Choosing Accounting Software for Your Interior Design Company

Accounting

Accounting is a crucial business function that must be executed with vigilance and poise. It certainly shouldn’t be overlooked, as an integral component of business operations.

It plays a crucial role in keeping track of time, tracking expenses, purchase orders and adhering to legal regulations. Fortunately, there is considerable accounting software in existence to help you through what otherwise requires professional expertise, though leveraging the knowledge of accountants is a complementary approach.

But doing so isn’t always realistic, especially in the early stages of business. If affording an accountant seems unlikely, software is a fantastic way to manage your finances like a pro. The interior design industry is markedly different from any other, with unique quirks that require you to think differently than in other industries.

But that doesn’t mean accounting has to be a daunting task, in fact by utilizing one of the following pieces of software popular among interior designers you’ll be onto a winner:

QuickBooks Pro

QuickBooks Pro

QuickBooks is actually used by many professional accountants, and if it’s good enough for them then it will certainly benefit your interior design business. What’s great about this platform is you can access your books from any device, utilizing a mobile-optimized approach where data is stored in the cloud.

With QuickBooks Pro you can create and send invoices, record expenses, and manage your cash flow by scheduling recurring payments and entering bills from vendors.

Studio Webware

Studio Webware caters to the project management field but integrates essential accounting functions to help you secure financial stability. These include:

  • Office expenses
  • Purchase order
  • Accounts payable
  • Account receivable
  • Balance sheet
  • Cash receipts
  • Journals
  • Many other important tools

This web-based service is the future of accounting, where it’s incredibly easy to store your records online. This eradicates some of the mundane work involved with traditional accounting, and is a great approach should you choose to work with an accountant.

If you do they can competently access your accounting records from any location, a huge advantage that reduces the impact of geographical restrictions.

Design Manager

Another platform combining project management and accounting, Design Manager follows the principles of GAAP to help you do your accounts. What’s great about this software is that it’s been developed specifically for interior design businesses, so it will do everything you need to be successful.

IVY

A platform for interior design project management, which also includes Quickbooks for supreme accounting functionality. This best of both worlds approach is great because you can manage your design initiatives and finances simultaneously, capitalizing on an integrated approach.

IVY is cloud-based, so it fits with today’s online oriented business approach. You can manage projects quickly and effectively, while easily storing and sharing information online. If you do work with an accountant this data is easily accessible.

What’s great about IVY is you can track things like furniture delivery and timelines, send invoices, set reminders, configure installation schedules, and more. This is perfect when you’re running a business where stock management and pricing are such critical initiatives.

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