Best Accounting Software for Contracting Companies

Contracting accounting differs from others, as it requires an accountant specialized in contracting activities as well as accounting systems flexible enough to accommodate principles specific only to the contracting field. In this article, we present five programs suitable for managing the financial and accounting aspects of contracting activities, along with the prices and features of each to facilitate the selection process.  
 

1- Daftra Accounting Software for Contracting Work

The Daftra cloud system is an integrated program that supports the contracting sector, starting from creating extracts including work guarantee deductions, to pre-configuring the chart of accounts in a way that suits the workflow in this field, with the flexibility to modify the guide or add more accounts to it. 

Daftra accounting software services are not limited to providing what is necessary for managing the accounting side of operational contracting work only, but extend to include comprehensive business management, such as purchasing management, human resources management, sales, inventory, and customer management.
 

Key Features of Daftra for Contracting:
 

1- Contracting Company Project Management

The Daftra accounting system provides contracting company management software specifically designed to manage contracting accounting and activities for different companies. It aims to provide the tools and mechanisms required to achieve the purposes of this sector, saving time and effort required when dealing with a general accounting system that doesn't differentiate between the needs of each sector.  
 

2- Suitable for All Sizes and Needs of Contracting Companies

Daftra's contracting company management software suits all sizes and types of contracting work, whether small or large, by providing packages with diverse advantages and competitive prices, each targeting a category of companies according to the size and nature of workflow. This positions Daftra to continue strongly with you as you expand.  
 

3- Automated Completion of All Tasks Related to Contracting Work

Through Daftra's contracting management software, you can add contracting projects and their budgets and manage project costs and steps effectively. The following are the most prominent tasks that make Daftra contracting software one of the most important accounting programs for contracting companies:  
 

• Issuing and preparing contracting extracts
• Calculating building and construction contracting work guarantee deductions
• Automatic calculation of labor costs and wages specifically for each contracting project
• Tracking inventory levels and managing inventory reconciliations for all resources and tools used in contracting work, such as raw material inventory like wood, iron, cement, bricks, equipment and tools inventory, and administrative supplies inventory for contracting work, such as engineering boards and other office supplies
• Tracking the work of engineers and employees in charge of contracting projects through Daftra's employee management program

3- Integration and Connectivity Between Contracting Software and Other Systems

The integration and connectivity feature in Daftra's company contracting accounting software is considered one of the most important advantages the system offers. This integration appears through connecting Daftra's contracting program with the purchasing program, customer management program, inventory management program, and human resources management program, making the Daftra system a comprehensive ERP program. The integration and connectivity in the Daftra system contribute to obtaining comprehensive and clear reports for all operational, administrative, financial, and human aspects of contracting work, contributing to making informed decisions that improve work efficiency.  
 

Daftra Pricing

2- QuickBooks

About QuickBooks

QuickBooks is considered one of the oldest accounting systems available in the market, which gives it a competitive advantage over other business solutions offered, especially newer ones. However, QuickBooks does not serve all aspects of company work as the system focuses more on providing accounting and sales services. QuickBooks is also not specifically targeted at contracting companies, but serves different sectors globally in more than 13 languages!  
 

QuickBooks Features

• Through QuickBooks, you can manage assets and different product categories, calculate taxes on invoices, and create tax returns.
• You can easily and securely register employee data on QuickBooks, in addition to providing continuous backup copies of this data and other transactions stored in the system.
• You can benefit from the cloud point-of-sale program to create quick receipts for transactions that require this type of fast dealing.

QuickBooks Pricing

3- Bayan Soft

About Bayan Soft

Bayan Soft is considered one of the most famous accounting systems in Yemen. It specializes in some fields like restaurants and cafes, but the general system can be used to serve contracting activities in small companies. You can purchase what you need from the available programs from Bayan Soft, such as barcode sales screen, human resources management systems, or assembly materials service. Compared to other systems, Bayan Soft has competitive prices in exchange for not providing all the desired services from ERP enterprise resource planning systems. 
 

