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Engineering Accounting Software


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Multiview Enterprise .NET n10 logo
 
With Multiview Enterprise, companies gain superior visibility over data, creating a more efficient organization while controlling costs. For engineering accounting, it is one of the most robust yet affordable solutions available.
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With Multiview Enterprise, companies gain superior visibility over data, creating a more efficient organization while controlling costs. For engineering accounting, it is one of the most robust yet affordable solutions available.
 
NetSuite logo
 
NetSuite’s accounting solution for the engineering industry can serve small to medium-sized firms. The system includes features to help with client communication and also supports project, equipment and materials tracking.
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NetSuite’s accounting solution for the engineering industry can serve small to medium-sized firms. The system includes features to help with client communication and also supports project, equipment and materials tracking.
 
Sage Live logo
 
Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a web-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
 
Sage 100 Standard and Advanced ERP (formerly Sage ERP MAS 90 and 200) logo
 
We think engineering firms will appreciate the extensive security and back-up functionality of Sage 100 Standard and Advanced ERP. Deliver core accounting functionality, with full suite of ERP applications. Ideal for small firms.
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We think engineering firms will appreciate the extensive security and back-up functionality of Sage 100 Standard and Advanced ERP. Deliver core accounting functionality, with full suite of ERP applications. Ideal for small firms.
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More

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Exact Macola logo
 
Exact Macola includes over 20 modules to assist with manufacturing, distribution and accounting, including PLM, AP/AR, MRP, MES and more. Additional EDI and e-commerce functionality is available from Exact.
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Exact Macola includes over 20 modules to assist with manufacturing, distribution and accounting, including PLM, AP/AR, MRP, MES and more. Additional EDI and e-commerce functionality is available from Exact.
 
Sage Fixed Assets logo
 
A great investment for a broad number of industries, Sage Fixed Asset, offers comprehensive, on-premise solution. Offering depreciation calculations, inventory tracking, and more, this is a great investment for engineering firms.
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A great investment for a broad number of industries, Sage Fixed Asset, offers comprehensive, on-premise solution. Offering depreciation calculations, inventory tracking, and more, this is a great investment for engineering firms.
 
Microsoft Dynamics AX logo
 
Microsoft Dynamics AX can serve a wide range of markets, including engineering. This ERP system does more than accounting, relying entirely on Microsoft’s .Net technology. Often installed on-premise, it can be hosted remotely.
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Microsoft Dynamics AX can serve a wide range of markets, including engineering. This ERP system does more than accounting, relying entirely on Microsoft’s .Net technology. Often installed on-premise, it can be hosted remotely.
 
Acumatica ERP logo
 
Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
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Acumatica ERP delivers adaptable cloud and mobile technology with a comprehensive user licensing model, enabling a complete, real time view of a business anytime and from any location. Through a worldwide network of partners, Acumatica... Read More
 
SAP Business One logo
 
SAP Business One helps companies that face intensive, high-risk projects requiring tight management to maintain their direction and budgets. There are add-ons that can perform job costing and production planning.
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SAP Business One helps companies that face intensive, high-risk projects requiring tight management to maintain their direction and budgets. There are add-ons that can perform job costing and production planning.

Call us for a free FastStart Consultation: +1 888 918 2748


 
FinancialForce Financial Management logo
 
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
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FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
 
Oracle JD Edwards logo
 
JD Edwards EnterpriseOne can support both large and small engineering firms with their accounting package. The system is an integrated solution with project management, core accounting, fixed asset accounting and more.
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JD Edwards EnterpriseOne can support both large and small engineering firms with their accounting package. The system is an integrated solution with project management, core accounting, fixed asset accounting and more.
 
Xledger logo
 
Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
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Xledger is an automated and scalable cloud-based accounting/ERP solution for medium- to large sized companies and is designed to provide insight and analytics for decision-makers. The system is an out-of-box solution that is configurable... Read More
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
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Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
 
Sage 300 Construction and Real Estate (formerly Sage Timberline Office) logo
 
Five-star rated Sage 300 Construction and Real Estate supports financial operations for organizations with $6 million or more in revenue and from two to 101+ users. It handles project accounting, billing, invoicing and more.
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Five-star rated Sage 300 Construction and Real Estate supports financial operations for organizations with $6 million or more in revenue and from two to 101+ users. It handles project accounting, billing, invoicing and more.

Call us for a free FastStart Consultation: +1 888 918 2748


 
Sage 300 ERP (formerly Sage ERP Accpac) logo
 
Offering scalable functionality, Sage 300 ERP is an enterprise resource planning (ERP) software system that can grow to meet your accounting needs. It's available as a hosted solution, or can be installed on site.
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Offering scalable functionality, Sage 300 ERP is an enterprise resource planning (ERP) software system that can grow to meet your accounting needs. It's available as a hosted solution, or can be installed on site.
 
Microsoft Dynamics GP logo
 
Engineering firms will find Microsoft Dynamics GP offers more than core accounting functionality. The system can track inventory and analyze key performance areas throughout the organization.
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Engineering firms will find Microsoft Dynamics GP offers more than core accounting functionality. The system can track inventory and analyze key performance areas throughout the organization.
 
Infor SunSystems logo
 
Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
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Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
 
Microsoft Dynamics SL logo
 
Microsoft Dynamics SL is an enterprise resource planning (ERP) system designed for project-based small and medium-sized businesses. The solution offers industry-specific capabilities for professional services, government contractors,... Read More
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Microsoft Dynamics SL is an enterprise resource planning (ERP) system designed for project-based small and medium-sized businesses. The solution offers industry-specific capabilities for professional services, government contractors,... Read More
 
BillQuick - Integrated Accounting and Project Management logo
 
BillQuick is an accounting and project management solution designed with engineers in mind. Easily integrating with existing accounting programs, it also tracks sub consultants, budge comparisons, project phases, and more.
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BillQuick is an accounting and project management solution designed with engineers in mind. Easily integrating with existing accounting programs, it also tracks sub consultants, budge comparisons, project phases, and more.
 

