project and financial management
• Real-time budget vs. actual visibility
• Field-to-office data flow
• Strong collaboration features
• Modern, cloud-native interface

Limitations:

• Not a standalone accounting system (needs integration with GL system)
• Expensive for smaller contractors
• Best value only with full Procore platform adoption
• Implementation complexity for financial modules

Ideal NC User: A mid-to-large commercial GC in Charlotte or Raleigh already using Procore for project management, wanting to eliminate duplicate data entry between field and accounting.

Sage Intacct Construction

Overview: Cloud-native construction accounting from Sage, offering modern architecture with construction-specific capabilities.

Best For: Multi-entity contractors wanting cloud-based construction accounting with enterprise reporting.

Key Capabilities:

• True cloud architecture (no on-premises infrastructure)
• Multi-entity consolidation with intercompany transactions
• Dimensional job costing
• Revenue recognition (ASC 606)
• Advanced analytics and dashboards
• API-first design for integrations
• WIP and project profitability reporting

Pricing: Premium; typically $1,000-$3,000+/month

Strengths:

• Cloud-native (no server infrastructure needed)
• Modern interface and user experience
• Strong financial reporting and analytics
• Scales with company growth
• Regular feature updates without upgrade projects

Limitations:

• Higher monthly cost than on-premises options
• Newer to construction market (less proven than Sage 300 CRE)
• Some construction-specific features still maturing
• Fewer construction consultants currently available

Ideal NC User: A fast-growing, multi-entity contractor in Charlotte or the Research Triangle wanting modern cloud accounting without on-premises infrastructure burden.

Comparison Matrix

Selection Criteria for NC Contractors

By Revenue Size

Under $5M:

• QuickBooks Online Plus with construction add-ons
• Focus on: Simple job costing, basic billing, bank integration

$5M-$10M:

• QuickBooks Advanced or Foundation Software
• Focus on: Better job costing, WIP reporting, growing payroll needs

$10M-$30M:

• Foundation Software or Sage 300 CRE
• Focus on: Advanced job costing, certified payroll, subcontractor management

$30M+:

• Sage 300 CRE, Sage Intacct, or multiple integrated systems
• Focus on: Multi-entity, bonding support, advanced reporting, consolidation

By Project Type

Residential (Custom Homes, Remodeling): QuickBooks with Buildertrend or CoConstruct integration

Commercial GC: Sage 300 CRE or Procore Financial + QuickBooks/Sage integration

Heavy Civil/DOT: Sage 300 CRE with certified payroll module or HCSS accounting

Specialty Trade (Electrical, Mechanical, Concrete): Foundation Software or Sage 100 Contractor

Design-Build: Procore Financial with Sage or QuickBooks integration

Key Construction Accounting Functions

Job Costing

The foundation of construction accounting:

• Track actual costs against budget by cost code
• Revenue recognition by percentage of completion or completed contract
• Forecast final project profitability
• Identify cost overruns early enough to address them
• Compare estimated vs. actual for future bidding accuracy

For NC contractors managing 10-50 concurrent projects across High Point, Greensboro, Charlotte, and Raleigh, real-time job cost visibility prevents project-level losses from becoming company-level problems.

WIP (Work-in-Progress) Reporting

WIP reports reveal your true financial position:

• Over-billed: You have billed more than earned (liability on balance sheet)
• Under-billed: You have earned more than billed (asset, collect it)
• Net WIP: Key indicator for bonding company and bank reviews

Bonding companies require WIP schedules for NC contractors seeking increased bonding capacity. Accurate WIP reporting is essential for business growth.

AIA Billing (G702/G703)

Standard billing format required by most commercial project owners:

• Schedule of Values with percentage complete
• Previous applications and current period work
• Retention calculations
• Change order incorporation
• Proper formatting for owner and architect review

PM Integration

Construction accounting delivers maximum value when integrated with project management:

• Budget-to-actual flowing from field to accounting
• Subcontract and purchase order commitments
• Change order financial impact (approved, pending, potential)
• Daily report labor costs matched to job budgets
• RFI and submittal cost tracking

Need help integrating your construction technology stack? Preferred Data Corporation connects accounting, PM, and estimating systems for NC contractors. Explore our managed IT services for construction.

