Architecture firms have very specific accounting requirements. Work is typically done on a project basis. Usually, billing is primarily a function of time. Architects also work very closely with clients to meet expectations and managing communication is critical. With numerous different accounting software options available, it’s important to find the right package to meet your particular requirements.
The reality is that there are many nuances to adequately managing financial information for a business that sells services instead of products. Architecture and design companies selling their professional services have unique requirements: billing is often based off of time, the type of financial reports needed can vary, and a client-centric approach to managing and presenting data is imperative. Finding a solution optimized for the way your company works can make a big difference in leveraging cost-savings and growth from your software investment.
Accounting software packages designed for architecture firms also offer a full range of financial management tools. Accounting features include the ability to print checks, pay bills, track expenses, manage payroll, create orders and invoices, manage receivables, establish budgets, perform bank reconciliations, and create top level financial reports.
Time and billing modules provide a way to track time spent working on project for clients. A time and billing module will support time-tracking where entries can be assigned to specific clients or projects, as well as marked billable or non-billable. Time and billing is typically the easiest way to bill for work that is primarily based off of time. Summary views in time and billing applications help service businesses analyze the work they’ve performed on particular projects. Basic expense tracking capabilities provide a method for charging incidental costs back to the client.
Architecture firms also frequently need to manage lengthy design projects. Project management modules provide the ability to effectively manage workflow. With a project management module you’ll be better able to schedule project work. Typical results of improved project management include shorter timeframes to complete projects and better accuracy in identifying delivery dates.
Most architecture firms work in a highly consultative capacity with their clients. Effectively managing relationships with clients is paramount. Tools that help improve client relations, such as customer relationship management (CRM) systems are critical for architects. An integrated CRM package can provide comprehensive information on customers and prospects for sales, marketing, and customer service.
Solutions designed for the architectural industry are not found on the shelf at a retail store and searching online on your own can be time consuming and lead to dead ends. If you are at the point where you are ready to find which architectural software options are right for you, we can help. Through a brief phone call, our software specialists will look to better understand your business and software needs to help you locate a handful of solutions suited for your specific requirements. Get started today!