LiveCosts vs Excel (Spreadsheets)
LiveCosts is construction cost tracking software that brings budgets, purchase orders, invoices, labour and financial reporting into one system. It helps contractors track actual and committed costs in real time, without relying on manual spreadsheet updates.
Why contractors choose LiveCosts over spreadsheets from budget to final account?
Side-by-side comparison
| Feature | LiveCosts | Excel Spreadsheets |
|---|---|---|
| Job costing |  Live costs by project and cost code |
 Manual entry or data imports |
| Budget vs actual | Live budget tracking |
Formulas and manual updates |
| Committed costs | POs update project commitments |
Requires a maintained PO register |
| CVR reporting | Connected cost and value data |
Manual reconciliation and calculations |
| Cost forecasting | Forecasts linked to project costs |
Custom forecast models |
| Purchase orders | RFQs, approvals and PO tracking |
Templates and separate registers |
| Invoice processing | AI extraction and three-way matching |
Manual entry or external tools |
| Labour tracking | Timesheets linked to job costs |
Manual timesheets and imports |
| Variations | Built-in variation management |
Manual variation registers |
| Retentions | Construction-specific workflows |
Custom formulas and registers |
| CIS | Supports construction workflows |
Manual calculations or external software |
| Cost codes | Linked across project costs |
Custom coding and formulas |
| Accounting integration | Xero, Sage and QuickBooks |
Manual imports or custom connections |
| Collaboration | Shared project cost records |
Shared files and version control |
| Implementation | Guided onboarding in a few days |
Immediate basic use; setup varies |
Trusted by construction companies globally
Why teams pick LiveCosts
Control Project Spending
LiveCosts helps contractors manage project spending before it reaches the accounts department.
Track Project Costs in One Place
Instead of collecting figures from separate spreadsheets, teams can track purchases, invoices, labour and budgets in one place.
Live Cost and Margin Visibility
Commercial managers and quantity surveyors get a clearer view of committed costs, remaining budgets and expected project margins.
Feature Comparison: LiveCosts vs Spreadsheets
Job Costing
Track labour, materials, plant and subcontractor costs against project budgets
Spreadsheets
Quantity surveyors can prepare CVRs and forecasts using Excel formulas. They must update actual costs, commitments, variations and forecast figures to maintain an accurate position.
LiveCosts
LiveCosts brings budgets, actual costs, commitments and project value into CVR reporting. Commercial teams can review cost forecasts, identify budget pressure and track expected profitability.
CVR Reporting and Forecasting
Compare project costs and value to assess financial performance.
Spreadsheets
Quantity surveyors can prepare CVRs and forecasts using Excel formulas. They must update actual costs, commitments, variations and forecast figures to maintain an accurate position.
LiveCosts
LiveCosts brings budgets, actual costs, commitments and project value into CVR reporting. Commercial teams can review cost forecasts, identify budget pressure and track expected profitability.
Procurement
Manage supplier quotations, purchase orders, approvals and deliveries.
Spreadsheets
Contractors can use Excel templates to record supplier quotes, purchase orders and deliveries. Tracking approvals and outstanding commitments requires regular updates and supporting records.
LiveCosts
LiveCosts connects RFQs, supplier quotes, purchase orders and deliveries. Approved purchases update committed costs, helping teams see future spending before invoices arrive.
Discover how easy it can be to track and control costs in real time.
Implementation timelines
| Approach | Setup time | Typical steps |
|---|---|---|
| LiveCosts |
Typically a few days |
Import budgets, set up projects and cost codes, connect accounting, configure approvals and train teams |
| Spreadsheets |
Immediate for basic tracking |
Create templates, define cost codes, build formulas, assign access and establish update processes |
Note: Implementation times depend on business size, project complexity and existing data. Many LiveCosts customers are up and running within 1-5 days. Our onboarding team helps you set up your first project and supports you as you roll out across the business.
Where LiveCosts fits — and common drawbacks
Spreadsheets remain useful for budgeting, calculations and smaller projects. However, contractors managing several active jobs may need more control over purchasing, costs and reporting.
LiveCosts provides a dedicated system for teams that need current financial information without maintaining multiple spreadsheets.
Where LiveCosts Fits
- Contractors managing several active projects and budgets.
- Quantity surveyors preparing regular CVRs and forecasts.
- Commercial teams tracking purchase commitments and variations.
- Finance teams handling supplier invoices and approvals.
- Businesses replacing manual job costing and cost reports.
- Contractors using Xero, QuickBooks or Sage for accounting.
Common Spreadsheet Drawbacks
- Outdated figures: Reports depend on regular manual updates.
- Version conflicts: Different teams may use different files.
- Missing commitments: Purchase orders may not appear in cost reports.
- Manual reconciliation: Teams must match invoices, costs and accounting records.
- Formula errors: Changes to formulas can affect calculations.
- Limited audit trails: Approval histories require additional controls.
- Reporting delays: CVRs and forecasts take longer when records are disconnected.
Why Choose LiveCosts
Both approaches can support construction job costing. The right choice depends on project complexity, reporting needs and how much manual work your team can manage.
| Choose LiveCosts if… | Keep spreadsheets if… |
| You manage several active projects | You manage a few straightforward jobs |
| You need live actual and committed costs | Periodic cost updates meet your needs |
| Your team handles frequent purchase orders | Purchasing activity is limited |
| You prepare regular CVRs and forecasts | Basic budget reports are sufficient |
| You want connected invoice approvals | Manual invoice checks remain manageable |
| Multiple teams need current cost information | One person maintains project records |
| You want job costs linked to accounting | Existing reporting processes work well |
The key difference: Spreadsheets offer basic cost calculations. LiveCosts connects the purchasing, invoice and labour workflows that keep project costs current.
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Frequently asked questions
Discover how easy it can be to track and control costs in real time.