Intuit Enterprise Suite Summer 2025 Updates: What Construction Companies Need to Know

Managing Construction Accounting requires specialized tools that can handle the complexity of job costing, WIP reporting, and multi-entity management. Intuit Enterprise Suite's (IES) Summer 2025 Release introduces significant updates designed to help construction companies scale their operations while maintaining financial control.

Featured Answer

(IES) Intuit Enterprise Suite's Summer 2025 update introduces AI agents for automated bookkeeping and project management, enhanced multi-entity financial tools, improved business intelligence with AI-powered insights, and advanced project budgeting features specifically valuable for construction companies managing complex job costing and financial reporting requirements.

Intuit Enterprise Suite Summer 2025 Updates Transform Construction Accounting

The construction industry faces unique financial management challenges that traditional accounting software often struggles to address. With project-based revenue recognition, complex job costing requirements, and multi-entity operations becoming the norm for growing contractors, the need for sophisticated yet user-friendly financial tools has never been greater ¹.

Intuit's latest Enterprise Suite update, released Summer 2025, addresses these challenges head-on with AI-powered automation, enhanced business intelligence, streamlined multi-entity operations, and comprehensive project management capabilities ¹. These updates represent a significant evolution in construction-specific accounting functionality, particularly for companies operating in the $5M-$250M revenue range.

TL;DR

• Four new AI agents automate bookkeeping, payment collection, financial analysis, and project management tasks ¹
• Business intelligence suite includes AI-powered insights, KPI scorecards, and 3-way financial planning
• Multi-entity management adds intercompany sales and shared chart of accounts capabilities
• Project tools now include deposits on estimates, employee cost calculators, and enriched budgeting ¹
• Platform performance improvements deliver 2x faster page loading and transaction processing

"RedHammer is one of Intuit's select implementation partners with certified expertise in Intuit Enterprise Suite deployment for construction companies. We have exclusive access to demo the platform's full capabilities and guide contractors through the evaluation and implementation process." - RedHammer Partner, Scott Franchini

How AI Agents Work in Construction Accounting

Key AI Capabilities for Construction Companies

The Summer 2025 release introduces four specialized AI agents that directly address construction accounting pain points. ¹ These agents work continuously in the background, learning from your company's transaction patterns and automating repetitive tasks that typically consume hours of administrative time.

The Accounting Agent automatically categorizes expenses and matches transactions, identifying frequent vendors like material suppliers and subcontractors. For construction companies dealing with hundreds of weekly transactions across multiple jobs, this automation can reduce bookkeeping time by significant margins while improving accuracy ¹. The agent also detects accounting anomalies—critical for identifying potential cost overruns or billing errors before they impact project profitability.

The Project Management Agent revolutionizes how construction companies handle project setup and tracking. By automatically creating estimates from uploaded documents and populating project details, the agent eliminates hours of manual data entry ¹. It suggests profitability targets based on historical project data and automatically allocates costs across cost codes, ensuring accurate job costing from day one.

Core Workflows for Construction Operations

The Payments Agent analyzes customer payment patterns and implements personalized collection strategies, including automated reminders for progress payments and retention releases ¹. For construction companies managing complex billing cycles with multiple payment applications, this automated approach accelerates cash flow without damaging client relationships.

The Finance Agent consolidates P&L and Balance Sheet data to deliver monthly financial summaries with anomaly detection ¹. It monitors performance against budgets and forecasts—essential for construction companies tracking project-level profitability and identifying margin fade before it impacts the bottom line.

“As businesses grow, so does the complexity of running their business. Intuit Enterprise Suite fuels growth by helping customers run their business on one end-to-end business platform. This mid-market solution is powered by Intuit’s data and AI platform, boosting productivity through powerful automation, and unlocking business intelligence with actionable insights.” - Intuit CEO, Sasan Goodarzi

‍Business Intelligence: Data-Driven Decision Making for Contractors

AI-Powered Financial Insights

The new AI-powered report insights feature transforms how construction companies review financial statements. The system automatically surfaces trends, anomalies, and changes in your P&L and Balance Sheet, providing visualizations of historical data with contributing factors ¹. For construction CFOs managing multiple projects and entities, this eliminates hours of manual analysis while ensuring nothing critical gets overlooked.

