We wrote this guide to help you determine what kind of system will best suit your organization.
Here’s what we’ll cover:
Here’s what we’ll cover:
Architectural accounting software tracks costs by individual job and records client information. Since billing for services is usually measured in units of time, the software is usually equipped with time-logging abilities and the ability to allocate time to different projects and clients. In-depth analysis should also be available from breaking down each project into organized steps within a set schedule. Time can be designated as either billable or non-billable.
In addition to core modules such as the general ledger, accounts receivable and accounts payable, these systems typically includes the following features:
|Project & department management||Architecture firms need to manage lengthy design projects. By automating scheduling, allocating resources and budgeting and forecasting, firms can better ensure accurate proposals and effective use of employees.|
|Time billing||Time and billing modules use timesheets and expense reports to funnel back into the project plan the actual costs, billable time and non-billable time spent. This ensures accuracy in billing and in estimating for future projects and helps maximize cost recovery.|
|Customer relationship management (CRM)||CRM systems supports lead development, marketing campaigns and customer service by using a comprehensive database to track prospects and current/past clients. Architecture firms get most of their business from the referrals and developed relationships, CRM is critical for long-term success.|
|Document sharing & development||Secure document collaboration allows sharing information of projects, clients and other records between the relevant employees. Document management could also include proposal automation, which will help the user develop high-quality proposals and increase closing rates.|
|Audit trail||Architecture accounting software should track and organize expenses and individual project steps in case of a mistake in billing or an expense that qualifies for client reimbursement.|
Like some other industry packages, architectural accounting software benefits from specific report-writing mechanisms which can deliver descriptive progress and billing documents to a client. The size of the firm will have a big impact on the system needs. For example, a larger firm, dealing with multiple projects and employees, will need more robust project and time tracking capabilities than an individual freelancer.
When evaluating these systems, buyers should consider the following:
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