General Inquiries

Project Mgt- Accounting Software

  • 1.  Project Mgt- Accounting Software

    Posted 18 days ago

    We are GC out of central Mississippi and cover all states in the Southeast region. We are to a point of where we have outgrown our accounting- pm software, ComputerEase. We are looking at all options and I would like your feed back on pros and cons for software that integrates efficiently between field and office. Would prefer one software for both but open minded to an accounting based partnering with a PM based software. If you recommend two, which has seemed to work best for you. I look forward to your feedback.

     

    Thanks      

     

    www.thrashco.com| tflickner@thrashco.com | Contact us:           

     



  • 2.  RE: Project Mgt- Accounting Software

    Posted 18 days ago
    It's been my experience that even the best construction accounting software usually does a mediocre job at Project Management at best, especially for GC work.  I've worked with Sage 300, Spectrum, Quickbooks, and Vista.  I highly recommend Procore for Project Management, as it integrates with most construction accounting software and overall offers the best comprehensive and customized product.  Of the construction accounting software I've worked with, both Sage 300 and Spectrum are great.

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    Heather Thomasson
    Senior Staff Accountant
    United Mechanical Service
    Donohue Commercial Service
    Oklahoma City, OK
    (405) 528-1234
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  • 3.  RE: Project Mgt- Accounting Software

    Posted 17 days ago
    Hi Heather, love this observation.

    Would you say the opposite is also true, ie. the best project management tools are mediocre at financials (with maybe the exception of Procore)?

    Geoff Arnold
    CEO + Co-Founder
    lienwaivers.io
    Nashville TN
    1-844-258-1818


  • 4.  RE: Project Mgt- Accounting Software

    Posted 17 days ago
    I don't know of any mainstream Project Management software that has tried to do comprehensive construction accounting software.  PM products, like Procore, tend to lean towards open API's and integrations and let the existing accounting software companies be the experts at accounting, partnering with them rather than competing.  Project Mates, Procore, and other stand-alone PM products focus on producing useful and comprehensive project data, and when it comes to niche areas, such as Lien Waivers, electronic signature capture, etc., they work industry experts, such your company, to fill those gaps for their customers.

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    Heather Thomasson
    Senior Staff Accountant
    United Mechanical Service
    Donohue Commercial Service
    Oklahoma City, OK
    (405) 528-1234
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  • 5.  RE: Project Mgt- Accounting Software

    Posted 18 days ago
    We are using Spectrum and Viewpoint TEAM.  Seamless integration.  Spectrum with query developer, allows for custom reporting that will refresh with current data; this has saved us a ton of time!

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    Tracy Rasmussen
    Senior Accountant
    Building Controls and Services
    Wichita KS
    (316) 267-5814
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  • 6.  RE: Project Mgt- Accounting Software

    Posted 17 days ago
    We went live with CMiC last year, using both the Financials and Project Management.  Everything integrates really well and the price is much more competitive than Procore+accounting.  CMiC isn't perfect (but none of them are), so be sure to do you research on the things that are most important to you.  We'd be happy to have a call about the pros and cons if you're interested.

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    Mariam Bruce
    Controller
    Affordable Solar Installation, Inc.
    Albuquerque NM
    (505) 944-4287
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  • 7.  RE: Project Mgt- Accounting Software

    Posted 14 days ago
    Edited by Frederic Guitton 14 days ago
    James,

    This is certainly a very interesting point you bring up. It often starts with how the product was born. For example if the product started as an accounting ERP and worked to add PM functionality or vice versa. Ideally you want a software built based on the perspective of a GC if you are a GC because, in our experience, the project financial management, document control and field to office communication are deeply intertwined. As mentioned in this thread no software is perfect and selecting the right partner will come down to taking a hard look at your needs and prioritize those based on factors such as desired outcome, functionality, ease of use, and of course value.

    Our approach in building RedTeam was to build a complete workflow in a single platform that provides you the ability to manage from opportunity tracking, estimating, bidding, RFQs, contract formation, progress billing all the way to maintaining a live WIP report. Because that was the goal from day one it has pushed us to dive deep into understanding best practices and where we found friction is often tied to legacy workflows and behaviors that a PM or accounting centric platform allows that conflicts with the other. These conflicts is often where systems born on one side of the aisle or the other struggle to accommodate. We also saw the need to offer strategic integrations with great partners like Sage, PlanGrid, BIM360, Levelset, Docusign, QuickBooks online and more to come...

    A common example of a breakdown we looked to solve is the management of the subcontract agreements and progress billing, we see many companies investing a lot of time in reconciling subcontracts and subcontract change orders against progress billing because subs are allowed (through manual processes) to invoice you against work done that is not yet fully documented in the accounting side of the company or invoice against cost codes that are not part of the contract. So what we did is build a fully integrated workflows that lets the GCs review bids and issue commitments directly from the bid, once commitment is executed in the platform (they can use @docusign) they can then use TeamPlayer to invoice against what has been contracted only (their unique schedule of value) which is routed all within the platform. We also built tools to track liens and subcontractor specific documentation (insurance etc...). This approach has allowed us to maintain complete data integrity in a single environment.

    Like mentioned earlier no software is perfect, I only bring this up because what you described as your concern is exactly why Mike Wright built RedTeam (initially for his construction business) as he felt there wasn't a reasonably priced option offering a well rounded workflow for commercial GCs balancing project management needs with field to office collaboration, financial controls and document management in the market that fit his needs.

    ​​​

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    If you ever are exploring project management/ construction & document control for your company we would love to hear from you!
    Frederic Guitton
    Chief Strategy Officer - Redteam
    (407) 514-3831
    fguitton@redteam.com
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  • 8.  RE: Project Mgt- Accounting Software

    Posted 14 days ago
    We have been using Acumatica Construction Edition for three years now.  It has it all, Accounting, Project Management, Inventory, Payroll, CRM.  It was the best transition ever.  You should consider looking into this software.

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    Stella Carneiro
    Controller
    Pompano Beach FL
    (954) 957-9761
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