Searching for the best project accounting software for your business?

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

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.

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Showing 1 - 20 of 156 products
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Showing 1 - 20 of 156 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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Dynamics 365 Business Central

Supporting specialized functionality for distribution, manufacturing, government, and other industries, Microsoft Dynamics NAV is a highly customizable system that benefits from numerous partner-developed vertical extensions....Read more

3.78 (99 reviews)

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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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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 include ...Read more

3.89 (60 reviews)

2 recommendations

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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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UNIT4 Financials

Unit4 Financials (formerly Coda Financials) is a cloud-based accounting and financial management solution for public sectors, real estate, education, professional service, financial services and wholesale providers. It includes ge...Read more

4.13 (8 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

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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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MIP Fund Accounting

Abila Fund Accounting 100 (formerly Sage MIP) is designed to meet the financial management needs of nonprofit organizations and associations. This is one of the most widely-used fund accounting solutions on the market. ...Read more

4.21 (65 reviews)

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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

Flexi Software

Flexi is an on-premise as well as a cloud-based accounting solution for the banking, insurance, healthcare and service industries. The Flexi accounting solution features automation of accounting process and completion of audit tra...Read more

4.40 (5 reviews)

1 recommendations

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AccuFund Accounting Suite

AccuFund is 100% focused on serving nonprofits and government entities. The complete fund accounting financial management solution, available online or onsite, consists of a strong core system and modules that allow you to expand ...Read more

4.32 (44 reviews)

9 recommendations

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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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Blue Skies Accounting

Blue Skies Accounting is an on-premise accounting solution. It caters to agricultural farms, ranches, labor contractors, nurseries, vineyards, general contractors, accountants and bookkeepers. Primary features include general ledg...Read more

4.83 (6 reviews)

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Blackbaud Financial Edge NXT

Blackbaud’s cloud fund accounting software Blackbaud Financial Edge NXT®️ provides transparency across teams, security, and compliance, and reduces the need for manual processes. The fund accounting software provides a general led...Read more

4.25 (156 reviews)

15 recommendations

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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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Asset4000

Asset4000 is an on-premise and cloud-based fixed asset accounting solution for small, mid-sized and large enterprises. Real Asset Management, the software vendor has now rebranded and is part of MRI Software and continues to prov...Read more

4.55 (47 reviews)

13 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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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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Popular Project Accounting Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

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