No matter how far we run, we can not run away from the yearly accounting obligations! Not just that it is necessary, but it displays to us the mirror of our actual business performance. Hence, omitting the same would be no less than a blunder! Thus, in this blog, we discuss – how to manage the financials in the service industry, why QuickBooks, and how QuickBooks integration with service software is essential!
Managing Financials in the Service Industry
Coming to the field service industry, half of the business operations reside out of the office. Hence, keeping a streamlined process becomes crucial. Similarly, for financing and accounting, the planning, directing, recording, and reporting becomes hectic as it increases the chances of duplication of efforts from in and out of the office. For the same reason, there are numerous software products to settle the possible chaos! But how do we know which one works the best for us?
Accounting Software for Service Industry
When it comes to the best accounting software, Intuit QuickBooks needs no introduction. Calling it “the service industry’s standard accounting platform” is no exaggeration. However, its niche being accounting, the other company operations, like scheduling, dispatching, reporting, marketing, and overall business management, can not be addressed with QuickBooks software alone. It might sound like a “no-big-deal” scenario, but considering all company operations to be inter-connected, as mentioned before, duplication of efforts is not far away. Moreover, the juggling between platforms that do not integrate may make room for mistakes and miscommunication.
It is where the all-in-one field service software steps in. But, what if our all-in-one service software does not offer QuickBooks integration? Service contractors would hardly call it all-in-one then!
That is just not it. Numerous reasons suggest why one should opt for a service software with QuickBooks integration; read along!
Before we move into the reasons, let us first ask Why QuickBooks?
No matter what is the size of your business, QuickBooks has a plan for you!
- A dashboard with your linked bank credit cards, get insights on how your business is doing at a glance;
- Send customized invoices;
- Offer your customers an instant way to pay!
- Not only track expenses on the way but sort them;
- Use customizable tags, like for seasonal promotions and marketing channels;
Lastly, focus on what matters the most!
QuickBooks offers customizable features as per the business size, which adds to its value.
QuickBooks Integration with Service Software
Now that we are clear with how QuickBooks is the best option, it is time to seek answers to — Why we need QuickBooks integration for our field service software?
- Everything in One Basket: With QuickBooks data getting synced automatically through your service software, it enables the accountant, or any viewer for that matter, to have a clear vision of what is going on. Everything in one place makes it easier to make quick and informed decisions.
- Streamlining Operations: Having a structured record of everything aids the organization and adds to the convenience. In case there need to be any alterations, it becomes a matter of seconds!
- No Duplication of Efforts: With direct data sync, forget the double-entry requirements!
- Save Resources: We can not underlook the saving of time and energy through QuickBooks integration. Also, the financials become easily accessible, hence, adding to comfort. Along with making the process smooth, it creates room for focusing on other priority tasks.
- Fewer Chances of Errors: With the availability of automatic QuickBooks sync, the dependency on manual work reduces. Thus, fewer chances of mistakes!
With numerous customizable options, a service business does not require adjusting to the service software. Have a look at a case study of our client about finding the right quickbook. The software product itself adapts to the operational needs. And, having the best integrated with the same would only make it all better!
As you are entering the new year, make sure to reflect on your financials from 2020. To guide you on the same, join SmartServ on the 20th of January, 1 PM PST for a free webinar on — Top Ways To Improve The Financial Operations Of Your Home Service Business. Reserve your seat and leave with an accredited certificate of participation and an informative Business EBook! Register now at https://www.smartserv.io/webinar/