Why Choose Sage Intacct For Construction?

Accounting for construction companies is fraught with unique challenges that can make financial management a daunting task, especially for small to mid-sized businesses as they grow. Juggling multiple projects, each with its own budget, timeline, and subcontractors, can lead to a maze of financial data that's difficult to track and reconcile. Add to this the need for precise job costing, compliance with industry regulations, and timely reporting, and it's clear why traditional accounting software often falls short. These pain points demand a tailored solution that not only handles the complexities of construction accounting but also provides real-time insights and streamlined operations. Enter Sage Intacct Construction. 

Sage Intacct Construction is a cloud-based financial management and ERP system built for construction companies. Launched in 2020, the program has been designed specifically to address the many accounting challenges that construction businesses face every day, helping them gain better control over their finances and project outcomes. With 53 years of experience and over 50,000 construction companies served, Sage has established itself as a leader in construction technology, continually investing in innovative solutions to meet the evolving needs of construction businesses.

In 2023, Business-Software.com included Sage Intacct Construction in its Top 10 Construction Management Software Report for Sage’s ability to maximize project delivery with its native cloud accounting. Sage Intacct is also the only financial management software endorsed by the American Institute of Certified Public Accountants (AICPA) and is GAAP-compliant, making it far easier to follow regulatory requirements and remain HIPAA compliant—especially in the event of an audit. 

Key Benefits of Sage Intacct for Construction Accounting

Sage Intacct Construction's advantages are numerous due to the software's customizability and scalable architecture, so we've narrowed them down into these five core buckets:

1. Robust Financial Management
2. Enhanced Project Visibility
3. Streamlined Operations
4. Scalability and Flexibility
5. Integration Capabilities

#1: Robust Financial Management

Sage Intacct Construction offers a powerful suite of financial management tools tailored to the construction industry. These tools include:

Comprehensive Accounting Functions

Sage Intacct Construction provides a full range of accounting capabilities, including but not limited to accounts payable, accounts receivable, cash management, multi-entity insights, and general ledger. These functions handle the complex financial transactions typical of construction projects, ensuring accurate and timely financial reporting.

Job Costing and Project Accounting

One of Sage Intacct's standout features is its advanced Job Costing and Project Accounting capabilities. Construction projects often involve numerous cost break-down and revenue streams, making accurate tracking essential. Sage Intacct allows for detailed cost tracking by project, phase, Cost Code and Cost Type, providing real-time insights into project profitability and helping to control costs effectively.

Budgeting and Forecasting

Sage Intacct enables construction companies to plan and manage their finances more effectively. These tools support the creation of detailed budgets at the project and company levels and provide robust forecasting capabilities to anticipate future financial needs and opportunities.

Pre-Construction Estimates & Accounting

Sage Construction Management, offers a comprehensive suite of tools designed to optimize the pre-construction phase, enhancing project planning, budgeting, and bidding processes. This software enables construction companies to efficiently manage project estimates, ensuring accurate and competitive bids, while its robust budgeting tools help maintain financial control from the outset. By providing real-time visibility into project data and facilitating stakeholder collaboration, Sage Construction Management ensures that projects start on the right foot, reducing risks and improving overall project outcomes.

#2: Enhanced Project Visibility

Visibility into project performance is vital for construction companies and Sage Intacct offers several features that enhance project visibility, including:

Real-Time Dashboards and Reporting

Sage Intacct's real-time dashboards and customizable reporting tools provide construction managers with instant access to key project metrics, including information on project status, costs, revenue, and profitability. With up-to-date data at their fingertips, managers can make informed decisions quickly and efficiently.

Mobile Accessibility

Sage Intacct's cloud-based software ensures that project data is accessible from anywhere, at any time. This is particularly beneficial for construction managers who are often on-site and need to access information on the go. Mobile accessibility ensures that project updates and financial information are always within reach.

#3: Streamlined Operations

Sage Intacct helps construction companies streamline their operations through several key features:

Automated Workflows

Sage Intacct supports the automation of various workflows, reducing the need for manual intervention and minimizing the risk of errors. This includes automated billing, payment processing, and financial reporting, which can save time and improve accuracy. By automating AP/AR processes, Sage Intacct clients gain 20-40% in work efficiency, reduce average month-end close time by 25-50%, and increase time spent on analysis and business strategy by 25-75%.

