Searching for the best engineering accounting software for your business?

Save yourself time and stress. We’re here to help you find the right engineering accounting software solution for your work.

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.

What 5 key Engineering Accounting Software features should I look for?

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.

Compare All Engineering Accounting Software

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Showing 1 - 20 of 108 products
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Showing 1 - 20 of 108 products

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is an enterprise resource planning software with primary features such as real estate management, human capital management, environmental health and safety and commodity trading. What is JD...Read more

4.13 (136 reviews)

3 recommendations

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Microsoft Dynamics AX

Microsoft Dynamics 365 provides integrated solutions that allow businesses to track leads, automate field service, drive sales and improve operations using mobile, enterprise-ready business apps from the cloud. What is Mi...Read more

3.78 (65 reviews)

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Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more

4.17 (312 reviews)

17 recommendations

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OASIS

OASIS by Intellitek is a full-featured ERP solution that is a great solution for overall Supply Chain Management. It features several important applications, such as Supplier Management, Procurement, and Transportation Management....Read more

3.43 (7 reviews)

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NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

No reviews yet

21 recommendations

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BizAutomation

BizAutomation is an ERP solution suitable for any industry. At the core of the system is intuitive and integrated functionality for Customer Relationship Management, and Financial Accounting. The system is delivered as a SaaS....Read more

4.88 (26 reviews)

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R4 Enterprise

Royal 4 Enterprise is an integrated enterprise resource planning (ERP) solution with built-in modules for distribution, manufacturing, planning, inventory management, reporting and company financials. It serves midsize to large en...Read more

4.50 (4 reviews)

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Multiview ERP

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 en...Read more

4.40 (10 reviews)

16 recommendations

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UNIT4 ERP

Successful nonprofit management depends on the ability to quickly adapt to change, both internally and externally. UNIT4 offers nonprofit organizations and NGOs a complete, fully integrated Enterprise Resource Planning (ERP) solu...Read more

3.83 (12 reviews)

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Unanet A/E

Focused on the needs of mid-sized A/E firms, Clearview InFocus is an affordable, complete project management, billing and accounting solution. With Clearview InFocus, all necessary features a centralized into a single system....Read more

4.40 (70 reviews)

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Software pricing tips

Read our Engineering 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

FinancialForce Accounting

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 appli...Read more

3.81 (44 reviews)

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Infor CloudSuite Financials

Infor CloudSuite Financials is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the cloud. It deliver...Read more

3.36 (7 reviews)

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NolaPro

We recommend NolaPro by Noguska, LLC to companies of all sizes looking for a system that's easily customizable, and offers a variety of key accounting features, including Reports, General Ledger, Payables Lists, and more. ...Read more

5.00 (3 reviews)

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Xledger

Xledger is a cloud ERP software that is scalable and user-friendly. Used by 6,000 companies, this integrated solution is great for companies seeking streamlined automation, business intelligence and the ability to track analytics....Read more

4.67 (6 reviews)

3 recommendations

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MultiLedger

First introduced in 1986, MultiLedger by CheckMark Inc provides a fully integrated, comprehensive suite of accounting software for small to mid-size businesses. It merges billing & invoicing, inventory management, job tracking, ex...Read more

1.00 (1 reviews)

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Access Financials

Our financial management software is rich in functionality, delivering a full suite of financial management modules and core and advanced functionality. More importantly, our solution automates many core accounting processes, maki...Read more

4.00 (1 reviews)

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Accounting Xpert

Accounting Xpert is an on-premise accounting solution that serves businesses of all sizes. Primary features of the software include a general ledger, accounts receivables and payables, payroll, W2 and 1099 laser processing, bank r...Read more

4.69 (36 reviews)

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Unanet

Available as both an on-premise or a hosted solution, Unanet Professional Services Automation and Project Portfolio Management is a comprehensive solution that allows companies to better plan and track people and projects....Read more

4.36 (55 reviews)

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AccountEdge

AccountEdge's banking tools allow users to send and receive money, prepare bank deposits and electronic payments, print checks and reconcile accounts. The system's purchase order feature allows users create and track purchase orde...Read more

4.37 (86 reviews)

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MineralTree Invoice-to-Pay

MineralTree’s TotalAP accounts payable automation solution digitizes and automates the entire invoice-to-pay process to make paying your suppliers easy, impactful, and profitable. Our cloud-based accounts payable solution can scal...Read more

4.37 (78 reviews)

3 recommendations

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Popular Engineering Accounting Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

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.