Project Accounting Software

Project accounting software helps track relevant data for projects carried out by an organization. The systems can help pinpoint what makes a project profitable, how workflow can be improved and how costs can be minimized.

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The top products as rated by users. When reviewing a product, users are asked to asses the product’s overall quality, ease of use, features & functionality, customer support and value for money.

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Recommendations: Sorts listings by the number of recommendations our advisors have made over the past 30 days. Our advisors assess buyers’ needs for free and only recommend products that meet buyers’ needs. Vendors pay Software Advice for these referrals.
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Showing 1 - 20 of 147 products
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Showing 1 - 20 of 147 products

FINSYNC

FINSYNC provides multi-user cash flow management in the cloud to US-based small and medium-sized businesses. Businesses can upgrade from payments to invoicing, bill pay, payroll, project tracking, time tracking, expense<p>FINSYNC provides multi-user cash f...Read more

4.57 (7 reviews)

41 recommendations

NetSuite

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive r...Read more

37 recommendations

Multiview

Multiview Financials is the flagship ERP system developed, sold, implemented, and supported by Multiview Financial Software. Multiview is designed for organizations ranging in size from rapidly growing small businesses to large...Read more

4.40 (10 reviews)

33 recommendations

Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct&#39;s software solution is suitable for small to midsize accounting firms and can provide finan...Read more

25 recommendations

BQE Core - Integrated Accounting and Project Management

BQE Core is a cloud-based solution that offers integrated business accounting, project management, and business intelligence. It can support the operations of a variety of industries, including legal services, architecture firm...Read more

21 recommendations

AccuFund Accounting Suite

AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund&#39;s Accounting suite helps nonprofit organizations and government agencies report f...Read more

4.33 (43 reviews)

18 recommendations

Deltek Costpoint

Deltek Costpoint is an enterprise resource planning (ERP) and management solution designed to meet the requirements of midsize and large enterprise businesses. The solution primarily assists government contractors, professional...Read more

18 recommendations

Striven

Your cloud-based, all-in-one business management solution. Striven is ready for your business right out of the box. With fully integrated accounting, CRM, inventory, project management, human resources features, it&#39;s the only s...Read more

4.83 (18 reviews)

14 recommendations

Aplos

Aplos fund accounting is a cloud-based system designed specifically to serve the needs of churches and nonprofit organizations. Aplos fund accounting is available on a standalone basis or within an integrated suite with online ...Read more

13 recommendations

Sage 50cloud

Sage 50cloud (formerly Peachtree Software) is a comprehensive accounting solution for small business. It provides core functionality, such as A/R and A/P, customer management and financial reporting. Premium features, such as d...Read more

13 recommendations

Software pricing tips

Read our Project Accounting Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Blackbaud Financial Edge NXT

Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a...Read more

9 recommendations

Accurants

Accurants is a cloud-based accounting solution designed for small businesses and freelancers. Key features include modules for time tracking, project management, invoicing and expense tracking. Accurants allows users to...Read more

4.75 (12 reviews)

7 recommendations

24SevenOffice

24SevenOffice is a cloud-based Accounting and ERP system for small and mid-sized businesses. 24SevenOffice eliminates repetitive processes and greatly reduces the need to manually enter information. The system will also streaml...Read more

4.41 (29 reviews)

7 recommendations

Asset4000

Series4000 is an on-premise and cloud-based fixed asset accounting solution for small, mid-sized and large enterprises. It caters to commercial, education, government, healthcare and not for profit industries. Primary features ...Read more

4.55 (47 reviews)

6 recommendations

DENALI Business

Cougar Mountain Software’s Denali Business is an accounting solution with the ability to customize 10 integrated modules. It is for small to midsize businesses and can be deployed on premises or in the cloud. Key features...Read more

3.89 (60 reviews)

5 recommendations

Versa Cloud ERP

Every successful business eventually outgrows Excel spreadsheets and old software. If you are looking for new software that eliminates post-it notes, spreadsheets, and add-ons consider Versa Cloud ERP. Versa is modern a...Read more

4.75 (20 reviews)

4 recommendations

Xledger

Xledger is a cloud-based enterprise resource planning (ERP) solution that caters to midsize and large businesses that helps them to manage day-to-day operations by automating routines ranging from bank reconciliation to invoice...Read more

4.67 (6 reviews)

4 recommendations

Jedox

Jedox is a cloud-based Enterprise Performance Management software solution that delivers self-service budgeting, planning, and forecasting across finance, sales, HR, and other business functions. Companies of all sizes and indu...Read more

