Everyone does this differently. Some use Yardi, some Newstar, some excel. Some even use a combo of a hard cost tracking software (I.e. Procore or Aconex) in combination with something to track soft costs (I.e. simple spreadsheet, Wrike, ect…). What do you guys use and why?
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Depends, because it’s so simple to use Textura or Procore and roll that up through something like proliance (out of service now adays but there are similar tools from Oracle and other larger players) so that you can track every single cost code, every contract and change order, plus spend to date and to be let. But things like cost reports and pay apps are through contracting systems and just PDF into a signature form. You don’t necessarily need excel unless you’re tracking con costs with other cost line items like design/development/legal etc… if you’re just simply tracking in excel you will absolutely drown in Bull shit and revised excels that’ll act like a game of telephone…. Data dumping your GL and creating your own budget tracking is another way but it’s super tedious
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