Bayan Soft Features

• Bayan Soft provides a branch service where you can add more than one branch and manage them together, performing some linking and synchronization operations between your different branches.
• Bayan Soft has a simple human resources management system that supports employee registration, payroll creation, and automation of the resulting accounting entries.
• They offer a cloud POS system that can be applied in one branch or multiple branches. This point may not benefit you much in the contracting field, where it depends more on projects, but it benefits you if you want to sell some products related to your commercial activity, such as building materials or equipment used during the process.
• If you are just starting out, Bayan Soft offers a mini version with simple pricing and simple features, which benefits entrepreneurs who want to issue electronic invoices without wasting a large amount of expenses.

Bayan Soft Pricing

4- Al-Badr Sales

About Al-Badr Sales

Al-Badr system is an invoicing, sales, and warehouse management program that serves many sectors but dedicates versions of the system for some of them, such as clothing and shoe stores, electrical tools stores, ceramics and sanitary tools showrooms. Its general version is suitable for serving contracting activities in a way that doesn't disrupt workflow. The Al-Badr system is considered one of the easy-to-use systems with promising future development, and one of the things that makes it a good choice is that its prices are economical.  
 

Al-Badr Sales Features

• Strong technical support with quick response to user requests.
• Specialized in providing strong sales, inventory, and accounting services, which is considered an advantage given its low prices, but negatively affects it if you want complete management for your company.
• They have a dedicated program for sales representatives.
• Your employees can follow up on tasks related to them on the system, as it supports multiple user access.

Al-Badr Sales Pricing

5- Foam

About Foam

Foam is considered one of the accounting systems widely used in Saudi Arabia and offers a simplified version to serve contracting activities. However, its prices are notably high compared to similar programs, some of which may surpass it despite the price reaching double and triple the subscription cost of these programs.

Foam has excellent customer service, a guide to explain the system, and continuous updates.

You may also be interested in: What is the best alternative to Foam software?  
 

Foam Features

• Foam offers 10 different invoice templates that you can make some modifications to, such as showing/hiding data and adding terms and conditions to the invoice template.
• Project account management.
• Cost center and asset management, chart of accounts, and creating journal entries.
• Monthly payroll processing.
• Employee permission management and distribution based on the tasks assigned to each employee.
• You can add unlimited products and categorize them to facilitate dealing with them.

Foam Pricing

Frequently Asked Questions

What are the advantages and disadvantages of accounting software for contracting companies?
 

Advantages of Accounting Software for Contracting Companies

• Customization and creation of financial reports that suit the needs of contracting companies
• Tracking costs associated with contracting projects, thus better managing budgets and resource allocation for contracting work
• Automation of many processes related to contracting work, such as creating invoices, extracts, and tracking payments
   

  Disadvantages of Contracting Company Accounting Software

• The cost of purchasing or subscribing to accounting software for contracting companies may be somewhat high, especially for companies with limited budgets.
• Difficulty integrating contracting accounting software with other systems used in the organization
• The complexity of the control panel for some contracting accounting software requires more expertise and training to be able to handle it.
• Inability of some contracting accounting software to provide the specialization and flexibility needed for some special requirements of contracting work

How do I choose the best accounting software for a contracting company?

Choosing the best accounting software for a contracting company depends on a set of factors:
 

• Meeting the required needs of the contracting company, such as providing price quotes, preparing performance and achievement reports for contracting projects, and managing inventory management
   
• Verifying the integration of contracting accounting software with other project management programs used
   
• Ability to customize contracting accounting software to suit the company's specific needs
   
• Ensuring the availability of technical support services to respond to any inquiries or problems related to contracting accounting software
   
• Compliance of contracting company accounting software with the requirements and regulations of government entities such as the Saudi Zakat and Income Authority and the Egyptian Tax Authority. Daftra contracting accounting system is classified as software approved by the aforementioned authorities.
  
   

In Conclusion We recommend that you take your time when choosing the accounting software for contracting activities. You should compare prices and services offered to you and communicate with customer service or sales for each system available to you to get a glimpse of the program's level and to verify what they can help you with.