Service Industry Accounting Software

Service Industry SoftwareAccounting processes for service providers vary significantly from those of companies offering a product. Because a service provider’s offering involves an investment of resources over time rather than the one-time sale of a tangible item, their billing, work orders, and reports will be handled differently. That’s why service-based businesses need an accounting solution that can accommodate the specifics of their industry while also increasing efficiency and productivity.

CompareAccountingSoftware.com offers a unique, unbiased software selection tool that will help you compare software solutions based on the specific needs of your business. With the right software in place, you can streamline the accounting processes of your business while focusing more intensively on the growth of your company.

Professional Services Vs. Commercial Services

The type of service you provide will play a part in determining your accounting needs. If you offer commercial services that typically involve manual labor or a physical job to be completed, you will need to track materials, labor, job costings, and other expenses. Businesses in this sector include auto mechanics, cleaning technicians, construction companies, and maintenance providers. Professional services include lawyers, consultants, designers, and engineers. Their services usually involve concepts and specific types of knowledge rather than physical labor. Professional services usually bill based on the number of hours involved and require a way to track time investment and generate meaningful reports for clients.

Service Industry Accounting Needs

As a service company, you need an accounting solution that can handle each of the specific needs of your business in addition to basic functions like payroll and accounts payable/receivable. These needs may include:

  • Time-based billing—Use this module to bill based on hourly rates or time spent on specific tasks.
  • Work order management—Schedule service visits for multiple technicians, track recurring work, and bill based on set rates or specific services.
  • Job costing—Manage expenses for materials and labor over the course of each job. This feature is especially helpful for tracking costs that vary greatly from job to job.
  • Client-oriented reports—Reports will be based on communicating data to the client as well as to those within the business. Track and review progress, time, and costs in an accessible format.
  • Scheduling—Schedule individual technicians, jobs, and clients all in one place to reduce overlap and increase efficiency.

At CompareAccountingSoftware.com, we take the guesswork out of choosing the right accounting software solution. Simply input your requirements into our software selection tool and view the providers who can meet your needs all in one place. Because we work with only one provide per solution, you can choose who contacts you without being inundated with time-consuming sales calls.

Before you buy accounting software for your service-based company, let us help you create your short list of providers. We’ll give you the tools you need to research solutions that meet the specific requirements of your business, whether you are looking for an integrated software package or individual add-on modules.  It’s the easiest, most beneficial software research you’ll ever do.