When reviewing monthly financials, the AI identifies patterns like seasonal revenue fluctuations, unusual cost spikes in specific cost codes, or changes in gross margin trends across project types. Each insight includes drill-down capabilities to transaction-level detail, helping controllers quickly identify root causes of variances ¹.

KPI Scorecards for Construction Metrics

The platform now includes a customizable KPI scorecard with 30+ pre-defined metrics specifically relevant to construction operations ¹. Key performance indicators span five critical areas:

• Growth metrics: Revenue growth rate, new contract values, backlog trends
• Profitability indicators: Gross margin by project type, overhead absorption rates
• Cash flow measures: DSO, cash conversion cycles, retention aging
• Liquidity ratios: Current ratio, quick ratio, working capital trends
• Efficiency metrics: Revenue per employee, equipment utilization rates

Each KPI includes detailed descriptions, calculation formulas, relevant time periods, and trend visualizations. Construction companies can track these metrics at both entity and consolidated levels, ensuring alignment across divisions ¹.

Advanced Cash Flow Forecasting

The enhanced cash flow tool creates 13-week and 12-month forecasts with construction-specific considerations like progress billing schedules, retention releases, and seasonal work patterns ¹. The AI analyzes historical payment patterns to predict collection timing, while incorporating planned expenses from project budgets and purchase orders.

Controllers can toggle between weekly and monthly views, add planned items for equipment purchases or loan payments, and model different scenarios. The system factors in construction-specific cash flow drivers like mobilization costs, material deposits, and subcontractor payment terms ¹.

3-Way Financial Planning Integration

Construction companies can now create comprehensive forecasts across P&L, Balance Sheet, and Cash Flow statements with automatic linkages between accounts ¹. When adjusting revenue projections based on project pipeline, the system automatically flows changes through to AR, cash, and retained earnings projections.

This integrated approach is crucial for construction companies preparing for bonding renewals or bank covenant compliance. The ability to quickly convert forecasts into budgets streamlines the annual planning process while maintaining consistency across all financial statements ¹.

Enhanced Dimensional Reporting

The platform's enhanced dimensions feature allows construction companies to assign dimensions to products, services, and fixed assets upfront ¹. For contractors, this means automatic dimension population when creating invoices for equipment rentals, material sales, or service work. The "Apply to all" and "Apply to empty lines" functions dramatically reduce data entry time for high-volume transactions.

New transaction types now support dimensions, including delayed credits and delayed charges—critical for construction companies managing complex billing arrangements with retainage, stored materials, and milestone-based payments ¹.

‍

‍

Multi-Entity Management for Growing Contractors

Intercompany Sales Automation

The new intercompany sales feature streamlines transactions between related entities, automatically creating matching invoices and bills ¹. For construction companies with separate entities for equipment ownership, real estate holdings, or specialty divisions, this eliminates manual journal entries and reconciliation headaches.

When Entity A (equipment company) invoices Entity B (general contractor) for equipment rental, the system automatically creates the corresponding bill in Entity B. These linked transactions flow seamlessly into consolidated reports while maintaining separate books for banking and bonding purposes ¹. The multi-entity hub provides visibility into all intercompany activity, making month-end reconciliation significantly faster.

Shared Chart of Accounts Implementation

Intuit Enterprise Suite now standardizes chart of accounts and dimensions across all entities within your organization ¹. When you update the shared chart of accounts or shared lists, changes automatically apply to all relevant entities and transactions.

For construction companies, this means consistent job cost reporting across divisions without manual mapping or reconciliation. A concrete subcontractor and electrical subcontractor can use the same cost code structure while maintaining their specialized accounts. The shared dimensions feature extends to intercompany journal entries, ensuring proper cost allocation across entities ¹.

Automated Intercompany Allocations

The platform learns from prior intercompany transactions to suggest automatic allocations for bills, expenses, checks, and bank feeds ¹. Allocations can be calculated based on:

• Percentage of project revenue
• Actual expenses incurred
• Asset utilization
• Headcount or square footage

For construction companies sharing overhead costs like insurance, bonding, or administrative staff across entities, this automation eliminates hours of manual allocation work while improving accuracy ¹.

