Contractors are used to organizing the complexities of the construction industry. From ordering materials for a project to moving tools between job sites and maintaining equipment, contractors have to keep track of a lot.

It's not surprising that contractors often cite inventory maintenance and feeling overwhelmed by multiple management systems as their biggest challenges. Separate systems make it hard to track tools across projects or see which equipment is at which job site, and manually tracking inventory takes time and diligence.

You might know you want a new system, but don't know how to choose inventory management software for construction projects. We'll show you how Intuit QuickBooks construction software is designed to track materials across job sites and make your job a little easier.

Table of Contents

• What makes inventory management software effective for construction
• Core features to look for in construction inventory management software
• How to choose the right inventory management system for your construction business
• Common mistakes when selecting inventory software for construction
• How Intuit QuickBooks supports construction inventory management
• Manage construction inventory with Intuit QuickBooks
• Frequently asked questions

What makes inventory management software effective for construction

An effective inventory management system for construction should accurately reflect what materials, tools, and equipment your company has at a moment's notice. It should also show you where inventory is located across storage and job sites and provide useful features, like:

• Multi-location tracking which lets you know exactly what inventory is on each job site without making multiple calls.
• Inventory alerts that notify you when stock is low and you need to reorder to prevent delays.
• Mobile accessibility that shows your inventory from anywhere.
• Tool and equipment tracking which makes it easier to monitor and schedule regular maintenance, so your equipment is in working order.

Core features to look for in construction inventory management software

Effective inventory management solutions are efficient and save you money. These systems give several benefits:

• Real-time tracking means you're not making decisions or moving inventory based on outdated information.
• Asset visibility lets you see what materials, tools, and equipment you have, which can prevent over- or under-ordering.
• Multi-location tracking gives you accurate inventory across multiple job sites.
• Reporting on inventory condition, use, and value helps you make informed decisions about your business.

Inventory tracking that integrates with vital systems

The best inventory management system for a construction company provides up-to-date information and integration with accounting systems. You should be able to see inventory locations, quantities, conditions, and usage in a centralized place while organizing materials by project or job type.

Integration with accounting means you can also see material costs in job costing without manually entering them. Not only does this save time, but it also reduces the likelihood of errors.

Being able to see inventory and accounting details in a single place helps you make ordering decisions that can affect a project's profitability. Having the supplies you need on hand can eliminate unnecessary purchases.

Reporting and inventory visibility

Software that tracks inventory is only useful if you can effortlessly find the information you need and if it's accurate up to the minute.

Construction companies must be able to quickly access dashboards that show real-time locations of tools and equipment. This way, they can track usage at sites, order materials when they get low, move major pieces of equipment, and effectively schedule field crews so there aren't lengthy delays.

How to choose the right inventory management system for your construction business

The right inventory management system for your construction business should meet all of your needs while giving your company the ability to scale up and grow.

To choose, match the software capability to your:

• Business size
• Number of job sites
• Complexity
• CRA compliance needs
• Needs in the field
• Existing construction apps and tools

Common mistakes when selecting inventory software for construction

According to Tenna, the cloud-based software company, contractors overwhelmingly continue to rely on manual systems, but these aren't the only mistakes they're making:

• Choosing a standalone tool without accounting integration means companies still have to enter costs manually, which leads to errors and extra admin work.
• Underestimating scalability, especially when taking on US projects, can make issues like the CAD/USD exchange rate challenging when importing raw materials.
• Relying on manual systems for inventory tracking makes it harder to recognize when seasonal or winterized equipment needs servicing.
• Using inventory tracking that doesn't integrate with accounting makes CRA compliance challenging when managing inventory across different provincial tax zones.

How Intuit QuickBooks supports construction inventory management

When choosing an inventory management system, you want one that checks many boxes. Intuit QuickBooks is part of a broader construction management system that allows you to integrate features you're already using. Plus, its customizable reporting means you can quickly find the data you need to make construction business decisions.

Effective inventory management techniques have:

• Financial tracking that provides accurate cost data so you can update project estimates and maintain profitability.
• Integration with other construction management tools like accounting and payroll that saves time, improves efficiency, and reduces mistakes.
• A centralized system so you're not spending valuable time looking through physical spreadsheets or logging into a handful of programs.

Manage construction inventory with Intuit QuickBooks

Think of Intuit QuickBooks as another tool you rely on. Not only can you track materials and equipment across job sites and provinces, but you can also integrate the software with accounting and management systems.

If your inventory system hasn't been up to the task, more effective inventory techniques can mean the difference between delays and finishing the job on time. Let Intuit QuickBooks inventory tracking software show you the difference a fully-integrated program can make.