4 recommendations

Sage X3

Sage X3 is a powerful ERP software solution designed for medium-to-large national and global manufacturers, distributors, and after-sales providers and can establish a foundation for your digital transformation. Sage X3 comes w...Read more

4.27 (47 reviews)

4 recommendations

Oracle JD Edwards

<p>Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and maOracle JD Edwards Enterpri...Read more

4 recommendations

Popular Project Accounting Software Comparisons

Buyers Guide

Last Updated: March 06, 2021

The project accounting software market is extremely complex. With such a large number of vendors, products and vertical industries in the space, it can be overwhelming to look for the right solution without some guidance. Specific reporting capabilities, simultaneous project support and other optional functions also need to be considered. As the list of variables go on, the selection process only gets more difficult. We wrote this guide to help buyers with these questions.

Here’s what we’ll cover:

What Is Project Accounting Software?
What Type of Buyer Are You?
Benefits and Potential Issues
Market Trends to Understand
The Vendor Landscape

What Is Project Accounting Software?

Project accounting software helps track relevant data for projects carried out by an organization. The systems can help pinpoint what makes a project profitable, how workflow can be improved and how costs can be minimized. Several different industries have project-based work schedules. These include:

  • Law
  • Engineering
  • Software development
  • Advertising
  • Construction

Project accounting software ensures financial responsibility by comparing expenses to project budgets. If costs begin to exceed expectations, automatic alerts can help team members correct the error as soon as possible. Project accounting software can often be combined with other applications such as project billing software and project management software. The ideal project solution varies by industry or project size.

What Type of Buyer Are You?

Different organizations have different priorities and requirements in finding the right system. Here are the main categories of software buyers:

Enterprise buyer. These buyers work for organizations that have invested in or are considering an enterprise resource planning (ERP) suite. They value complete integration across all departments and units. They typically purchase projects from ERP software companies.

Industry-focused buyer. These buyers usually have specific billing methods in mind when they are considering software. For example, construction companies and consulting firms likely need to evaluate systems with different billing methods.

Small business buyer. Buyers from smaller organizations should make sure to limit their consideration to systems aimed at their size and workflow requirements.

Benefits and Potential Issues

A well-implemented system allows for better record keeping and insight. When users leverage these benefits effectively, organizations can realize increased profitability, lower costs and other advantages. Project accounting systems should yield:

Increased visibility. With the right system, the costs and budget of each project should be readily available. The system should provide information that makes it much easier to ensure that each project’s budget has not been exceeded.

Solid reporting capabilities. Clients want to know that projects have gone well, and have not been conducted wastefully. With a good reporting function, software can make client reporting far easier and effective.

Time tracking. To support billing processes, project-focused organizations need to track the amount of time they spend carrying out projects, so the right amount of billing can take place. Project accounting software can track hours to ensure that no time has been wasted, and that all due payment is tracked.

Scheduling. Projects cannot be successful if they are not correctly scheduled. With scheduling taking place in conjunction with billing and accounting, project accounting software eliminates scheduling mistakes and links expenses to particular moments in time.

Market Trends to Understand

Increased vertical specialization. Over time, project accounting software has become increasingly specialized on vertical industries, adding value according to unique workflow types. Systems are catering to the specific needs of engineering firms, law firms, nonprofits, construction companies and others. Make sure to keep this in mind when evaluating systems.

Globalization. As with many different enterprise resource planning (ERP) systems, it is often critical to support the demands of international business. This includes the ability to store information on multiple currency types and multiple different business entities.

Software as a Service (SaaS). SaaS is lowering costs and speeding up implementation for buyers by offering Web-based software hosted by the software company. Billing is structured as a monthly fee, rather than a large up-front investment; as a result, many more companies are able to afford system earlier.

Business intelligence. As business intelligence becomes a bigger part of business solutions across the board, it also affects project accounting software. With business intelligence programs, relevant data can be organized and analyzed more efficiently, helping users prioritize projects and structure their strategies accordingly. Keep an eye open for systems with cutting-edge BI tools.

The Vendor Landscape

The software vendor landscape is always changing. Different buyer types should examine groups of systems specific to their preferences and needs.

This type of buyer... Should evaluate these systems
Enterprise buyer Microsoft Dynamics AX, Epicor Financial Management, SAP
Industry-focused buyer Microsoft Dynamics NAV, Microsoft Dynamics SL, Sage Accpac, Sage MIP Fund Accounting, FastFund Nonprofit, Vertex Financial Manager, Deltek Vision, Lawson S3 Financial Management
Small business buyer Microsoft Dynamics SL, SAP Business One, Intacct Financials, Sage MAS 500, Sage Pro ERP, Sage MAS 90/200