8 Best construction invoicing software platforms: How estimate and invoice software improves pricing accuracy

Punching calculators to get the correct estimates for your invoice is something you shouldn’t be doing today.

It is error-prone and time-consuming for massive construction projects.

To eliminate the tedious chore of manually creating estimates and invoices, get a construction estimate and invoice software.

In this article, we’ll discuss the features of invoicing software and how they help users get accurate estimates and timely click-to-pay invoices.

Key takeaways

• Construction estimate and invoice software helps you sort your numbers and deliver accurate quotes, bills, and invoices for projects.

• Contractors, builders, architects, owners, and engineers can use tracking software to estimate construction project costs.

• With proper project planning, you can get accurate estimates that factor in future price changes and market trends in the construction industry.

What is construction estimate and invoice software?

Construction cost management software is any solution that allows contractors to calculate project costs and add them to invoices.

Such software solutions cut across different roles, departments, and project types in the construction industry.

According to Keith Rabkin, the chief revenue officer at PandaDoc, “Our clients work in the construction industry, including general contractors, small construction companies, subcontractors, home builders, and enterprise construction businesses.”

This points to the diverse applicability of the advanced features of the PandaDoc invoicing solution across the entire project life cycle.

Key features/benefits of construction invoicing software

After a careful evaluation of the top invoicing software in the construction industry and consultation with our experts, here are the essential invoicing features.

• Document manager: This cloud-based repository automatically generates invoice documents based on the estimates generated. It also supports the creation of different document formats, such as PDF, Word, XLS, etc.

• Cost estimator: This feature uses multiple variables, such as current pricing, discounts, bulk deals, and inflation, to estimate the cost of any construction asset.

• Pricing configurator: The invoicing software should be able to create detailed pricing tables containing equipment and material costs automatically with a few clicks.

• Inventory solution: This functionality helps admins and managers obtain prices automatically without having to punch everything in manually.

• Multi-user access: Different users with the proper authorization should be able to add or remove items from the cost estimator and make changes to the project's financial invoices.

• Financial reporting: The platform should provide detailed analytics dashboards and reporting mechanisms for tracking the cash flow, available funds, payment reminders, and purchase orders.

• Mobile accessibility: Stakeholders should be able to generate invoices using a mobile app on iOS or Android without breaking stride.

• Payment and CRM integration: Connecting to CRMs, ERPs, and payment gateways will make it easier to obtain metrics and encourage clients to pay faster. You can also automate payment processing and bookkeeping.

In general, invoice management is integral to monitoring how the project progresses administratively and financially. It also secures your bottom line.

See also

16 best invoicing software options to facilitate your payment process

8 of the best construction invoicing software

A careful exploration of the top invoicing software has provided us with clear ranking criteria.

We considered ease of use, available features, accuracy, user reviews, integrations, pricing, and compliance.

Procore

Procore is one of the best construction invoicing software because it centralizes project management, accounting, and analytics under one user-friendly suite.

Companies like Honeywell and a million others across all 7 continents have used Procore for their construction projects.

Procore features

With Procore’s Estimating feature, you can quickly and accurately perform quantity takeoffs, estimates, and proposals according to industry standards and with the help of AI Auto-Count.

The Invoice Management feature allows contractors and suppliers to generate BOQs (bills of quantities), create and track invoices, and speed up billing turnaround.

Also, the Workforce module focuses on project planning, time tracking, and field productivity.

Procore pros

• Provides a comprehensive set of features for construction projects

• Can handle multiple projects and subcontracts at the same time.

• Has excellent support and demo materials

• Has a dedicated mobile app

Procore cons

• Might be too expensive for independent contractors

• Features can be difficult to set up and use

• The estimation feature requires manual configuration.

Procore pricing

Procore is priced according to your company size and the project domain. To find out how much it costs, request a quote from the sales team.

PandaDoc

PandaDoc is a document management system that makes it possible for construction companies and contractors to automate, store, customize, edit, and share invoices with clients.

It also supports fast document generation and customization, thanks to a vast library of construction and invoice templates.

PandaDoc features

The editing interface provides smooth navigation and multiple customization and branding features for your bills, quotes, and invoices.

You can elevate your construction company’s approval workflow by using the product catalog with PandaDoc document automation software.

