CRM for Accounting

Accounting is a vital part of any business, whether you handle it yourself or have an entire team. With today’s accounting solutions, managing your money has never been easier, but the right tool is vital. The good news is, you can easily integrate your favorite accounting solutions with the customer relationship management software you use for customer relationships, sales and human resources management.

A small business’s biggest advantage is being quick on its feet in order to respond to client needs. While a large firm employs a separate accounting staff to handle quotes and invoices for clients, as well as purchase orders for suppliers, this introduces an extra step that can slow down the customer experience. With 1CRM, a business’s front-office staff can generate the right accounting documents exactly when they’re needed, allowing your business to continue to run like a well-oiled machine.

1CRM can set up a bridge between all of your business’s functions to ensure everything runs seamlessly. Thanks to integrations with QuickBooks, Xero, FreshBooks, Saasu, and many other popular solutions, you’ll find that front-office staff can generate quotes and invoices in a timely manner from within the CRM, with all of the client’s vital information automatically populated from CRM data. This will save your team time and money.

Customer relationship management was originally specific to a business’s customers. It started as a receptacle for contact information, but gradually evolved to the intelligent platforms we see today. Not only do CRMs gather information on your customers, they monitor activities and offer insights that can help you nurture existing relationships and make new ones. This same functionality extends to the other services CRMs offer, with reporting, notifications, and forecasting helping businesses move to the next level.

1CRM is a customer relationship management solution with integrations that include invoicing and many other features.. Instead of needing separate invoicing, accounting, sales, project management, customer service, and marketing tools, a company can set up their existing software to help them do it all. This simplifies things while also offering significant cost savings. Since you can access cloud software from anywhere, your team will be able to create and view invoices, check the status of payments, look up customer information, and much more, all from their smartphone or computer.

From very early on in a business’s existence, invoicing and billing are essential to operations. If you can’t get paid, you can’t pay your own bills. A CRM with invoicing integration makes sense because all of your client information is already in the system. If you choose to use a separate solution without taking advantage of integrations, you’ll need to build a separate database there with all your customer data to ensure the crucial information is properly populated on each invoice you create.

1CRM gets you started by letting you create custom quotes prior to any project beginning. You can choose a specific tax rate and set group discounts to automatically apply for certain types of clients. If you want quotes to be approved before they go to the customer, you can set an approval workflow that will move it to the next phase automatically.

Once a quote has been approved and the work begins, accounting will next be concerned with invoicing for the work performed or products received. You can not only create invoices and customize layouts, but you can also generate packing slips to ship with purchased items. If your accounting department prefers, you can create a sales order between the time the quote is sent and the invoice is ready to ship out to help your company track the order throughout the process.

Another benefit to having everything in one place is that when you change something in one place, it automatically changes everywhere else. If your client recently moved, you don’t have to update the address in your sales, accounting, and project management software, which means you’ll never have to worry about delays or issues due to mismatched information.

After the invoice is sent, payments roll in. Hopefully it happens right away, but whether it’s the same day or three months later, your team will be responsible for managing those payments. One of the biggest challenges of that is that you likely receive money via multiple methods. Some clients still pay by paper check while others pay using a bank transfer or credit card. When dealing with all of these payment methods, it helps to have a system that can easily pull it all together.

1CRM’s CRM billing module follows every invoice through its entire lifecycle. At a glance, you can see whether a bill has been paid, how long it has been outstanding, and if any late payments have been applied. If a bill is overdue, it’s highlighted in a special color to make it easily identifiable for quick follow-up. When partial payments have been made, those will show up on the screen, as well.

Businesses that sell products have an ongoing need for a solution to manage everything. Every good CRM for accountants includes shipping, receiving, and inventory management features to help you oversee it all. Even if your business has products at multiple locations, 1CRM will provide up-to-date information on every product.

In addition to tracking your inventory, you can print packing slips and shipping labels directly from your CRM, thanks to accounting software integrations. This makes it easy for warehouse staff to pack an item, get it ready for pickup by your shipping provider, and mark an item as sent so your inventory will remain updated.

Being able to stay on top of your inventory means your accounting team will also be able to better manage your assets. At any time, accounting will have a real-time view of which products remain in your inventory since items will be taken off once they’re on their way to customers.

One of the most valuable features of a CRM with invoicing is reporting. Your accounting team is tasked with making sure your business’s finances are healthy, and reporting can give them the data they need to monitor everything. You can pull data to view your expenditures and income, setting parameters like dates and specific clients. If you want to, for instance, see which clients are taking the longest to pay, an accounting-based CRM can help with that.

With 1CRM, you’ll also be able to schedule reports to run on a specific date each week, month, quarter, or whatever basis you’d like. 1CRM not only pulls the report, but it can also be set to send to specific recipients. This comes in handy when your president wants a Monday-morning update every week.

With CRM billing and invoicing integration, your accounting team can automate many of their activities, allowing them to focus on other tasks. You’ll get a CRM that works with your accounting software, which means less duplicate work. Get in touch with us today to learn how we can help you with your business accounting.