Are you curious about advertising agency accounting software like I was? So was every writer I asked. It turns out there are lots of ways to get into the ad agency business, just like there are lots of ways to start and grow your own marketing agency.
Advertising Agency Accounting Software is designed for advertising agencies and all type of dept. stores, clothing stores, factories and many other business people who need to control their expenses and cash flow, customers, vendors and employees transactions and many other stuffs.
Advertising Agency Accounting Software for advertising agencies and ad agencies that are serious about growing their business. As practicing advertising professionals, we understand the needs of advertising agencies. Not only does your agency need to manage client accounts, proposals and marketing campaigns, you must now track billings, expenses, payroll and taxes. Our professional-grade software can handle all the workflow of your agency in one place
Even if you don’t want to be a part of one of the top advertising agencies, you can always work for one. Advertising agencies are constantly looking for talented individuals and you can get hired as an accountant at just about any advertising agency in the country. All you need is appropriate accounting experience and exposure to current business trends.
How to Choose the Best Accounting Software?
Accounting has always been an essential part of each business. While it used to be a paper-based accounting system, with the help of the digital world, it has turned into software-based accounting solutions. Whether you are a large enterprise or small business owner, you would like to keep tracking your financial operations and gain insights into how your business is doing.
Account management software helps reduce costs compared to hiring an accountant and it also prevents you from human errors while running your business. Providing high accurate services drastically builds trust between you and your customers. As most accounting software offers all-in-one-place solutions, it saves you time.
monday.com
Best for ease-of-use & UITrack advertising and marketing projects according to your preferred methodology.
monday.com is a great advertising agency software because of the way the tool has done away with a lot of the trimmings of typical management tools and focused on simple, visually intuitive layouts that help clarify the sequence of work.
monday.com features for managing advertising projects include resource and project management modules with some great collaboration tools. For example, users can upload and attach files to cards, make comments, mention teammates, and more. It also offers a great project reporting dashboard that can collect data from multiple boards, allowing better tracking abilities of progress. And while monday.com doesn’t offer a complete set of tools for project accounting and invoicing solution as other tools, you can use monday.com to track hours, timelines, and invoices.
Overall, it’s a highly customizable tool that lets you work in whatever methodology—kanban or otherwise—that fits your project and team. You’ll also find some useful workflow tools for automating parts of your process.
monday.com’s integrations include project management apps like Slack, Google Drive, Gmail, Google Calendar, Jira, GitHub, Trello, Dropbox, Typeform and many more, accessible via Zapier.
monday.com costs from $6/user/month and comes with a free 14-day trial. They offer a free plan for up to 2 users.
Forecast.app
Best advertising agency software for intelligent automationForecast’s dashboard allows users to track multiple projects and resources in the same view.
Forecast is a platform for advertising agencies to manage resources and projects used in 40+ countries worldwide. The tool includes capabilities for managing the project life cycle from quote to invoice, as well as intelligent automation for predicting project delivery dates and forecasting capacity needs.
Users can create project plans with Forecast’s auto-schedule. The powerful AI automatically estimates tasks, assigns and optimizes workload across resources, and sets a project delivery date. The tool also provides dashboards with overviews of the organization to allow for informed adjustments to time and resource allocation.
Forecast also introduced a unique feature for managing projects in a retainer setup. A dashboard with retainer periods and totals lets you track the financials of ongoing projects in addition to staff workloads and time spent on delivery.
Forecast integrates natively with Slack, Google Drive, QuickBooks Online, Salesforce, and Xero. Other integrations are available through Zapier.
Forecast has Lite, Pro, and Enterprise options that cost from $29/user/month (14-day free trial).
Mavenlink
Best advertising agency software for integrationsMavenlink tracks hours, budget, and more and generate robust reports accordingly.
Mavenlink has tools for resource management, project management, team collaboration, project accounting, and business intelligence. As far as advertising agency software goes, this tool is one of the most robust.
Mavenlink also features file sharing, email integration, custom branding, time and expense tracking, project/job costing, invoicing and online payments, personnel planning, and more. Product plans include access to 24/7 customer support and a resource library.
A single, easy dashboard lets you monitor all of your Mavenlink integrations, which can include Netsuite, Quickbooks, Salesforce, G Suite, Jira, Expensify, Xero, Concur, Sage Intacct, Slack, Hubspot, Microsoft and more.
The visual appeal of the interface is a bit convoluted and the aesthetics leave a bit to be desired, which may be a turn off for some users, particularly those tech-adverse. Locating passed posts and projects can be a bit of a drag and search functions could be improved for better archiving.
