Accounting package for software services business

Hi,

This is my first post here - I am looking for some advice on IT software for our business and would appreciate any help that can be offered.

My company provides software and related services. We have a small team of developers and consultants that work on a variety of client projects, and a support operation.

We are looking to implement an integrated system for overall financial management.

Specifically I would like the integrated system to:

  • Record project details (customer details / timecodes etc.)
  • Track time spent by services staff
  • Record expenses
  • Produce project invoicedbased on work done (+ expenses) in any month
  • Perform standard accounting leger functions
  • Be suitable for UK accounting - e.g. preparation of VAT return info
  • Produce client statement of accounts
  • Provide deferred revenue / work-in-progress figures
  • Provide key financial information - e.g. monthly P&L, Cashflow, Balance Sheet.
  • Provide key management information - e.g. KPIs - although this could be done outside the system providing the data can be exported

We currently use a simple timesheeting system with VT Transaction+ for sales/purchase/nominal ledger, invoicing and VAT, and a mixture of spreadsheets for management reporting.

Our turnover is in the £1m - £2m per annum range. We are prepared to invest in the right system, but the cost must be in proportion to our turnover.

I believe our needs are modest but somewhat specialist. I am interested to hear if anyone has experience of using or delivering packages for this sector.

Many thanks.

Comments
Castroggi's picture

ERP

Castroggi | | Permalink

John,

you might want to look at demo

'Service based businesses and Voluntary Sector organisations' (7 minutes) at http://centralaccounting.co.uk/home/online-demonstrations/ which seems to cover everything you have just mentioned. Regards, Paul

Thanks for this info.

John Special | | Permalink

Thanks for this info.

I looked at this product and it doesn't seem to have the time / job / expenses capability and seems more aligned with a manufacturing business.

A shame really as the remainder of the package does seem well suited.

Any other suggestions anyone?

Thanks!

Hugh Scantlebury's picture

We are a software company...

Hugh Scantlebury | | Permalink

...and we use our own accounting and business software called Aqilla.  It's cloud based, modern, easy to use and in terms of your requirements:

 

  • Record project details (customer details / timecodes etc.) - Yes
  • Track time spent by services staff - Yes
  • Record expenses - Yes
  • Produce project invoicedbased on work done (+ expenses) in any month - Yes
  • Perform standard accounting leger functions - Yes
  • Be suitable for UK accounting - e.g. preparation of VAT return info - Yes
  • Produce client statement of accounts - Yes
  • Provide deferred revenue / work-in-progress figures - Yes
  • Provide key financial information - e.g. monthly P&L, Cashflow, Balance Sheet - Yes
  • Provide key management information - e.g. KPIs -Yes

Aqilla also features built in workflow for approvals, sign off etc; automatic emailing of invoices and statements, links to banks for payment and statement upload for automatic reconciliation.

If you would like a demonstration do please get in touch. Regards, Hugh

 

I would advise against an

accountingsoftware | | Permalink

I would advise against an integrated system. It means there is more to break/fix when something goes wrong and that you end up buying a tool that does a lot of things... badly.

Take a look at SugarCRM as an open source solution for your day to day CRM or you could invest in systems like basecamp and highrise which integrate together well.

 

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