Buyer's Guide

by Eileen O'Loughlin,
Market Research Associate
Last Updated: April 22, 2017


It can be daunting to try to find the right software for an engineering firm. Whether you’re a first-time buyer or you’re replacing a current system, there are a variety of factors to take into account. Between cost calculations, functionality evaluations and deployment considerations, it could take longer than you originally expected to narrow down your software options into a manageable shortlist.

Luckily, we’re here to help you save time as you choose a solution that meets and exceeds the whole company’s needs. Those needs may include time tracking, job costing, billing and project management in addition to core accounting modules. It’s possible to find one specialized system that performs all these functions.

In this guide, we’ll show you how engineering accounting software vendors are optimizing the workflows of businesses like yours. You’ll also learn all the different ways software can be implemented. This knowledge can empower you to make the best decision for your team.

Here's what we'll cover:

What Is Engineering Accounting Software?
Common Features of Engineering Accounting Software
Benefits of Engineering Accounting Software
Evaluating Engineering Accounting Software
Deployment Options

What Is Engineering Accounting Software?

Engineering firms will need project-based accounting software, often with time-recording and billing functions to track billable hours and create the corresponding invoices. Job costing functions to track labor, equipment use, subcontractor usage and materials are also helpful.

Invoices generated by systems in this category should be composed in a readable fashion for the client. These systems should also break down expenses by service provided, performer of service, location, equipment and materials. Implemented correctly, this allows for the optimal accounting and billing efficiency.

Engineering accounting software should be able to serve any sector in this industry, such as:

  • Power
  • Telecommunications
  • Petrochemical
  • Renewable energy
  • Utility
  • Transportation

Common Features of Engineering Accounting Software

Engineering accounting software typically includes industry-specific features in addition to the basic accounting functionalities all businesses need to succeed. Here are some examples:

Core accounting These are the main modules needed to manage financial operations, including the general ledger, payroll, accounts receivable and accounts payable.
Project management Engineering software’s project management capabilities allow the user to automate scheduling, allocate resources, build accurate project budgets and manage staff time effectively.
Time & resource billing The system should be able to meet the different billing needs of an engineering firm, billing by hour or by project and tracking employee time. It should also let you track your billable and non-billable resources to maximize cost recovery.
Engineering inventory modules An engineering accounting solution will contain straightforward categorized line items—including pictures—for each of the thousands of different kinds of products and materials used. This way only the correct item will be purchased and/or billed.
Client communication Effective customer relationship management can help you attract new business and strengthen existing relationships. This includes automating client and contact management and tracking leads, marketing campaigns, contacts and sales all using the same system.
Comprehensive audit trail This describes the ability to track any item from opportunity through usage/completion, providing a complete account that can be drilled down for more detail.
Data visualization Many systems allow users to view financial or operational information through visual tools, such as graphs and charts. The data can be customized and is usually presented in a dashboard interface.

Benefits of Engineering Accounting Software

Professionals can realize multiple benefits as a result of adopting engineering accounting software, such as:

Greater inter-company coordination. This benefit is especially valuable to engineering firms that have multiple locations or that employ staff who regularly work off the company premises. Having one unified software system that is easily accessible to everyone means data can be entered and analyzed simultaneously in different departments. Nowadays, many software solutions offer native mobile device applications to give clients even more accessibility on the go.

Easier compliance reporting. When contracting with government agencies, such as the Department of Transportation or the Department of Defense, it’s very important to ensure every project meets a particular set of regulations. Software can simplify regulatory compliance by providing robust reporting tools that can show time and expense tracking by employee, transaction histories and more.

More transparency. Software users are able to view costs and expenditures in a clear and concise way, which enables business leaders to make informed decisions more quickly. Accounting systems for engineers integrate line items for products and materials used, so you get a more comprehensive view of how resources are being used.

Increased productivity. When a system is designed in an intuitive and user-friendly manner, it helps employees zero in on the exact information they need. This eliminates the need for duplicate data entry. It also allows staff to spend more time focusing on improving the business and less time hunting down spreadsheets or project status updates.

Evaluating Engineering Accounting Software

As with many other service providers, this software benefits from the option to categorize certain expenses in customizable ways, such as billable or non-billable. Engineering firms can also benefit from features that streamline communication to employees and customers to prevent confusion following changes made to a project.

When evaluating these systems, buyers should consider the following:

  • Does it fit the billing strategy (usually billable hours)?
  • Can criteria such as materials and equipment be tracked and stored by the software?
  • Does it include the data necessary for your specialty?
  • Can it assist in producing documents that ensure client comprehension?
  • Does it fit a project-by-project accounting scheme?

Deployment Options

One of the most important decisions engineering software buyers must make is whether to buy a cloud-based or an on-premise system. Cloud software is typically hosted remotely on the vendor’s servers while on-premise solutions are maintained on your company’s own servers.

Cloud-based systems are becoming increasingly popular in the market, largely due to the following benefits:

  • Remote access
  • Lower upfront costs
  • Vendor takes care of software updates
  • Vendor takes care of system maintenance

That said, some engineering firms already have the IT resources necessary to host an on-premise solution and they enjoy the increased control it provides them over the SQL database.

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