Choosing finance, payments & back office software

Questions to ask on every demo

• Does it handle construction-specific needs: job costing, retainage, progress billing, lien waivers?
• Which accounting systems does it connect to, and is the sync two-way?
• What does it cost per payment or per transaction, and who pays: me or my customer?
• How quickly does money reach my account?
• If it offers financing, who is the lender, and what do my customers see?

What to watch for

• Payment and financing products have fees that sit outside the software price. Get the full fee schedule in writing.
• Talk to your bookkeeper or accountant before changing systems mid-year.

If you are a small firm

Confirm the tool connects to the accounting system your bookkeeper already uses; switching accounting software is a much bigger project than adding a tool.

Terms you will hear

Certified payroll

A weekly payroll report, required on many public projects, that shows each worker’s classification, hours and pay to demonstrate compliance with prevailing wage rules.

Change order

A written change to the contract scope, price or schedule that both parties agree to after the work has been awarded.

Job costing

Tracking the actual labor, material and other costs of each job against its budget, so you know whether the job made money.

Lien waiver

A document in which a contractor, subcontractor or supplier gives up the right to file a mechanic’s lien for the amount paid. Often required with each payment. Rules vary by state.

Pay application

A contractor’s periodic request for payment, usually showing the value of work completed to date against the contract. The AIA G702 and G703 forms are common examples.

Prevailing wage

A minimum wage rate set by a government authority for specified trades on public work. Contractors must pay at least that rate and often report it.

Retainage

A percentage of each payment withheld until the work is complete, held as security that the contractor will finish it.

Schedule of values

A breakdown of the contract price into line items, used as the basis for pay applications.

Full glossary →

The 13 tools in this category

Alphabetical. Tick “Compare” on the category page to put up to four side by side.

Acorn Finance Lending marketplace through which contractors can share a financing link so homeowners can compare loan offers for home improvement projects. Free Free plan Adaptive AI Project-level accounting platform for construction handling job costing, payables, billing, WIP, forecasting, change orders and compliance, exporting reviewed figures to the existing general ledger. Quote on request Agave AI Financial operations layer for contractors that syncs project management and ERP systems and automates invoice processing, expense coding and vendor compliance on top of the existing ERP. Quote on request Billd Construction financing for subcontractors, including paying suppliers upfront for materials on extended terms, advances on approved pay applications and revolving working capital. Quote on request Earlytrade Early-payment platform where subcontractors can request early payment on invoices and general contractors fund those payments at an auction-set discount, invoice by invoice. Quote on request Foundation Software Construction accounting software combining job costing, payroll, invoicing, vendor payments and financial reporting, with a mobile time-tracking app. Quote on request Handle AI Software for construction credit teams covering lien and notice management, waiver processing, online payments, job sheets and deadline tracking. Quote on request Hearth AI Contractor software for quotes, contracts, invoices, payments and customer financing, aimed at residential home improvement businesses. Quote on request Knowify AI Project and service management software for trade contractors that combines estimates, job management, invoicing, job costing and a QuickBooks integration. Starting price listed Free trial Miter Workforce and back-office platform for construction firms combining payroll, HR, expenses, time tracking, scheduling, daily reports, job costing and compliance such as certified payroll. Quote on request Siteline AI Billing and receivables software for commercial subcontractors that prepares and submits pay applications, manages lien waivers and compliance documents, and tracks collections and forecasts. Quote on request Trayd Payroll and compliance software for trade contractors covering certified, union and prevailing-wage payroll, labor tracking, HR onboarding, job costing and accounting. Quote on request Wisetack Customer financing for home service businesses, letting customers pay for jobs in monthly installments through a text or link sent on an invoice. Quote on request