This combination speeds up quote generation and invoicing processes, making it easier to add conditions and manage proposals, contracts, renewals, and invoices.

To monitor user activity on any accounting or construction documentation, check the audit trail and version history.

You can also use the PandaDoc invoicing app on iOS and Android smartphones to create invoices and accept online payments on the go.

PandaDoc pros

• Simple interface

• Automates workflow and tracking

• Has an intuitive mobile app on iOS and Android

• Provides multiple templates for invoices, quotes, bills, and more

• Supports integrations with CRMs, payment gateways, and other applications

PandaDoc cons

• Has limited features for construction management

• Cannot generate technical drawings and designs

• Doesn’t support mass editing

PandaDoc pricing

• Essentials — $19 per month for 2 seats ($35 paid monthly)

• Business — $49 per month for 2 seats ($65 paid monthly)

• Enterprise — custom pricing

Xero

Xero is a cloud-based cost management solution that helps small businesses and construction companies evaluate projects and generate financial documents.

With this solution, you can generate accurate price estimates for single items, assemblies, and takeoffs.

Xero features

Xero comes with an accounting dashboard for monitoring expenses, payments, and renewals.

Users can also track analytics on this dashboard for data-based construction project management.

The Inventory feature also auto-fills bills, orders, and invoices with assets from the warehouse while keeping stock levels updated.

In addition, the online invoicing feature automates reminders and payments from any device.

Contractors with global clients can also use it to generate multi-currency quotes and invoices.

Xero pros

• Cheap option for solely accounting

• Supports real-time bank synchronization

• Supports onboarding of multiple users

• Enables collaboration with accountants

Xero cons

• Doesn’t support project management

• Complicated accounting features for contractors

Xero pricing

• Starter — $29

• Standard — $46

• Premium — $62

Methvin

Methvin is an Agile project management solution used by contractors, engineers, and home builders for cost estimation, invoicing, and procurement.

It can also be used for takeoff to get the correct price estimate for each project bid.

Methvin features

Estimating solutions include the takeoff tool, production rates, etc., which allow users to control cost estimation using granular variables and mathematical functions.

The Tendering portal supports publishing, discovering, storing, and comparing tenders.

You can also use it to compare tenders and dynamically price projects.

The native Gantt scheduler and D&C portal are also useful for documentation and project coordination.

Methvin pros

• Cheaper than Procore and Buildertrend

• Easy-to-use interface

• Provides collaboration features

Methvin cons

• Has no mobile app

• Has frequent performance and connectivity issues

• Doesn’t work offline

Methvin pricing

• Free

• Business — $27/month

• Enterprise — $179/month

Buildertrend

Buildertrend is a construction management software that handles every stage of construction via a screen.

Users can also rely on Buildertrend for scheduling, time tracking, material management, and other core roles and verticals.

Buildertrend features

With Estimates, contractors can get error-free construction budget estimates to maintain profitability.

The Invoices feature allows you to integrate accounts and payment terms into bills.

The Bids feature allows contractors and builders to create accurate bids and estimates for bids. Figures from the bid are synthesized using the Budget and Financing features.

The Payments software smooths the curve for requesting, authorizing, and accepting payments into a convenient and secure Wallet widget.

To reduce the time spent commuting to job sites and manually creating invoices, download the Buildertrend app from the Play Store or App Store.

Buildertrend pros

• Provides invoicing and estimation features for residential projects

• More affordable than Procore

• Has a responsive mobile app

Buildertrend cons

• Might not be the best fit for commercial real estate construction

• Can be difficult to learn and implement

Buildertrend pricing

Buildertrend gives you $300 off for your first month. The available plans are:

• Essential — $199/first month ($499/month billed annually)

• Advanced — $499/first month ($799/month billed annually)

• Complete — $799/first month ($1099/month billed annually)

QuickBooks

QuickBooks is an intuitive accounting software used by contractors and construction companies to obtain real-time data in order to generate accurate estimates and invoices.

General contractors, builders, architects, project managers, and engineers use Sage for pre-construction and pro-construction cost estimation.

QuickBooks features

QuickBooks automation can track invoice completion and send automated reminders to ensure nothing falls through the cracks. It can also be used to track expenses.

The solution also supports multi-currency payments as well as bank feed integration and VAT tracking. You can also use it to store receipts and documentation.