Implementation Best Practices

Planning Phase (4-8 weeks)

• Document current processes and pain points
• Define chart of accounts and cost code structure
• Plan data migration from existing system
• Identify integration requirements
• Establish user roles and access levels
• Set realistic go-live timeline (avoid year-end)

Implementation Phase (8-16 weeks depending on platform)

• Configure system based on planning decisions
• Migrate historical data (at minimum, open projects)
• Set up users, roles, and permissions
• Configure billing templates and workflows
• Train users by role (AP, billing, PM, executive)
• Run parallel for one full billing cycle

Go-Live and Optimization

• Complete first real billing cycle on new system
• Address issues immediately (dedicated support during transition)
• Refine reports and dashboards based on user feedback
• Add advanced features after core processes stabilize
• Quarterly reviews for the first year

Key takeaway: For NC contractors, timing your accounting software transition matters. Avoid going live during peak season or fiscal year-end. Many Piedmont Triad contractors implement during the slower winter months (January-February) to allow training time before spring project ramps.

IT Infrastructure Requirements

Different platforms have different infrastructure needs:

Cloud Platforms (QuickBooks, Procore, Sage Intacct):

• Reliable internet at all office locations
• Modern web browsers
• Basic workstations (no special hardware)
• Mobile devices for field access

On-Premises (Sage 300 CRE, Foundation):

• Dedicated server or hosted environment
• Network infrastructure with proper backup
• Remote access solution (VPN or hosted desktop)
• Regular backup and disaster recovery
• IT support for maintenance and updates

For NC contractors with offices in multiple cities (Charlotte and Raleigh, for example), cloud solutions eliminate VPN complexity while on-premises solutions may require hosted desktop environments for remote access.

Frequently Asked Questions

When should a contractor switch from QuickBooks to construction-specific software?

Consider switching when: your projects regularly exceed $500K, you need true WIP reporting for bonding, you have certified payroll requirements, you are managing 10+ concurrent projects, or your revenue exceeds $5-10M. These are the thresholds where QuickBooks limitations create real business risk for NC contractors.

How much does construction accounting software cost?

QuickBooks starts at $80/month but add-ons can push total cost to $200-$400/month. Foundation Software is mid-range. Sage 300 CRE ranges from $200-$1,500+/month depending on modules and users. Implementation costs add 50-100% of first-year license fees. For a 10-person Greensboro contractor, budget $10,000-$30,000 for the first year including implementation.

Can construction accounting software integrate with our estimating and PM tools?

Yes. Most platforms offer integrations: Sage 300 CRE integrates with Sage Estimating and many PM tools. Procore Financial connects natively to Procore PM. Foundation and QuickBooks integrate with various estimating and PM platforms through APIs or middleware. Integration eliminates duplicate data entry and improves accuracy.

How long does implementation take for a mid-sized NC contractor?

QuickBooks with construction add-ons: 2-4 weeks. Foundation Software: 6-12 weeks. Sage 300 CRE: 12-24 weeks for full implementation. Factors affecting timeline include data migration complexity, number of open projects, integration requirements, and staff training needs. Plan for parallel operation during at least one billing cycle.

Should I choose cloud or on-premises construction accounting?

Cloud is ideal for growing firms wanting anywhere access, minimal IT overhead, and automatic updates. On-premises offers more customization, potentially better performance for large databases, and data residency control. For NC contractors with multiple offices or field staff needing access from job sites across the Piedmont Triad and Charlotte, cloud solutions typically provide better value despite higher monthly costs.

Build Your Financial Foundation

The right construction accounting software gives NC contractors the financial visibility needed to grow profitably, maintain bonding capacity, and make informed business decisions. Whether you are a specialty contractor in High Point or a large GC in Charlotte, matching your technology to your business complexity is essential.

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