Best Alternatives to QuickBooks for Contractors
The guide provides you with the best available options for alternatives to QuickBooks for contractors, these software’s help the business owners to effectively manage their financial system with the features like accounting, invoicing. It also allows the business owners to have a well-designed tailored workflow that serves all their need. The given options are segregated on the basis of their features, benefits, and suitability.
Odoo
Odoo comes as the alternative to QuickBooks for contractors, as the software is extremely easy to use with a wide variety of features and modules that can easily solve the problem for various business needs. The software provides smooth integration across the numerous platform and modules.
The key features of the software are:
Customization, the odoo ERP provides an extensive range of customization that can cater to all your designing preferences in no time.
The another set of feature that the Odoo software provides is mobile accessibility which makes it easy for the business to communicate their ideas among the business network and also provides the user with effective tracking anytime.
Odoo works on solutions that can be easily scalable with the growing business and can change according to the new innovations.
Benefits
The odoo can be a prefect solution for the user who are searching for an affordable option with no compromise on the features, odoo community can be a great solution that support almost all the functions of the contractors Business at most ease.
Zoho Books
Zoho Books is one of the most talked about option in the list as it is a cloud-based accounting software that tackles the problem of a small space hence it is ideal for the small-scale business. The software provides the tools that work on managing finances, invoicing, and project tracking.
Taking about the Key Features the software includes:
CIS-Compliant Invoicing which is great way to create customized invoices that goes with the Construction Industry Scheme (CIS) regulations.
The software provides the real-Time Reporting that further helps the user to generate insightful reports and track the cash flow effectively.
Expense Tracking is another key feature that comes along with the software that monitors the expenses and maintains the budget control.
Zoho Books assures automated Payment Reminders to reduce the late payments and generate outstanding invoices.
Benefits
The prime benefit of using Zoho Books for the contractors is they get the solutions that are particularly made for them, with an easy-to-use interface and an effective financial management.
Ankpal
The next software on the list we have is Ankpal, which a software designed to work on the financial management of the construction industry. The software works on focusing the accounting process and its improvement with the cost tracking per project.
Key Features
The Inventory Management in the software tracks the materials and equipment as per the projects keeping the component like supply shortage in mind.
Generate custom detailed Financial reports that analyze the financial performance for making informed decisions.
Ankpal comes with extensive Integration Capabilities that works on various software’s that may be helpful in the construction management.
The user can Easily prepare GST files and returns with ensured tax regulations.
Benefits
Ankpal provides the user an accessibility to build construction-specific features, that further optimize their financial management processes, the integration capabilities of the software is another benefit that enchases the overall operational efficiency of the business.
Joist
Joist is a software that provides the business with advanced estimating invoicing process and works on various sectors and industry size.
The Key Features includes:
Instant Invoicing from device in seconds with the access to internet.
The software provides quick and direct payments through invoices.
Customer Management is another feature that stores a wide range of customer information that can be accessed anytime.
The software allows the direct attachment of important files, that stores the segregated data.
Benefits
The most useful advantage of the Joist software is its mobile-friendly solutions that are not only user- friendly but also works on managing the invoice creating.
Procore
Procore is the software that primarily works on the construction project management, with the easy financial management features that can be helpful for the beginners too.
Key Features
Budget Management helps the user to track their finances with each project level at a real-time.
Invoice Management helps the subcontractor to work on the invoice process within the platform.
Change Order Management is a project scope-based function that helps to streamline the cost of the business.
As communication plays an important role therefore the software provides collaborative tools that enhance the function between teams.
Benefits
The foremost benefit of using Procore is its ideology of working with the two powerful functions like project management and financial tools, that makes the software build a single platform and manage the team efficiency throughout projects.
FAQs
What is the importance of financial management for SMEs?
The Financial management is an important aspect when comes to any business size but plays a vital role in the small-scale industries as it helps them to plan, organize and monitor every aspect of the financial process. It also helps the business to achieve the objectives and ensure sustainable growth.
What are the common challenges that the contractor can face in raising finance?
KThe most Common challenges that the contractor may face are the limited access to credit, high-interest rates, lack of collateral requirements from financial institutions.
Which is the best alternative to QuickBooks for contractors?
Odoo can be served as one of the best alternative to QuickBooks for contractors in the available options.
How important is strategic planning for the growth of a contractors business?
The strategical planning refers to the structured way of planning also it plays a vital role in aligning the business objectives with available resources, it also gives the user a deeper understanding of growth opportunities, and the preparing of the adaptation to market changes.
Conclusion
As the final thoughts, QuickBooks despite being a popular choice among contractors, still lacks in various functionalities like cost effectiveness, integration, feature modulation, etc. hence there are users who are searching of its alternatives that works on the features like ease of use, extensive feature availability, smooth integration capabilities and overall an affordable option.
