Build it, and they will come. This old adage might as well have been plucked from the mouths of architects looking to scale their business with accounting software for architects. With the right financial management tool, time spent on bookkeeping tasks can be reduced by 30%. But what is the best accounting software for architects?
In this article, we’ll take a look at some of the most popular programs out there and why they are tailored to meet your needs. We’ll also go over considerations that should be taken into account before you make your selection.
Our Top 5 Accounting Software For Architects
Best Accounting Software For Architects Reviews
1. Best Overall: Sage Intacct
If you’re looking for reliable and professional-grade cloud accounting software, Sage Intacct is an excellent choice. It comes with a wide variety of features specifically designed to meet the needs of business owners and professionals in the architecture space.
Sage Features
- Mobile access: With this feature, users can easily log into their accounts from any wireless device to keep track of their finances on the go.
- Time Tracking: This function allows users to track every minute they work on a project within Sage Intacct – helping improve both productivity and billing rates per hour.
- Project Management: This function allows users to manage and track all types of projects within their accounts. It even offers real-time updates on the number of hours spent on each project.
- Reporting: With this feature, users can easily track and report data like time spent on projects and profit percentages.
2. Best Customizable Option: Oracle NetSuite
The design industry has been struggling to keep up with the times and technology for quite some time. However, with so many other software products available, it’s hard to find an accounting solution that is both modern and reliable; that is, until now. Enter Oracle NetSuite: an attractive, inexpensive, cloud-based Accounting software solution for Architectural firms across the board.
NetSuite is a great accounting solution for all types of businesses, but it shines for design-related ones. The program allows users to easily track client information, time, expenses, and projects with a user interface that is both simple and appealing.
Additionally, NetSuite is highly flexible. Its “blank slate” nature allows users to create custom fields to suit their unique needs and preferences. Users can also add property information for tracking assets and depreciation on buildings and other significant assets.
3. Best User-Friendly Customization Options: FreshBooks
The world of architecture is a fast-paced environment, where complex financial calculations, time management, and collaboration with clients are the norm. This is why many architects turn to FreshBooks for their accounting needs.
The software assists in streamlining repetitive tasks like invoicing, online payments, and time tracking – while also helping you keep your bills organized. It’s perfect for anyone that works in an environment where they need to be on top of expenses as they happen – such as architects.
FreshBooks is an all-in-one accounting software that allows you to take control of your finances from anywhere by creating invoices, managing expenses while on the go, receiving payment, and tracking time on client projects. You can also run your business from anywhere in the world with a web browser or smartphone.
FreshBooks Features
With bill clients and set up recurring invoicing, FreshBooks allows you to bill your clients directly through the platform – making it easier than ever for you to be paid on time. You can also send your invoices by email, making them trackable; useful if your working with multiple projects at once or have to get in touch with clients frequently.
The view of a week in FreshBooks is quite informative, allowing you to see what tasks need to be accomplished on any given day. Furthermore, FreshBooks gives you a clear snapshot of how much money has been made and how much needs to be billed out – really helping you manage expenses as they happen.
4. Best for Growing Businesses: Zoho Books
Zoho Books is powerful accounting software for architects.
We are excited to share the benefits of using Zoho books with you:
- Manage your firm’s finance: Accounting, Expense Management, Invoicing, Billing, and Reporting
- Allocate time and resources to projects by using task lists: Task List allows you to assign tasks to users assigned and tracked on a calendar. In addition, users can sync their calendars with task lists so they know how much time they have in their schedule for each project.
- Track project progress by viewing task status: There are various chart views available in Task List that allow you to see the status of tasks that are due or overdue.
5. Best for Small Business: Xero
Xero is cloud-based accounting software that focuses on small enterprises. This means that it allows businesses to manage their finances all in one spot, with minimal IT help. Unlike big software companies, Xero does not limit its users with complicated updates and upgrades – only minor edits. They also have very little bureaucracy involved to keep smaller businesses running smoothly.
Xero is designed for small businesses, and there are several features that Xero offers to accommodate them. For example, single-entry accounting eliminates the need for double entry. This usually saves time, especially when Xero assists in updating or adding new invoices to clients.
Xero also has financial reports which allow users to see where their money goes. These include current balance and profit/loss reports. Users can compare this data with previous years as well as with other financial software programs.
Xero has cash flow forecasts that help users plan for future cash outflows by forecasting sales and costs into the future.
Buyer’s Guide
Most commonly, architects use two main types of accounting software for their designing companies: on-premise software and cloud-based software. The former option typically requires you to purchase the software and install it on your hardware.
You keep the program forever with no recurring fees or other charges. You don’t have to purchase anything with cloud-based software since it’s hosted on a third-party server. As such, you’ll be charged a subscription fee instead of buying the software outright. Let’s take a closer look at both options.
On-Premise Software
You pay a one-time fee to buy the program. The upside is that you’re always guaranteed to have access to the same version, and you can install it on your company’s computer(s). The downside is that you might have to buy additional licenses or upgrade your existing version with growth in your business.
Cloud-Based Software
The software is hosted on a third-party server, and as such, you’re afforded access to the latest versions. With cloud-based software, you can install the programs on multiple devices rather than just one computer. In addition, you won’t have to extend the warranty period for your account since your subscription is tied to a monthly rental fee.
FAQ
What Is Accounting Software For Architects?
Accounting Software for Architects helps provide detailed accounting information to those in the architectural field. It is very similar to other software, but it needs more specific data and measurement methods than other software. The accountants at this company create different solutions that allow their clients a clear view of what has happened during a given period.
Is Quickbooks Good For Architects?
Yes, Quickbooks is suitable for architects. This is a software program for accounting, payroll, and other business management activities. For architects and builders, it can generate work orders for contractors to complete the work on a project.
Architects who use QuickBooks as part of their workflow report that they like its simple interface. They also like that it generates work orders automatically. Plus, the web-based program makes it easy to collaborate remotely with colleagues or share information with clients in real-time.
What Accounting Software Do Architecture Firms Use?
MS Office Accounting software is the most commonly used accounting software by design firms. Many firms use QuickBooks andIn addition, other less-common types of accounting software to keep track of their finances.