Comprehensive Project Management Enhancements

Deposits on Estimates

Construction companies can now request and process deposits directly on estimates, with proper liability accounting until invoice conversion ¹. This critical feature addresses the industry's cash flow challenge of funding mobilization and material purchases before first payment applications.

The system records deposit payments as liabilities, maintaining accurate financial reporting for bonding and banking requirements. When estimates convert to invoices, deposits automatically apply, and the platform supports multiple payment methods including ACH, credit cards, and Apple Pay through Intuit Payments ¹.

Employee Cost Rate Calculator

The new built-in cost rate calculator guides construction companies through determining true hourly costs including base pay, benefits, taxes, insurance, and overhead ¹. For companies using Intuit Payroll, employee pay types and rates automatically populate in the calculator.

Key features include:

• Automatic application of calculated rates to time entries
• Bulk updates for company-wide changes in benefits or overhead
• Project-specific rate adjustments for prevailing wage work
• Historical rate tracking for accurate job costing on long-term projects

This tool eliminates external spreadsheets and ensures consistent labor burden calculations across all projects ¹.

Enriched Project Budgeting Controls

The enhanced budgeting system includes several critical features for construction project control ¹:

Budget Versioning: Track budget evolution throughout the project lifecycle with complete audit trails. See how change orders, scope modifications, and value engineering decisions impact overall project profitability.

Real-time Variance Monitoring: The Budget Tracker widget provides immediate visibility when costs approach or exceed allocated amounts. Project managers receive notifications at customizable thresholds (e.g., 75%, 90%, 100% of budget).

Estimate Integration: Link estimates directly to budgets to compare planned versus actual costs by phase or cost code. This connection helps identify estimating accuracy and improve future bids.

Projects by Budget Widget: Dashboard visibility of all projects sorted by budget consumption rate, helping executives identify and address potential overruns before they impact profitability ¹.

Platform Performance Updates

Global Search Enhancement

The new global search uses natural language processing, allowing searches like "invoices greater than $1000 for Ryan's Landscaping" instead of requiring specific field selections ¹. Search results now include:

• Integrated results across all entities
• Direct access to reports and features
• Help center articles and documentation
• Advanced filtering by dimensions, custom fields, and date ranges

For construction companies managing hundreds of projects and thousands of vendors, this natural language search dramatically reduces time spent locating specific transactions or reports ¹.

Performance Optimization

Intuit Enterprise Suite now delivers significantly improved performance for high-volume construction operations ¹:

• Page loading: 2x faster load times for transaction lists and reports
• Job processing: Improved speeds for bank reconciliation and payment processing
• Large data handling: Better performance with 100,000+ transaction volumes
• Multi-entity operations: Optimized consolidation and intercompany processes

These improvements are particularly noticeable for construction companies running multiple progress billings, processing hundreds of vendor invoices weekly, or managing complex multi-entity structures ¹.

Implementation Strategies for Construction Companies

Practical Steps for Migration

1. Data Preparation: Consolidate vendor lists, standardize cost codes, clean up project records
2. Entity Structure: Design optimal structure for liability protection and tax efficiency
3. Shared Setup: Implement shared chart of accounts and dimension lists across entities
4. AI Training: Allow 30-60 days for agents to learn patterns and vendor relationships
5. Team Training: Focus on project managers who need comfort with new budgeting tools

Common Pitfalls and Solutions

Many contractors underestimate the importance of standardizing cost codes before implementation. Without consistent coding, the AI agents cannot effectively learn patterns or suggest accurate allocations ¹. Invest time upfront in developing a comprehensive cost code structure that works across all project types.

Change order workflows often break during system transitions. Establish clear protocols for how change orders flow from field approval through budget updates and client billing. The enriched budgeting features require proper change documentation to maintain accurate variance reporting ¹.