QuickBooks can also handle payment workflows, inventory management, and financial data migration.

QuickBooks pros

• Easy-to-use software

• Handles taxes alongside expenses

• Affordable for small contractors and subcontractors

QuickBooks cons

• Lacks construction-specific features

• Limits file size and number of users

• Frequent performance for large projects

QuickBooks pricing

• Simple Start — $97.20 per year

• Essentials — $145.80 per year

• Plus — $205.20 per year

• Advanced — $820 per year

Clear Estimates

As the name suggests, Clear Estimates is a cloud-based platform for determining construction costs, managing users, and storing construction documentation.

With over 160 templates, users can get access to 15000+ line items from 400 areas in the US.

You can also use Clear Estimates for job costing and crafting professional quotes for private and government contracts.

Clear Estimates features

Clear Estimates provides advanced features for a wide range of projects, from residential to commercial construction works.

This solution uses Zapier integration to connect with Buildertrend, as well as other CRMs and applications.

Using Clear Estimates Pro, accountants, builders, supervisors, inspectors, and quantity surveyors can collaborate on the same project simultaneously.

Real estate agents can create remodeling estimates using a dedicated feature called Snaptimate.

Clear Estimates pros

• Fits like a glove for small jobs and remodeling

• Easy to customize and generate quotes

Clear Estimates cons

• Falls short of expectations for larger projects

• User filtering is lacking

• No mobile version is available

Clear Estimates pricing

• Standard — $79 per month ($59/month billed annually)

• Standard — $119 per month ($99/month billed annually)

• Standard — $249 per month ($199/month billed annually)

HCSS

HCSS allows you to use multiple estimators at once as well as import data from CRMs and other third-party databases and account management solutions.

You can also use HCSS management tools to track projects and customize proposals to the accurate format from Primavera and Microsoft Project.

HCSS features

The job costing feature helps contractors estimate the real-time and projected costs of projects with access to billing data, change orders, and payroll data.

With automated reports, you can share relevant metrics with clients and other members of the construction team.

HeavyJob is time and materials billing software that combines time tracking data with work hour reports to estimate labor and materials costs.

HeavyBid allows the use of multiple project cost estimators to cover all your angles while preventing double entry.

It also extracts external takeoff data to generate accurate estimates.

HCSS pros

• Excellent customer support

• Automated tracking and cost estimation

• Estimators are easy to set up and use

• Integrates well with accounting systems

HCSS cons

• Quite expensive

• No built-in document repository

• Steep learning curve

HCSS pricing

HCSS pricing quotes are tailored to business priorities, project urgency, and specific requirements.

See also

9 Best CPQ software systems: Find the best option for your business needs

How to estimate construction contracts for invoicing

“The main concern of customers using invoicing software is better accuracy, more closed deals, and company legitimacy,” said Keith Rabkin.

He also added that customers want to reduce manual errors and spend less on document storage.

With that in mind, let’s explore a sample scenario where a contractor used PandaDoc to generate an invoice for a residential construction project.

First, the estimate could be a response to a request for quote (RFQ).

In such a case, start with a professional quote template that can be fully customized, or open a blank quote in the editor.

Then, drag and drop a pricing table onto the canvas to embed it into the invoice.

Import items from a pre-configured catalog in your library.

Once loaded in, all you need is to add the budgeted costs, images, and descriptions for every task.

Note

If you want to declare only a handful of items or tasks (roofing, plastering, clean-up, scaffolding), enter them manually.

Then, go to the extensions and embed any payment method in the document.

Acceptable payment options include QuickBooks, PayPal, Stripe, Square, credit cards, etc.

Branded quote templates lend a hand while saving time. If working from scratch, be sure to give that feel of legitimacy and add custom logos, signatures, stamps, and initials to the document — and then save it to your content library for future use!

Once done, tag everyone on the project team, including the managers, business owners, subcontractors, and other signatories.

They’ll receive email notifications to work on assigned fields in the document.

And voilà! The invoice for the residential construction is ready with professional estimates.

Get accurate quotations with construction estimating software

Using a document management solution to generate professional-looking invoices for construction projects will decrease the amount of calculation needed.

This will also boost the accuracy of figures, thanks to dynamic pricing algorithms.

With a solution like PandaDoc, you get a document management solution with several templates for quotes and invoices.