There are countless types of marketing agencies. While marketing agencies differ in their focus, they all need to keep their payroll and bookkeeping processes streamlined. All agencies have to track non-billable versus billable services. Regardless of their specialty, they need to pay vendors, invoice clients, and handle other payroll tasks. Thanks to the advancement of technology, accounting firms choose marketing agency accounting software to aid in streamlining this process. When used correctly, and paired with the knowledge of an accountant, the correct software can save your agency money and time.
What to Look for in Accounting Software for Marketing Agencies
When choosing an accounting software for your advertising agency, you should identify the one that is the best fit for your agency. The marketing agency accounting software you choose should have multiple features and offer various pricing plans based on your desired features. Here are some factors to consider when selecting accounting software.
– Price
You can choose an inexpensive essential software or opt for a more expensive application that has additional features. There is no need to purchase costly software with more features than you need, but you would not want to buy cheap software that does not have the parts you need.
– Usability
Ask yourself, how many people will need to access the software? Would your firm benefit from a cloud-based software that you can access from anywhere? Do you need software with mobile capability? What are the capabilities must the accounting software for advertising agencies have?
– Features
What do you want your accounting software to accomplish? If you are like most marketing firms, you will need accounts payable and accounts receivable. Think about the reports you need to generate and how you want to track your clients. You will likely need to include time tracking, payroll, and project management.
If you know in advance what you need for your marketing agency accounting software, you will make better purchasing decisions.
Sage Intacct
Sage Intacct is the cloud accounting software of choice for marketing and advertising agencies. It is a financial management solution created to address the unique demands of advertising and marketing agencies. Some of the unique features of Sage Intacct include the ability to track campaign and project costs, allocate vendor spending, and bill your customers accurately. Sage Intacct lets your marketing firm use project-level, real-time data to manage various aspects of your projects. You can create and issue invoices quickly and accurately while giving your clients improved service. Sage Intacct makes it easy for marketing firms to run profitable campaigns using real-time financial data, and it uses visualizations, reports, and dashboards. As a result, your marketing team can spend fewer hours on spreadsheets and more time working on new lines of service, new projects, staffing, and other things that will add to your bottom line.
Workamajig
Workamajig is an all-in-one marketing project management software, specially built for growing creative agencies. It’s designed to save creative agencies of all shapes and sizes time, effort and money; regardless of whether your marketing agency has five or 5000 employees. The Workamajig software is fully equipped with sales CRM, project management, resourcing, time tracking, business intelligence and finance and accounting features to bring both creative project work and agency financials together in one integrated platform. Work at improving your profit margins through better reporting, accurate invoicing, and detailed expense tracking with this marketing agency accounting software feature that could save you money if used correctly and with the help of an accountant that understands this specific software. Workamajig enables marketing agencies to rather spend time executing creative client campaigns, while the software takes care of the admin and accounting. It is advisable to employ the expertise of an accountant familiar with this software to set it up correctly for your business.
I reached out to the Fusion team and within about a week they got me onboarded and started managing my company’s books. Now I’m able to spend more time with my family and friends, and not wake up in the middle of the night worrying about whether I categorized last month’s expenses correctly or if I filled out the right tax forms. The Fusion CPA team are truly the best.
Accounting Expertise to Help Move Your Organization Forward
Fusion CPA is a team of expert controllers who can help you select and use marketing agency accounting software. In addition to offering bookkeeping, accounting, and outsourced CFO services, we can show you how to use accounting software to grow your business the smart way.
Contact us now to learn how you can make intelligent and data-driven decisions that will contribute to the growth and success of your marketing or advertising firm.
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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.
