What is construction accounting software?

Construction accounting software manages company finances around individual jobs. In addition to the general ledger, payables, and receivables, it tracks costs by job and cost code, records committed costs, handles progress billing and retainage, and produces job-level reports such as WIP schedules.

What is the difference between construction accounting software and general accounting software?

General accounting software tracks revenue and expenses for the company as a whole. Construction accounting software adds a job layer, so transactions are tied to a project and cost code. It also handles construction-specific processes such as retainage, progress billing, subcontractor compliance, and over and under billing analysis.

How does Acumatica track job costs and committed costs?

In Acumatica Construction Edition, costs from vendor bills, time entries, inventory issues, and other transactions post to a project, task, and cost code. Subcontracts and purchase orders are recorded as commitments, so open amounts appear in project reports alongside budget and actual costs before the vendor invoice arrives.

Does Acumatica support progress billing and retainage?

Yes. Acumatica Construction Edition supports progress billing, including AIA-style G702 and G703 reports for projects that require them. Where retainage applies, it tracks retainage receivable on customer billings and retainage payable on subcontractor and vendor bills, including retainage release.

ACUMATICA CONSTRUCTION ERP · ACCOUNTING

Construction Accounting Software

Connect Job Costs, Billing, Retainage, Cash Flow, and Financial Reporting

Acumatica Construction Edition brings job costing, commitments, progress billing, retainage, and the general ledger into one cloud ERP, so project activity and financial results stay connected.

Milestone configures Acumatica around your job structure, cost codes, billing rules, and reporting, so your finance team gets job-level numbers that reflect how your projects actually run.

Talk With Milestone

Explore Construction ERP

Construction Finance

What Construction Finance Needs to See

Construction finance teams need more than a general ledger. They need a clear view of each job, from costs and commitments to billing, retainage, and cash.

Job Costs & Commitments

See actual and committed costs by job and cost code, before vendor invoices arrive.

Billing & Retainage

Bill progress accurately and track retainage receivable and payable where required by the project.

WIP & Project Position

Understand where each job stands, including overbillings and underbillings.

Cash Flow & Profitability

Connect billings, collections, and payables to see cash and margin by job.

How It Connects

How Construction Accounting Connects

In Acumatica, each step feeds the next, so financial reporting reflects what is actually happening on your projects.

Project Activity

Budgets, change orders, field costs, and time

Job Costs & Commitments

Costs by job and cost code, plus subcontracts and POs

Billing & Retainage

Progress billing and retainage tied to the work

WIP & Cash Flow

Job position, over and under billing, and cash

General Ledger & Financial Reporting

Job results roll into the financial statements

Capabilities

Construction Accounting Capabilities

Job Cost Accounting

Track labor, materials, equipment, and subcontract costs by job and cost code so project costs post consistently to job reports and the general ledger.

Explore Construction Job Costing →

Progress Billing & Retainage

Create progress billings, including AIA-style applications for payment where applicable, and track retainage held and released for applicable jobs.

Committed Costs

Record subcontracts and purchase orders as commitments so open obligations show up in job cost reports before invoices arrive.

WIP & Revenue Recognition

Produce WIP reports that compare costs, billings, and configured revenue-recognition information to support month-end review and adjustments.

Accounts Payable & Subcontractors

Connect subcontractor invoices, commitments, payment approvals, compliance documents, and lien-waiver processes with project accounting and Accounts Payable.

Financial Reporting

Roll job results into financial statements and dashboards so finance and ownership see job and company performance together.

Construction Finance Setup

Construction Accounting Has to Match How Your Projects Are Structured

Project & Cost StructureBilling & RetainageWIP & ReportingFinancial Integration

Jobs, cost codes, commitments, billing rules, retainage, accounts, WIP, and reporting all depend on how Acumatica is set up. When that structure matches how your projects run, job costs, billing, and financial reports stay consistent.

Milestone works with your controller and project accounting team to design the job and cost code structure, billing and retainage rules, and WIP reporting, then maps them to your chart of accounts so project results flow cleanly into the general ledger.

Financial Visibility

What Finance and Ownership Can See

Acumatica puts job-level and company-level results in the same place, so leadership can review project performance without waiting on spreadsheets.

Budget vs. Actual

Compare original and revised budgets with actual costs by job and cost code.

Committed Costs

See open subcontract and purchase order amounts that will still hit each job.

Project Margin

Review job margin alongside billings, costs to date, and each job's WIP position.

Cash Position

Track billings, collections, retainage, and payables by job and across the company.

Why Acumatica

Why Acumatica for Construction Accounting

Project & Financial Data Together

Project management and accounting share one database, so job costs, billing, and the general ledger stay in sync.

Construction Billing & Retainage

Progress billing, AIA-style reports, retainage, and subcontractor compliance are included in Construction Edition.

Job-Level Financial Visibility

Dashboards and inquiries let users drill from company results down to individual jobs and cost codes.

Cloud ERP Across the Business

Finance, project, and field teams can work from the same connected cloud system as their roles require.

Why Milestone

Construction Finance Requires More Than Software

Milestone has been an Acumatica partner since 2015. We help contractors set up the project and financial structure their finance teams depend on, then stay involved after go-live.

Project & Financial Structure

How jobs, tasks, cost codes, accounts, and reporting are configured.

Billing, WIP & Controls

How billing, retainage, commitments, approvals, and WIP processes are set up.

Reporting, Training & Support

How finance teams get the reporting, training, and ongoing help they need.

30+

Years ERP Experience

10+

Years With Acumatica

GOLD

Acumatica Certified Partner