Metrics to Track Success

Monitor these KPIs during and after implementation:

• Time to complete month-end close (target: 3-day reduction)
• Hours spent on intercompany reconciliation (target: 70% reduction)
• DSO improvement from automated payment collection (target: 5-10 day reduction)
• Budget variance visibility (target: real-time vs. monthly)
• Transaction categorization accuracy (target: 95%+ after 60 days) ¹

How RedHammer Can Help

RedHammer specializes in construction accounting implementations and can assist with:

• Construction-Focused Setup: We configure IES for construction workflows: cost codes, shared COA, intercompany structures, and entity relationships. Everything is built to leverage new IES multi-entity and shared-COA features.
• Dedicated Teams & Workflow Alignment: You get a RedHammer team that works with you weekly to clean up data and align processes. We help train AI agents properly so automation delivers consistent, accurate results.
• Multi-Entity & Intercompany Design: We structure intercompany reconciliations, shared COAs, and overhead allocations across multiple entities. Our approach ensures consolidated reports flow smoothly with minimal adjustments.
• Dashboards That Matter: IES BI tools are powerful, but we build dashboards you’ll actually use—gross margin by project, retention aging, DSO, and job profitability. Then we help interpret results to drive action.
• Budgeting & Cost Control: We set up templates and workflows for estimates, budget versioning, and change tracking. You’ll catch cost overruns early and keep projects on target.
• Cash Flow & Collections: Using retention tracking, forecasting, and Payments Agent, we design collection processes and reporting to tighten DSO, reduce bad debt, and stabilize cash flow.
• Training & Change Management: We train project managers and accounting staff on new tools, reports, and change order workflows, making adoption smooth and consistent.
• Ongoing Optimization: Post-go-live, we refine dashboards, review AI agent behavior, adjust dimensions, and support integrations with tools like Procore or Autodesk Build—keeping financial data clean and synced.

Frequently Asked Questions

Q: Why should I upgrade from QuickBooks Desktop or QBO to Intuit Enterprise Suite?

‍A: Intuit Enterprise Suite bridges critical gaps that construction companies face in QBD and QBO. The AI agents alone save 15-20 hours weekly on bookkeeping and project setup ¹. IES offers true multi-entity consolidation, advanced project budgeting with real-time variance tracking, and business intelligence tools QBO lacks. For growing contractors, the ability to handle complex intercompany transactions and maintain separate books for bonding makes IES the logical next step. RedHammer helps evaluate if your operations have outgrown QBO's capabilities.

Q: How much does Intuit Enterprise Suite cost for a typical $25M construction company?

‍A: Intuit Enterprise Suite pricing starts around $1,400 monthly for construction companies. For a $25M contractor with 10-15 users, costs typically range from $1,400-$2,000 monthly depending on add-on modules ¹. RedHammer provides detailed cost comparisons including implementation and training.

Q: How do I implement the new intercompany sales feature for my equipment rental entity?

‍A: Intercompany sales setup requires configuring customer/vendor relationships between entities and establishing standard pricing for internal services ¹. The process takes 2-3 weeks including entity setup, transaction testing, and workflow documentation. RedHammer helps design optimal structures for equipment, real estate, and operating entities to maximize tax efficiency while maintaining clean financials.

Q: Which business intelligence features are most valuable for specialty contractors?

‍A: Specialty contractors benefit most from the KPI scorecard tracking labor productivity and the AI-powered P&L insights identifying margin trends by project type ¹. The 13-week cash flow forecast helps manage seasonal workflows. RedHammer configures dashboards specific to your trade's key metrics and benchmarks them against industry standards.

Q: How does the shared chart of accounts work with different construction divisions?

‍A: The shared COA maintains consistency across entities while allowing division-specific accounts. Updates to shared accounts automatically sync across all entities ¹. You can have common cost codes for all divisions plus specialized accounts for unique operations. RedHammer develops COA structures that balance standardization with flexibility for multi-trade contractors.

Q: Is the AI-powered forecasting accurate enough for bonding and banking requirements?

‍A: The 3-way financial planning meets most surety and bank covenant reporting requirements with customizable forecast periods and assumptions 1. The system maintains audit trails of all forecast changes and allows scenario modeling for conservative, expected, and optimistic projections. RedHammer configures forecasts to match your specific bonding and banking documentation needs.

Sources

¹ Intuit Enterprise Suite Summer 2025 Product Release