Document Management

Effective document management is essential for construction projects, which often involve a significant amount of paperwork. Sage Intacct offers integrated document management capabilities, allowing users to store and retrieve important documents easily. This helps ensure that critical project information is always available and reduces the administrative burden on staff.

Multi-Entity Management

Sage Intacct is ideal for multi-entity compatibility, making it particularly beneficial for construction companies managing multiple ongoing projects. Its centralized financial management system allows comprehensive oversight of various entities from a single platform, simplifying the complexity of tracking finances across numerous projects. The ability to generate consolidated reports provides a complete view of overall financial performance, facilitating strategic decision-making. Automated intercompany transactions and multi-currency support also systematize financial operations, ensuring accuracy and compliance across different regions and projects. 

#4: Scalability and Flexibility

Construction companies vary widely in size and complexity, and their software needs frequently change as they grow. Sage Intacct is designed to be both scalable and flexible, making it suitable for companies of all sizes.

Cloud-Based, Scalable Architecture

Sage Intacct's cloud infrastructure allows businesses to easily add new users, projects, and entities without the need for significant IT overhead or disruptions. This scalable architecture ensures that as a company's operations expand, the software can handle increasing volumes of data and complexity, supporting growth without compromising performance.

Customizable Solutions

Sage Intacct offers a high degree of customization, allowing businesses to tailor the software to their specific needs, including custom workflows, reports, and dashboards. This adaptability means that construction firms can configure the system to match their unique processes and requirements. Moreover, being cloud-based, Sage Intacct offers anytime, anywhere access, which is essential for project managers and teams who are often on-site or working remotely. This flexibility enhances collaboration, real-time decision-making, and operational efficiency, making Sage Intacct an invaluable tool for modern construction companies looking to stay competitive and agile.

Unlimited Users

A core limitation of popular small to mid-sized accounting tools like QuickBooks, especially for scaling businesses, is their maximum user limit. As businesses expand, more team members will generally need access to its financial software, and the same goes for construction businesses with multiple ongoing projects. Sage Intacct does not have a limit for the total amount of users in your account, also allowing for simultaneous user access to the program. 

Ultimate Team Collaboration

Sage Intacct supports collaboration within the software, allowing teams to share access to documents, files, and reporting. This can help eliminate errors and create a single source of truth, which is a great boon for large accounting teams working together. 

#5: Integration Capabilities

Modern construction projects often require the use of multiple software systems, and the ability to integrate these systems is crucial for efficient operations. Sage Intacct excels in this area with its robust integration capabilities.

Seamless Integration with Other Systems

Sage Intacct easily integrates with many other software systems commonly used in the construction industry, including project management software, CRM systems, and payroll solutions. These integrations help streamline operations by ensuring that data flows smoothly between systems, reducing the need for manual data entry and minimizing the risk of errors.

API Support

For companies with more complex integration needs, Sage Intacct offers comprehensive API support. This allows for custom integrations with proprietary systems or other third-party applications, ensuring that all necessary data can be shared and accessed as needed. 

Is Sage Intacct Right For You?

In an industry where effective financial management and operational efficiency are critical to success, Sage Intacct is the premier solution for small to mid-sized construction companies. With its robust financial management capabilities, enhanced project visibility, streamlined operations, scalability, and strong integration capabilities, Sage Intacct provides the tools and support needed to manage construction projects effectively. Sage's half a century of experience in the industry, combined with their ongoing investment in construction technology, make Sage Intacct Construction the clear choice for construction companies that want to ensure they are well-positioned for future growth and success.

Get Started with Sage Intacct

For those interested in exploring Sage Intacct further, consider the following steps:

1. Visit the Sage Intacct Construction Website: Gain a deeper understanding of the software's features and benefits at Sage.com.
2. To Schedule a Demo: Contact: joe.fowler@bterrell.com. 
3. Read Customer Case Studies: Learn how other companies have successfully implemented Sage Intacct by reading case study at www.ledgerable.com.
4. Contact Ledgerable, a BTerrell company, your go-to Sage Partner: For non-CPAs and accounting experts, upgrading to and maximizing Sage Intacct's full capabilities can feel overwhelming—which is why we're here. Learn more about how we guide businesses through the technology, and feel free to schedule a time to chat with our team here.