Mavenlink offers plans to meet your needs. Choose from resource management to complete PSA with advanced BI. To receive accurate pricing information, contact Mavenlink directly.
QuickBooks Online
QuickBooks Online (QBO) is a cloud-based accounting software that can help you with all of your regular bookkeeping tasks like expense tracking, bank reconciliations, and sales tax tracking. It can also help with invoice generation, emailing invoices to clients, and sending automated invoice payment reminders.
QBO also has a project feature that can help organize expenses, invoices, estimates, transactions, and the time spent related to each project. In addition, the project feature can also identify outstanding invoices and payments for all of your current and past projects. This will allow your agency to manage all the financial aspects of your projects on a centralized system, and provide you visibility on the profitability of each project.
QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.Pros
- Scalable
- Commonly used by accounting professionals
- Integration with third-party applications
- Cloud-based
- Mobile app
Cons
- Upgrade required for more users
- Occasional syncing problems with banks and credit cards
Intuit’s QuickBooks Online has been one of the most common accounting softwares used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or through the mobile app.
After the 30-day free trial, the four options for subscription plans include: Simple Start at $25 per month, Essentials at $50 per month, Plus at $80 per month, and Advanced at $180 per month. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.
The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online.
Each plan offers more advanced features like inventory management, time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs. For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.
All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down all of their apps by function and provides helpful examples of the benefits of each app.
Expensify
Working in a marketing agency usually includes travelling to meet your clients or perhaps even taking them out for a meal. This means that your employees will need to expense these transactions and get reimbursed.
Expensify is an excellent tool for employees to submit their expense reports and get reimbursed, simplifying and speeding up the expense reporting process.
Expensify uses SmartScan technology, allowing users the advantage of being able to snap a picture of their receipts with their smartphone. The program automatically saves and exports all critical data, eliminating the need to keep paper copies of receipts.
Your employees will no longer have to spend precious time filing expense reports, while you get greater visibility over your cash flow and expenses, and save the time and hassle required to chase down employees for their expenses.
Dext Prepare
Another excellent expense management tool is Dext Prepare. Your marketing firm must be able to track overhead expenses as well as your billable expenses. When using Dext Prepare, you can code each transaction to the proper account and export it directly to your accounting software.
Dext Prepare uses OCR technology to automatically extract crucial data from receipts, invoices, and bank statements, streamlining your bookkeeping process. This saves you a significant amount of time on manual data entry and eliminates the need to store any physical documents since everything is stored in the cloud. Plus, it helps with tracking expenses and easily integrates with other cloud accounting software like QuickBooks Online and Xero.
Key Criteria to Evaluate Accounting Software
Pricing Policy
Accounting is the most important part of your business. So you should be very selective while choosing the right accounting software. Before investing in it, there might be a lot of questions in your mind such as does the software offer free trials or demo? How does it charge you? What are the payment methods? etc. The healthy decision making cycle would start with being able to try it first to see if it meets your needs and then invest in it.
Accountability
As you share sensitive data with the software, you may wonder how it stores the data. You can ask the company about their security measures or you can make a quick research on how long they have been serving the industry, what types of businesses are using the software, how satisfied the customers are with it etc. These all give you insights into how accountable the accounting software is.
Multi-User Access
You should be mindful of how many users will have access to the accounting software programs. If there are many, cloud-based solutions may be a better choice for you alongside the desktop solutions, as it gives you a chance to access from anywhere without user limitation. In addition to this, mobile apps also help track your financial operations and accomplish core tasks on the go.
User Friendliness
If you are a small business owner, you probably want to invest in less complicated solutions to not spend time learning how to use the platform. The same thing goes for the account teams. If the accounting software does not provide an easy to use interface, it would not make sense to have rich features.
Customer Services
Customer support comes first if you are dealing with data because problems can arise at any time. Easily accessible and knowledgeable support can help solve problems in more accurate and efficient ways. Before choosing accounting software, have a look at what types of services it offers. Does it offer phone or live chat support?
Conclusion
All agencies have their own way of working, growing and handling the daily affairs. However, there are some basic principles that always stay the same. One of them is accounting and invoicing, invoicing in compliance with the already agreed upon standards. A modern advertising agency accounting software can greatly facilitate all aspects of this process and make it less painful for everyone involved. Double entry bookkeeping app lets you simplify some task within your advertising agency or for yourself.
Our software is the best advertising agency accounting software on the market. This billing software for advertising agencies has all the tools you need to keep your business running smoothly, including project management and scheduling as well as business financials, sales force tracking and reporting, payroll, and accounting